How To Open A New Vet Practice
Congratulations on your decision to open a veterinary practice. And welcome to a satisfying career of caring for animals. You’ll have many decisions to make in the upcoming years. But some decisions need to be made quickly, such as choosing disability insurance for soon to be veterinarians. Building a solid foundation for your new business is easier if you follow a step-by-step plan.
7 Steps to a Successful Veterinary Practice
Step 1 – Dream Big
Visualizing is a powerful tool in achieving life goals. If you don’t give yourself permission to dream big, how do you know what you really want? Maintaining a long career in veterinary medicine requires passion. And if you’re not building something you’re excited about you may burn out in a few years.
Step 2 – Create a Business Plan
A basic veterinary business plan should include:
- The range of services you want to offer
- Size of your practice
- Estimate startup and ongoing costs
- Understand your target market
- Define your brand – business name
Finding a location for your practice and clarifying what you will charge for your services are other tasks to complete when developing a business plan. You may also want to consider ways to make your practice more profitable in the future such as becoming a provider for pet insurance companies or maintaining an inventory or pet products you feel good about promoting.
Step 3 – Disability Insurance for Soon to be Veterinarians and other Legalities
Not all of the steps to setting up a practice are exciting. Deciding what type of business structure you’ll operate under—a partnership, a limited liability company, or a sole proprietorship—is important because the decision affects your future legal responsibilities. Registering for taxes, opening a business bank account and buying disability insurance are a few of the other tasks along the way to making your dream into a reality.
Step 4 – Secure All Necessary Licensing
Failure to acquire all the right licenses and permits can shutter your business before you’ve even begun. Check with your city, state, and the county clerk’s office to make sure you understand all of your obligations. For more information, visit the US Small Business Associations directory of resources.
Step 5 – Promote Your Practice
How will you let people know your office is open for patients? Building a website and a social media platform are key elements of promotion in today’s business climate. Partnering with local pet groomers and pet supply stores can also help create buzz about your new practice.
Of course, creating return business is also crucial. Hiring friendly, efficient staff who make customers feel welcome
Are You Ready for Success?
The experts at Total Planning Veterinary Services encourage new veterinarians to build a solid business foundation in order to last the test of time. Any long-term plans for success should include making responsible decisions like securing disability insurance for veterinarians. You’ve already committed years of education, and put your heart and soul into starting your practice. It only makes sense to protect your practice, your employees, and your future with the right insurance plan.