Is Buying a Veterinary Franchise a Good Idea?

by easyDVM

When most veterinarians decide they want to manage their own veterinary practice, they either start a new practice or take over an existing one. However, there is another option, which is to purchase or join a veterinary clinic franchise. If you want to open a veterinary practice but need some help, buying a veterinary franchise could be good for you.

Advantages of Buying a Veterinary Franchise

Buying a veterinary franchise is often easier than starting a veterinary practice from scratch. Franchisors usually provide a lot of support for new veterinary clinic owners, which can help you get your business up and running as quickly as possible. You can draw on the experience of people who know what is involved in starting a new veterinary clinic.

Buying a veterinary franchise often involves lower start-up costs than beginning a traditional practice. If you do not have the necessary capital to start a veterinary practice, and you do not want to or are not able to go into debt to finance your own startup, then buying a veterinary franchise could be an affordable option for you. With the support provided by the franchisor, you can quickly begin to make a profit and build a sustainable income for yourself and your employees. Many franchisors provide estimates of how much you can expect to earn after you purchase a veterinary franchise and how you can expect your revenue to grow over time.

Disadvantages of Buying a Veterinary Franchise

Although buying a veterinary franchise is a good option for many veterinarians, you need to consider a few potential disadvantages. In most cases, buying a veterinary franchise does not give you quite as much control as starting your own practice. Before you decide to purchase a franchise, it is important to find out everything you can about the franchise model. Read all documentation that the franchisor provides so you can be clear about how much control you will have over the way you run your veterinary practice if you decide to buy into the franchise. Do not hesitate to ask the franchisor to explain any terms that are not clear.

Is Buying a Veterinary Franchise Right For You?

There is no single right answer to the question, “Should I buy a veterinary franchise?” Every veterinarian has different goals, aspirations and needs, all of which can influence your decision. If you want to focus on providing the best quality of care for your animal patients, while the franchisor helps you out with managing the business side of running your veterinary practice, then you may choose to join a franchise model. On the other hand, if you want to retain full control over your business, then you may prefer to go it alone.

How to Decide Whether to Buy a Veterinary Franchise

Whatever choice you ultimately make for your veterinary career, it is important to get advice from other people who have been through the same process. Network with other veterinarians to find out about their experiences of the franchise model and get recommendations for franchisors that provide the most support to their franchisees. Most importantly, be sure to set out your career goals and make a plan to achieve them, and then ask yourself whether buying a veterinary franchise can successfully fit into that plan.

It’s Opening Day for Your Start-up Veterinary Clinic. How Do You Get the Word Out?

by easyDVM

The first few months of your new practice’s existence are a critical period, and many practices that flounder in this period fold later on. You’re a veterinarian, not a marketer — but if you don’t learn at least some marketing techniques, your start-up practice may not survive.

What’s more, starting a new veterinary practice poses a unique problem: You have to carve out a new niche for yourself and create an identity for yourself out of nothing (or almost nothing). Thankfully, many veterinarians have done it before you, and there are several tried-and-true techniques out there to promote your new business.

Get Listed on Business Listings

The first step as soon as you get a location picked out is to get listed on all the business listing directories.  Google is still the pack leader so make sure you start there.  Other directories include Bing, Yelp, and Yahoo.  Most of them require a way to authenticate that you are truly the owner of the business.  So you may need a way to receive mail at the location or have a business phone number already set up.

Write a Press Release

Writing a press release is one of the most time-honored ways of getting your message out. By sending a press release to TV and radio stations, newspapers and other news outlets in your area, you can drum up plenty of interest. But your press release won’t do much good if these outlets don’t run it. With that in mind, you need to make it as enticing to reporters as possible.

Your press release shouldn’t be an advertisement: Write it from a neutral point of view, in the same style as a newspaper article. Press releases are for news, not just information, so be sure to reference something new like an opening date or an announcement. Remember that reporters are busy people, and they’re much more likely to run your press release if they don’t have to edit it. If you have any questions about how to write the best possible press release, you might hire a professional writer.

Notably, you should put your name and contact information at the end of the press release. Even if a news outlet doesn’t run your press release, they may reach out to you for an interview.

