A lot of pet owners are interested in the possibility of using their pet as a money making opportunity. Not all money making ventures are profitable and many are considered "unethical" by others in the pet industry. I encourage you to think about what is more important to you, your pet, or making money, because some opportunities are risky to your pet themselves.
Most money making ventures, whether in the pet industry or not, all require investment. If you are not willing to make this investment then do not go any further, if you are fully committed and willing to put cash into this, then lets get started.
First you need to start with the right pet, this may not be the pet you happen to have. As we learn about opportunities you will soon discover if your pet is the right one or not. Secondly your pet will need to be up to date on his or her vaccinations. Finally you will need to have time to devote to developing this avenue of making money.
Showing
Unless your pet is extremely high quality the chances of making money from showing are low. Very likely you will spend more money taking them to shows and competing. One thing to consider here, is that if you show your pet and it gains attention for how well it does at shows you will have inflated your animals value, and the value of its offspring. You should not consider breeding an animal who has not competed to prove itself at shows.
Horses are most likely to win large amounts of prize money in shows, however they are also one of the most expensive pets to own and compete with.
Breeding
There are basically two kinds of breeders, good ones, and bad ones. You hopefully want to be a good one. If so you will need to start with quality animals, purebreds from show quality parents. You will need to invest time and money into your pets by registering them and taking them to shows to prove they are excellent examples of the breed and are worthy of being bred. Sadly most "breeders" do not, thus we have a glut of inferior quality pets. If you find yourself selling your pets to pet stores, then I can guarantee that you are a "bad breeder".
As a good breeder you will have people wanting pets from you, really good breeders have waiting lists for their pups or kittens, but do not breed their dog or cat, so much that they put her life at risk. Money is second to their desire to improve the breed and produce good dogs.
A good breeder also knows that there is always a risk to their breeding animals. Make sure you have have enough money for an emergency cesarean section.
Acting
This is a far better venture than breeding, because of the ethics involved in breeding. Any breed of cat or dog can get into acting, unlike breeding, in which the animal should definitely be a purebred. Even ferrets and other animals can get into acting. Usually light colored pets are preferred over darker colored ones, as they show up better. Additionally the pet must be well trained, approachable, and fully obedient. It will help immensely if your pet does any special tricks. The best place to start, if this is a goal, is to get your dog into obedience lessons, or if you have another type of animal, start getting it use to people and strange situations.
You will need make a portfolio done for your pet and may apply at agencies or look for "casting calls". The best place to start is approaching local television stations and inquiring about their need for animals in commercials.
If your pet is photogenic, and you are a good photographer, then it is possible you can make some money selling photos of them, either on-line or for use in posters, postcards, calendars, etc.
Other
There are loads of other opportunities to make money off of your pet, but lets face it, that is not why we own pets. They are companions, exploiting our furry friends solely for profit is wrong. Please do not put your money making interests ahead of the welfare of your pet.