Veterinarian holding a golden retriever in his practice.

Tips for Starting Your Own Veterinary Practice

As a veterinarian, the prospect of starting your own practice is exciting. Being your own boss, setting your own hours, and watching your business grow and flourish are just a few of the reasons that you should consider starting your own veterinary practice. However, like most big endeavors, there are several things you should consider before making the transition from employee to business owner. Below are some tips to help you get started. 

What to Do When Starting Your Own Veterinary Practice

Do Your Research

Before starting your own veterinary practice, it’s imperative that you do your research. This includes researching issues like the potential financial and legal obligations of owning a veterinary practice. Current practice owners are great sources of information. It’s also a good idea to consult with a veterinary start-up attorney before getting started. 

Establish Your Goals

Another thing to do before opening your own veterinary practice is establish your goals. These should include long-term and short-term goals for your practice and career. This can go a long way in guiding the direction of your future business.

Develop a Business Plan

After doing your research and establishing your goals, you should develop a business plan. A business plan typically includes:

  • A timeline for opening your practice,
  • Key tasks to accomplish with set due dates,
  • Financial forecasts and projections based on accurate market research,
  • A debt service plan,
  • A financial plan,
  • Monthly goals, and 
  • A marketing plan.

Choose the Right Location

Finally, the key to a successful business is a great location. For a veterinary practice, a great location can mean the difference between success and failure. Key questions to ask yourself when assessing different potential locations for your business include: 

  • Does the demographic of the area include members of my target market?
  • Does the location get much foot and vehicle traffic?
  • Is the location clearly visible from the road? 
  • Are there other veterinary offices in the building or area that will create competition?
  • Is the space itself suitable for the needs of a veterinary practice?
  • Is the space accessible to clients?
  • If the space isn’t suitable for the needs of a veterinary practice, are renovations possible? 

Hire a Veterinary Start-Up Attorney 

If you’re ready to start your own veterinary practice, Mahan Law is here to help. At Mahan law, we provide comprehensive legal services to veterinary start-up practices on a nationwide basis through our respected network of co-counsel attorneys. As the owner of an animal hospital, lead attorney Anthony Mahan has the knowledge and experience necessary to guide you through the process of starting your own veterinary practice. In addition, Mr. Mahan serves as in-house counsel to over 40 veterinary practices, making him uniquely suited to handle your legal needs as a veterinarian. Please contact our office today to arrange a consultation.