Social Media

Social media has largely supplanted traditional advertising media, like radio and TV spots or newspaper ads, as a way of getting your message out. Making a social media account and posting to it is a free way of getting publicity, so you should consider having a social media presence on major platforms like Facebook and Twitter.

Unfortunately, just making free posts won’t necessarily help you break into your target market. Most social media platforms won’t prioritize your posts on users’ feeds unless you spend money to run advertisements or promote posts.

The good news is that platforms like Facebook allow you to carefully craft advertisements to promote your practice. You can choose precisely the audience you want in terms of location, interests and demographic variables like pet ownership. What’s more, these kinds of ads generally aren’t too expensive.

Opening Specials and Other Deals

Opening specials, sales and other special deals will only work if potential customers already know about your practice. So be sure to use other techniques to build buzz, but bring customers in the door — and build word of mouth — by sweetening the proposition with an opening deal.

What, exactly, you’ll choose will depend on what you can afford and what you think your customers will be interested in. Maybe you’ll give them a discount on their next visit if they refer a friend. Maybe you’ll offer a hefty discount on services for their first visit or give them a discount if they book another appointment before they leave.

When you’re starting a new practice, you have many marketing techniques available to you to bring customers in the door. By using a combination of many approaches, you’ll reach a broad audience and increase your odds of a successful opening — and a thriving practice for many years to come.

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

New Veterinary Clinic – Lease Retail Space or Own a Free-standing Facility?

by easyDVM

When starting a veterinary practice, reviewing all available options is wise — from deciding on a location and employees to which veterinary software to use. One of the biggest decisions is whether to own or lease your veterinary practice location, and the answer depends on quite a few variables. Let’s take a look at the pros and cons of each so you can make a well-informed decision.

Pros of Leasing A Retail Space

Many new veterinary practice owners opt to lease their space for a number of practical reasons:

  • Less upfront cash needed: As a new veterinary practice, and perhaps a new vet as well, money might be a little tight. New veterinarians are typically paying off student loans, which put a crimp in their cash flow, so leasing might be the more comfortable option.
  • Inclusive pricing: Typically, maintenance is included in a lease agreement. This means somebody else will handle cutting the grass and maintaining the parking lot. This type of pricing can make your operations budget easier to control.
  • Fewer issues with maintenance: When something unexpected happens, you will simply call the landlord and let them know so it can be handled. Depending on your lease agreement, you may not have to worry about paying for plumbing or electrical repairs, or even if the roof blows off in a storm.
  • Better location availability: Often, existing commercial buildings have better locations with great accessibility, which is something that might be difficult to duplicate when building a facility on your own location. It’s even better when there are complementary businesses nearby such as pet supply stores, groomers or doggie washes.

Cons of Leasing A Retail Space

However, there are also some drawbacks to leasing as well:

  • Less available space: Sometimes, leasing means not having the amount of space that you would like to have for your vet practice. Leasing commercial property is a function of price and size, and sometimes you have to make do with what you can afford.
  • Less control over the property: When you lease a retail space, you will be bound by the lease agreement and the terms you negotiate with the owner. Of course, these terms might preclude you from doing some of the things that you’d like, so be certain to read the agreement carefully to avoid unintended issues.
  • No equity: Just like when you rent a home instead of buying, you are putting money in the landlord’s pocket rather than your own. You aren’t building equity for your future when renting.

Pros of Owning A Free-standing Facility

Owning your veterinary facility might be the best choice for you.

  • More control: When you buy or build your own practice facility, you have control over the space and can do whatever you want or need with it. From configuring your offices to building kennels and an outdoor dog run, the sky’s the limit.
  • More space: When you build a veterinary facility, you can decide how big a lot you need and how large you want the building to be. Likewise, if you buy an existing building, you can retrofit it to suit your needs.
  • More flexibility: When you own your veterinary facility, you can do pretty much whatever you want with it, as long as it’s legal. Want to stay open until midnight? Put up a really ugly but attention-getting sign (within local regulations of course)? Go ahead and do it. Planning to board dogs and cats and create an outdoor space for them to get exercise? Not a problem.
  • More economical overall: Many practice owners are thrilled to realize that owning is actually more economical for them than leasing a commercial building.

Cons of Owning A Free-standing Facility

On the flip side, there are some negatives to building or buying your own space as well, depending on your situation.

