Pursuing a career in veterinary medicine is something many people dream of from a young age. You may be one of those people who has entered the profession due to your love of animals and the desire to help them in times of suffering or distress. As well as coming to the aid of a variety of different creatures, you will also enjoy the benefits of a well-paid job that gives you the opportunity to serve your community and enjoy an interesting and diverse workload.
When it comes to building your own practice there are a few key steps to take into account before opening your doors to the public. While this can be a highly rewarding and fulfilling venture for any vet, careful planning and preparation are required in order to make it a successful business. Follow the tips in this article to ensure your veterinary practice gets off to the best start.
Create a Business Plan
Your business plan is the blueprint for your business and sets out how you intend to meet your business objectives and goals and will also serve as a valuable document when it comes to securing funding for your practice.
When writing your business plan, include key milestones and deliverables that need to be met in order to keep you on track with your vision and ensure all relevant matters have been addressed. Your business plan should ideally include an executive summary and information such as financial forecasts and plans, staffing requirements, and a marketing plan.
Select a Property
Finding the right property for your practice is essential. Once you have developed your business plan, start looking for options. Ask yourself whether you want to build a brand new practice or take over an existing one. Do you plan to rent or buy a property? Will you need to renovate or pour funds into the project and if so, how will you finance this?
Location is another important consideration. Are there many other practices in the area you will be competing with and how far will it be from your home? If you intend to make emergency visits, having a practice close to your home is best. When it comes to reviewing your lease or purchase agreement, it is advisable to familiarize yourself with the legalities or hire the services of a lawyer. You can learn about real estate law here.
To support your practice you will also have to determine your resourcing needs. Deciding how many people to hire can be challenging so it can help to speak to an established veterinary practice owner to understand what resources you need in place before opening. Being short-staffed may result in you spending too much time on non-veterinary matters, while over-hiring will eat into your profits.
To start, it is likely you will need a receptionist, an assistant, and a veterinary technician to support you and your practice, and as you grow your practice you can hire more staff as required.
By following the guidance above you will ensure you have taken the right steps to create a thriving and successful veterinary business.