With more than 20 locations in North Texas, City Vet is expected to open another in Richardson this spring, according to a state filing.
Based in Dallas, City Vet operates more than 30 clinics in Dallas, San Antonio, Austin, Houston, and Denver that now include both branded and non-branded locations, with plans to open 13 more clinics in Oklahoma, Florida, Virginia, Washington, and Georgia, as well as in Buda, Coppell, Keller, McKinney, Austin, and San Antonio.
The Texas Department of Licensing and Regulation filing shows the Richardson clinic will open at 2050 E. President George George Bush Hwy. in Suite 120. The estimated cost of renovations for the 3,361-square-foot space is $506,000.
City Vet was founded in 1999 in the Oak Lawn area by veterinarian Chip Cannon, according to the company’s website.
In a November 2022 report, Morgan Stanley predicted an 8% annual growth rate for the pet-care industry by 2030 — a forecast consistent with estimates from 2021. The New York financial services company and investment bank also projects household spending on pet care to increase to $1,320 per animal by 2025. That figure is expected to increase by more than $500 by 2030.
“An outcome in line with this expectation would increase total spending in the industry by 134% over the next decade, from $118 billion in 2019 to $277 billion by 2030,” Morgan Stanley’s Simeon Gutman said in a press release. “Americans are increasingly attached to their pets, which is clearly shown in survey results, and thus pet spending is a priority. Consumers are less willing to cut pet spending even when real personal disposable income declines.”
Bates & Martin Architects of Denton is listed as the design firm on the filing.