  • Upfront cash needed: Diverting the funds needed to purchase a commercial building or pay a down payment can take away your ability to invest in technology and equipment.
  • Maintenance required: Somebody has to keep up with the maintenance required, and when you own the place, that somebody is you.
  • Not easy to move: When you have a veterinary building completed or retrofitted to your specifications, it limits the potential buyers. Most likely it will only appeal to other veterinarians, so it can be challenging to sell the space when needed, may take longer than expected and can sometimes net less money.

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

Where Do I Get the Funds for My Start-Up Veterinary Practice?

by easyDVM

You have to spend money to make money. But where does that money come from?

If you’ve never started your own business, it can seem like businesses appear out of nowhere. Taking out a loan is perhaps the best-known way to get essential capital, but there are many other ways of getting together the money to open a new veterinary practice. Read on to learn some of the ways of getting your veterinary practice off the ground.

Your Savings

Maybe the most obvious way of getting the money for your new practice is by dipping into your personal funds. If you’re considering opening a practice, you’ve probably been working for someone else’s practice or a veterinary hospital for a while. Along the way, you’ve likely saved up some money.

These funds will most obviously include a savings account. They may also consist of less liquid assets like stocks, bonds or even a retirement account — but be aware that liquidating these assets may carry hefty fees or tax penalties.

In general, you don’t want to drain your entire savings to open a new business. You want to leave yourself a financial cushion to rely on in case the business fails or doesn’t pick up like you’re hoping. So unless you’re very flush, you should probably supplement your own funds with another source.

Grants

Grants are an often-overlooked way to get the capital you need to start a new business. These will be particularly useful if you’re servicing an underprivileged or underserved area or population, because government agencies and charities will often earmark grant money to go toward these communities.

The downside of applying for grants is that you have to apply for them, and assembling the grant application takes time and potentially money (if you hire a grant writer). There’s no guarantee that you’ll get the grant, either, so you shouldn’t plan your opening date around a grant you’ve just applied for! But with a well-written application and a good vision for your practice, you’ll greatly improve your chances of receiving a grant.

Bank and Private Loans

Banks and private companies both offer loans to businesses looking to get off the ground, and this is how many (if not most) practices get established. However, unlike many of these loan types, you’ll owe interest on your loan. The more you take out, and the more time it takes you to pay it back, the more you’ll owe.

What’s more, the interest rate will depend on your credit. If you’ve had trouble paying your bills, or if you have a bankruptcy in your record, you’ll end up paying far more back to the bank over time. For these reasons, it’s a good idea to explore other options first and only borrow what you need (and can pay back).

Friends, Family and Crowdfunding

If your friends or family are affluent, you might try asking them for money to get your practice started. In these scenarios, it’s good to treat these loans like a bank or private loan. Don’t just take the money — pay it back over time. Set out the terms in advance, including the payments you’ll make, and any interest that will accrue.

Another newer option is crowdfunding. Using GoFundMe, Indiegogo or Kickstarter can help you raise capital for a business by distributing the costs across a community of interested people who want to see you succeed. Of course, you’ll need to advertise the crowdfunding campaign to make it successful, and you might need to find a way — even something small — to show your donors your appreciation.

Starting a private veterinary practice takes a lot of capital. But with these methods in hand, you’ll be well on your way to raising the funds you need, so you can serve your community and fulfill your dreams.

Should I Open My Own Veterinary Practice?

by easyDVM

Open for businessOpening your own veterinary practice gives you a lot of control over your career, but some vets are happy to remain associates in existing practices. The right choice for you depends on what you want out of your career. Let’s take a look at the benefits and drawbacks of each option to see which is right for you.

Why Open Your Own Veterinary Practice?

Veterinary practice owners often have more control over their working lives than vets who work as employees in practices owned by other people. When you own the practice, you can determine the opening hours of your practice, as well as choosing the layout and decor of your working environment. Feeling that you have chosen to come into work every morning can make a huge difference to your state of mind, as you will feel in control of your life. You may also feel more invested in the practice and feel as though you are working toward an important goal.

Why Remain as an Associate?

