My Kingdom for a Pet

Sure, over the years they've been bestowed with the title of man's best friend or even, in some cases, taken on the role of the family baby.

But how far are people willing to go to ensure the happiness of their pets? From gourmet food and designer clothes to high-end services, such as pet sitting and doggie cabs, American consumers are turning what was once the simple life of a dog into a lifestyle of four-paw luxury.

In 2006, Americans will spend an estimated $38.4 billion on their furry friends, a 35% increase compared to the $28.5 billion spent five years ago, according to the American Pet Products Manufacturers Association.

Out of this, an estimated $15.2 billion will be spent on pet food alone, which is telling of the fact that pet owners are going beyond the traditional doggie biscuits and into more extravagant treats for their four-legged friends.

There is no doubt that the pet market is a booming arena, and it's not just pet retail giants such as Petco (PETC Quote) and PetsMart(PETM Quote) that are taking advantage of the market situation.

The latest trend in the industry? Entrepreneurs who are popping up all over the country to get in on the pet-crazed action.

One Pooch or Two?

Becky Marshall was in the process of getting her graduate degree at Columbia College in Chicago when she stumbled upon an idea to start a gourmet frozen-treat business for dogs.

"I was out with my family for ice cream, and I started wondering why ... [there wasn't] a treat dogs could eat, since dairy products make them sick," she says.

Voila: Polar Pups, a company selling doggie ice cream, was born.

"My biggest hope going into this business was to make dogs happy," Marshall says. "People love their pets tremendously and treat them as their own children, much as I do."

Now two years into her Chicago-based business, the 36-year-old Marshall packages, markets and sells Polar Pups ice cream in four doggie flavors: Beggin' Banana, Barkin' Apple, Berry Bite and Puppy Nutter. The ice cream, filled with protein and vitamins, is sold individually in four-ounce cups at around $2 each.

	Another Satisfied Customer

One secret of her success? Hailey (a German Shepherd) and Sam (a black Lab) are Marshall's two dogs and her most reliable taste testers, she explains.

Marshall has already expanded her business to supermarkets and grocery stores in California, Oklahoma, South Carolina and Wisconsin, and as Polar Pups grows, she is looking to market her product in warmer areas and move into other pet food products as well.

Sitting Pretty

Another entrepreneur who ventured into the four-legged world is Robin Hollis, who started her Guardian Petsitting Service nearly six years ago.

"For the first six months or so, we had three or four clients," Hollis recalls. Now she manages a roster of more than 300 customers and has consequently needed to hire four independent contracted reps -- and is still looking to add to her staff.

Based in San Jose, Calif., Guardian operates in Santa Clara County, but Hollis, who worked at an animal hospital for 11 years before she founded her company, says she will expand her business soon.

"Our busiest time of year is the summer and holidays," she says. "Mid-January through early March are usually the slowest months, but a lot of times those months are busy too."

To view Hema Oza's video take of today's Good Life segment, click here.