A veterinary start-up practice can be an exciting venture, but also one that requires strategic planning and proper legal representation. There are numerous considerations for a first-time veterinarian: What is the best location for my veterinary practice? How do I negotiate a commercial lease? Where can I secure funding for my start-up veterinary practice? Where will I find new clients/patients? The best way to address these concerns is by consulting an experienced veterinary attorney.
Mahan Law provides comprehensive legal services to veterinary start-up practices on a nationwide basis through a respected network of co-counsel attorneys. As the owner of a veterinary hospital, lead attorney Anthony Mahan’s first-hand knowledge and experience can help guide you through all phases of starting and running a veterinary practice. He also serves as in-house counsel to over 40 veterinary practices, which gives him unique insight into the business and legal challenges veterinarians face. When you become our client, you will have confidence knowing that we are committed to helping you achieve your objectives.
Veterinary Practice Start-up Services at Mahan Law
Knowing that starting a veterinary practice is daunting, we provide clients with a wide range of services, such as:
- Feasibility studies
- Business plans
- Entity formation
- Operating and partnership agreements
- Practice lease review
- Construction services
The first step in starting a veterinary practice is choosing the right location, typically in a professional medical complex. Our legal team can help you hit the ground running by assessing the prospects of launching a practice in a particular area based on factors such as traffic patterns, competitors in the vicinity, and other types of businesses located nearby. Other considerations include whether you will be leasing space or purchasing real estate to house your practice, as well as obtaining the necessary funding for space and equipment. At Mahan Law, our feasibility studies are designed to guide clients to prime locations that will promote their veterinary practice.
Whether you are starting a veterinary practice or buying into an existing one, it is crucial to develop a well-conceived business plan. Prospective lenders and investors will rely on your business plan to assess your financial position and your prospects for success. The attorneys at Mahan Law are well-versed in the business aspects of running a veterinary practice and routinely assist clients with preparing business plans. In short, a business plan is an organizational roadmap that explains the services the veterinary practice provides and how it intends to achieve its objectives. By differentiating your practice from competitors and providing investors and your leadership team with realistic financial projections, we can design a business plan that positions your veterinary practice for success.
Our veterinary attorneys routinely advise clients on entity formation and choosing the appropriate form of business organization for their practice. Options include:
- Professional Limited Liability Company (PLLC)
- Subchapter S-corporation
- Subchapter C-corporation
At Mahan Law, we have extensive experience preparing foundational documents (e.g. Articles of Incorporation, bylaws, partnership agreements) as well as assisting with obtaining the necessary business licenses. Knowing that time is of the essence, our legal team will shepherd paperwork through local and state governmental agencies to get your veterinary practice up and running expediently.
Our veterinary attorneys leverage their negotiating skills to help our clients prepare necessary operating and partnership agreements. Operating agreements are typically utilized by LLCs and similar entities for purposes of establishing equity structure, management, voting rights, liability, and indemnification, as well as guidelines for transfers, buyouts, dissolution and a method for dispute resolution (e.g. arbitration, mediation).
If your veterinary practice is a partnership, it is critically important for each party’s rights and responsibilities to be clearly defined in a partnership agreement. A well-designed agreement will include, at a minimum, provisions regarding buyouts, financing arrangements and a business succession plan.
Practice Lease Review
If you are leasing space for your veterinary practice, our legal team can review and negotiate the terms of the lease so that your interests are protected. We will also rely on our feasibility study to assess the market conditions: Are there a lot of vacancies in the area? Is similar space being rented at a premium? How much rent are other businesses paying for similar properties in your location?
Doing so will allow us to negotiate more favorable lease terms, particularly with respect to determining rent, which is typically calculated based on rentable square feet rather than usable square feet. The latter refers to the actual size of the space you intend to lease. By contrast, rentable square feet combines usable square feet with a percentage of the square footage of common areas (e.g. lobbies, hallways, stairways, elevators). Additionally, commercial real estate leases are often “triple net leases” in which tenants also pay taxes, insurance, and maintenance fees.
For veterinarians who are interested in buying or developing a property, we review project agreements and help clients secure construction financing. Our legal team collaborates with a network of respected architects, engineers and builders to ensure that projects are completed expediently. We also represent our veterinary clients in construction litigation (e.g. breach of contract, defective construction, professional negligence). Above all, we work to guide our veterinary clients through all facets of construction transactions.
Contact Our Experienced Veterinary Start-Up Attorneys
At Mahan law, we understand the unique legal and business needs of veterinarians because we are fellow veterinary professionals as well as attorneys. Our legal team has the business acumen and legal knowledge that is essential for starting a veterinary practice and will always put your best interests first. Please contact our office today to set up a consultation.
Mahan Law helps their clients with buying a veterinary practice throughout the United States including the states of Florida, Ohio, Kentucky, and Indiana.