Associate vets often have a better work-life balance than practice owners. Although they may in theory have less control over their working hours, they often work fewer hours in total. Whereas practice owners must do everything it takes to keep their practice running, including solving any crises that occur, employees are only obliged to work their contracted hours. When you go home at the end of the day as an associate, you can stop thinking about work, whereas a practice owner is responsible for planning the long-term future of their business.

Which Is Better for You as a Veterinarian?

Choosing to remain an associate doesn’t mean you aren’t committed to your career. Some veterinarians choose to forgo practice ownership so they can spend more time reading the latest medical journals and developing their medical skills. On the other hand, practice owners get a wider view of pet care, as they interact with pet owners, insurance companies, and the regulations that govern the industry, as well as the animals themselves. Which option is best for your career? It depends whether you want to focus purely on medicine or explore other areas of running a veterinary business. This is a very personal choice, so take some time to think through which aspects of your job you most enjoy before making the jump into practice ownership.

Which Option Is More Financially Rewarding?

Practice owners have a greater potential to increase their earnings than associates, but they also risk losing money. As an associate, you may enjoy the stability of taking home a fixed salary every month, or you may aspire to build a business that provides you with long-term financial security. If you have access to enough capital to start your own practice, you could create a highly profitable business that gives an excellent return on your initial investment.

Should You Open Your Own Veterinary Practice?

Opening a veterinary practice is a great option for many people, but before you jump into this option, it pays to do your homework. Take the time to learn the business skills you’ll need to manage your practice, such as marketing, accounting and managing practice budgets. Think carefully about what you want from your veterinary career. Are you an ambitious entrepreneur who craves control or an associate who simply wants to care for animals while maintaining a healthy work-life balance?

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

Starting a Veterinary Practice? Consider These Top 5 Legal Steps

by easyDVM

When veterinarians start a new practice, they need to remember that there are many legal steps to take beforehand. Not following these can result in hefty fines or costly lawsuits. By taking precautions, you’ll protect yourself, your business and your patients.

Addressing these legal steps in-depth goes beyond the scope of this article, especially because the procedures for following these steps vary between jurisdictions. If you have any questions, consult a lawyer.

1. Legally Forming a Company

Your company needs to have a legal presence to do much of the work of business. This includes assuming and paying debts (for instance, to get your business off the ground), signing contracts (such as your location’s lease), assuming obligations, suing and being sued and otherwise being held responsible for its actions. Registering your business on a federal level will also give you an EIN number, which is what you’ll use to pay taxes.

There are several different types of legal entities your business can become, including but not limited to, a corporation, an association, a proprietorship or a partnership. Each will have its own benefits and drawbacks, so consider your options carefully. Be sure to research the requirements for forming your company on the national, state and local levels.

2. Local Zoning Requirements

Zoning is designed to keep a neighborhood orderly, both geographically and in terms of its goings-on. For instance, it irritates neighbors and damages property values to have big businesses in what’s otherwise a peaceful suburban setting, so municipalities will pass zoning restrictions to avoid this problem. This particularly affects businesses that operate out of the home.

Before you sign a lease or buy property, always double-check with your city to make sure you’re not violating zoning laws. If you are, you’ll need to pick a different location.

3. Permits and Licenses

All 50 U.S. states require veterinarians to have professional and current state licensure. These requirements differ from state to state. Additionally, many states require licensure, certification or registration for vet techs. Some states may require licensure or certification for an individual hospital, clinic or other facility. Finally, both the DEA and states have requirements in place for possession of controlled substances, such as Ketamine. It’s important to research all of these requirements for your jurisdiction, and how they affect your office.

4. Insurance Requirements

Part of your professional or business licensure requirements may involve buying insurance and keeping it current–especially malpractice insurance. Do research about what your particular state requires, and if you have questions consult a lawyer.

Consider buying other kinds of insurance your state may not request, such as property insurance, or a more extensive plan than your jurisdiction wants. It’s better to be safe than sorry.

5. Setting Up Employment

Finally, make sure your procedures for employing other people are set up properly. For instance, most states will levy an employment tax. They may request that you put together an employee handbook (which is a good idea in general!), and you’ll also have to make sure your workplace meets OSHA and other safety standards.

Regulations, zoning requirements, taxes and other legal steps are put into place to keep your business, its clients and its patients safe, and to benefit the public. The legal considerations surrounding starting a business may be intimidating, but with care, research and consultation, you’ll be able to meet all requirements.

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

Design Your Veterinary Practice Facility to Maximize Your Pet Patients’ Comfort

by Sam D Meisler DVM

Hospital

When designing a veterinary practice, it is important to keep the comfort of patients in mind. Design choices that appeal to humans aren’t always the best for our four-legged friends, who can be very sensitive to sounds, temperature fluctuations, textures and colors. Use these design tips to make your pet patients feel more at home and reduce their anxiety over visiting the vet.

Colors

Some animals feel nervous in enclosed spaces. According to veterinary architect Wendy Wheeler Martinez, using light colors inside your practice can make spaces look bigger, which could help soothe pets’ anxiety. Light colors are a particularly good choice for ceilings, as they can visually push the ceiling away to make the room feel less claustrophobic.

Flooring

Ideally, the floor of a veterinary practice will be easy to clean and maintain. Even house-trained pets can have accidents when they feel nervous about being in a new environment, so it’s important to choose a flooring type that wipes clean and doesn’t hold onto smells. Vinyl and rubber are both good choices, whereas installing carpet is likely to be a decision you regret. Other types of hard flooring, such as concrete or tiles, are also easy to clean, although pets might not find them as comfortable to walk on.

Sound

Background noise can be a big problem in some veterinary practices. Soften the noises of barking dogs and mewling cats by installing absorbent panels in noisy parts of your practice, such as the kennel area. Soundproofing your practice in this way can help to keep stress levels as low as possible among your patients.

Some veterinary practices choose to play music to cover background sounds and create a welcoming atmosphere for both humans and pets. Studies have shown that dogs in rescue shelters get more rest when they listen to classical music, reflecting human studies that show classical music reduces stress by relieving pain, lowering blood pressure, and slowing heart and breathing rates. Try using gentle classical music in your practice to put pet patients at their ease, but steer clear of noisy pop or rock music that could set four-legged visitors on edge.

Temperature

Animals are very sensitive to heat. Unlike humans, who have a huge number of sweat glands covering their bodies, cats can only sweat through their paws, and dogs cool down by panting and sweating through their paws, which leaves them vulnerable to overheating. If the temperature in your veterinary practice is too high, you may notice your pet patients leaving wet footprints on the floor. During summer, use air conditioning and fans to create a cooling breeze and prevent overheating in your pet patients.

Overall Design

In general, it is a good idea to design your veterinary practice to be as homely as possible. Be sure to provide areas for dogs to sit or lie down in the waiting room, with drinking water available. By making design choices that turn a sterile building into a welcoming environment for your pet patients, you may be able to reduce their stress levels and help them cope more easily with the unfamiliar experience of visiting the vet. Of course, you also need to consider the practicality of your design choices; soft furnishings and carpets may not be the best choice, as you need the space to be easy to clean.

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

3 Things to Consider When Starting a Veterinary Practice

by Sam D Meisler DVM

VeterinarianIf you’re planning on starting a veterinary practice — a million and one thoughts are likely racing through your head. Trust me, I know the feeling — but as long as you remain focused on the task at hand, everything will begin to fall into place.

Although highly specialized in terms of your objectives, opening your own practice needs to be viewed like any other business. In order to succeed, you’ll need to plan ahead and adjust your goals based on your evolving objectives.

If one thing is certain, you have an exciting journey ahead. As long as you break this one large (yet exciting) goal into smaller, more attainable steps, you’ll be well on your way.

First, you’ll need to consider the following…

There is no doubt that it takes a certain type of individual to start a veterinary practice. Although you may be a veterinary first and foremost, you also display key entrepreneur qualities — including a high level of passion and willingness to take educated risks.

Of course, your overall mission is to build a profitable business — but at the heart of it all, you will also want to build a practice that provides excellent service and quality medicine. In order to achieve these challenging, yet attainable goals, you’ll need to take a few key steps.

1. Write a business plan

Whether you’re opening a veterinary practice or a restaurant, every business owner needs to plan ahead. With only a loose strategy in place, how will you ever implement your current objectives? Begin to ask yourself some of the following questions:

  • What is my core mission and how will I achieve success?
  • What will I offer my clients — and more importantly, who will my clients be?
  • What will be my edge over the competition?
  • How will I market my new practice and what will my sales strategy be?

If you are looking for ideas and some key examples, the Australian Veterinary Practice Management Association offers a thorough guide that you can check out here.

2. Establish your location and team

When choosing a location, you need to think about the current demand. This will be one of the most important considerations in terms of sustainable success. Also, make sure you do some market research. Find out more about the local demographics, so you can find a location that will meet the needs of your target market.

When it comes to your team, think about not only your immediate staff, but also the professionals who will provide key services. In most cases, a new veterinary practice will require assistance from experts such as a local attorney, an insurance representative, a financial advisor and even a strategic mentor who has already taken this exciting journey.

3. Seek funding opportunities

Right now, you need to make a list that includes all of your start-up requirements. Some examples include:

  • Legal services
  • Rent
  • Equipment
  • Systems for bookkeeping, scheduling, etc.
  • Promotion
  • Initial operating costs

You need to be practical in terms of your expenses and projected cash flow. To begin, prepare a 12-month projection. Estimate your potential revenue, expenses, debt financing and your minimum salary.

Next, explore all of your options — including possible grants. Look into grants that cover aspects of animal research, focusing on both private and public opportunities. When lending money, always be mindful of three key areas: the principal, the term and the interest rate.

At the end of the day, you need to make decisions based on what’s best for you and your practice. Your goal is to meet the needs of your clients, so be sure to automate as many systems as possible. This will free up precious time and energy, so that you can focus on what really matters — taking care of those who do not have a voice.

 

Sources

http://avpma.ava.com.au/
http://veterinarybusiness.dvm360.com/

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.

Picking a Location for Your New Startup Veterinary Practice

by Sam D Meisler DVM

Starting veterinary practice - Location
Starting veterinary practice – Location

When looking for a location to start a veterinary practice, there are several considerations you need to take into account. By considering the demographics of the local population, you can ensure you open your practice in a location where there is plenty of demand for your service. Here are a few of the most important factors to consider.

Population Within 5 Miles

People don’t like to travel a long way to take a sick pet to the vet. They are much more likely to choose a vet in their local area than one far away. Looking at the size of the population within 5 miles gives you an idea of the maximum possible size of your client base. If you choose a location that is miles out of town, you’ll have to work incredibly hard to convince people your service is worth the drive.

Local Demographics

The population size of the town you plan to set up in is not the only factor that affects the maximum number of clients your practice can attract. You need to know some basic facts about the people living in the local area. Most importantly, how many of them are pet owners? Pet ownership varies widely by area. For example, more than 70 percent of households in Vermont own a pet, compared to just over half of households in Massachusetts, New York, and New Jersey. You can use these statewide statistics to estimate the number of pet owners in the area around your planned location, or conduct your own market research to get a more localized picture of pet ownership.

Household Income

To make your veterinary practice a viable business, you need to attract customers who can afford to pay for the services you offer. Use local household income data to find out which neighborhoods are home to pet owners who can afford to pay for their pets to have the best veterinary care.

Competition

When you think you have found the perfect location for your new veterinary practice, don’t forget to find out whether there are already vets operating in the area. Competition isn’t necessarily a reason to reject an attractive area, but you will need to think about how you can differentiate yourself from the businesses already established there. What will you offer to entice pet owners away from their current vets? Longer opening hours? Lower prices? Specialist services? These are all questions you need to ask before deciding to go head-to-head with an established competitor.

Suitable Spaces

Once you have pinned down the area where you want to open your veterinary practice, you need to find a suitable space in which to open your business. One option is to rent a retail space, which gives you the opportunity to try out the local market without the commitment of buying or building a free standing structure to house your practice. However, if you decide you want to stay in the area, building or buying your own property can provide long term financial benefits.

Conclusion

Opening a veterinary practice requires a huge amount of investment, so it makes sense not to skimp on research when picking a location. When you understand the local population and the competition you will face if you choose to set up your practice in a particular area, you can tailor your services to increase your business’s chance of success.

EasyDVM Practice Software is a cloud-based veterinary practice management software system. We pride ourselves in offering a system that is user-friendly, easy to learn for new team members, full-featured and elegant in its simplicity. Best of all, all devices, multiple users, all your clients and patients, always affordable.