Thinking of opening your own veterinary business?
There’s never been a better time to be a veterinarian.
Pet ownership is at an all-time high and there’s an ever-growing need for quality veterinary care.
At the same time, starting a veterinary business is hard. Many new practices fail to launch.
The good news is that with the right approach you can build a practice that will thrive in your community for years to come.
In this guide you’ll learn…
- Why now is the perfect time to start a vet practice
- How to find your niche and location
- What equipment and technology you need to get
- How to build the right team around you
- Marketing basics to attract your first clients
Why Now Is the Perfect Time to Start
Look at the numbers.
According to dvm360, the number of veterinary practices in the US grew from 32,634 in 2021 to 34,000 in 2022.
That’s an 18.5% growth rate since 2009.
Demand continues to climb as pet owners spend more money on veterinary care than ever before. They expect quality. They expect modern facilities. And they are willing to pay for it.
Pet owners are also very vocal when they have a bad experience. Negative reviews can kill a practice before it even starts.
On the other hand…
Pet owners are actively searching for the kind of care you can provide. Vet clinics that focus on better service, modern equipment, and genuine care will find clients looking for them.
If you set things up right from the beginning, starting a veterinary business could be the smartest business decision you ever make.
Finding Your Niche and Location
Before you do anything else you have to answer two questions.
Get these wrong and the rest is an uphill battle. Get these right and you’ve set up a practice for success.
First question…
What kind of practice will you run?
There’s a wide range of veterinary services you could specialise in.
Will you focus on companion animals (dogs, cats, small pets), large animals (horses, livestock), or exotics? Emergency and critical care? Specialty services?
There’s different requirements, challenges, and markets for each of these niches. Pick the one that fits your skills and where the demand exists in your local area.
Second question…
Where will your practice be located?
The location of your veterinary business can make or break your chances of success. There are many factors to consider when choosing a location.
- The level of local competition.
- The population density.
- Income levels of people in the area.
- Ease of accessibility and parking.
- Zoning requirements and regulations.
You need to do your research. Drive around your desired area and talk to other business owners. Go where your clients will be.
It takes time but the right location is out there. Spend the time to find it.
You can’t open in a great spot in the wrong area and expect to succeed. But a smaller, less fancy space in the right neighbourhood could be the best foundation for your veterinary practice.
Essential Equipment and Technology
This is one area many new practice owners get wrong.
They overspend on equipment they don’t need right away. Or they cheap out on gear that breaks or gives them trouble later.
Find the middle ground. Invest in quality products from trusted suppliers like Technik veterinary equipment that will last your practice for years without constant repairs and replacement.
The basics of a veterinary practice include:
- Examination tables and other diagnostic tools.
- Surgical equipment and anaesthesia machines.
- Digital imaging equipment for X-ray, ultrasound, etc.
- Laboratory equipment for in-house testing and analysis.
- Practice management software for scheduling, records, etc.
Most people don’t realise this…
A survey from dvm360 shows that 23.5% of veterinary practices are still not using a practice management system. These vets are giving themselves a disadvantage before they even start.
Technology is not optional in 2024. Clients expect to book appointments online, they expect digital record keeping, and they expect modern care. This means using tech.
Start with the essentials and add specialty equipment as your practice grows and your revenue allows for it.
Building Your Dream Team
Your practice is only as good as the people in it.
You can have the prime location and state-of-the-art equipment. But without the right team behind you, your practice will never succeed.
When building a team focus on:
- Hire for attitude and train for skills. Skills can be learned and improved. An employee that genuinely cares for your patients and your clients is rare. Keep that in mind.
- Build a positive workplace culture. Burnout rates in the veterinary field are high. This means that you need to create a place where people actually enjoy showing up every day.
- Invest in training and education. Veterinary care is always improving. Keep your team on top of new developments and they’ll reward you by giving you better care.
- Pay fair compensation. Good employees are expensive. But bad employees cost even more. Know your cost of services, plan your finances well, and pay people what they are worth.
If you need to start small you can start small. Many successful practices start with just one veterinarian and a small support staff. Scale up as needed and as your revenue allows for it.
Marketing Your New Practice
You have your location and physical setup ready. You have your equipment set up and your staff is in place.
Time to make your first appointment.
Marketing your new veterinary practice doesn’t have to be difficult. There are a few fundamentals to understand and then you can let the marketing work.
Start with the basics:
- A professional website. Your website is your digital storefront. Keep it simple, fast-loading, and easy to navigate. Make sure it’s mobile-friendly. Include online booking if you can.
- Claim your Google Business profile. When someone searches for vets near them, you want to be at the top of the list. Claim your profile and complete it with photos, hours, location, and services.
- Engage on social media. Post pet care tips and reminders. Share photos of happy pets (make sure you have owner permission). Show the human side of your practice.
- Encourage reviews. Your satisfied clients are the best marketing you can get. Make sure they have an easy way to leave reviews on Google and social media.
- Get involved in the community. Sponsor local events. Partner with pet stores, groomers, and other service providers. Build a network that will send you referrals.
Word of mouth is the most powerful marketing for a veterinary business. Deliver exceptional care to your patients and your clients will do the marketing for you.
Marketing takes time. Consistency beats intensity. You can show up every day and the results will follow.
Pulling It All Together
It takes planning and serious dedication to build a successful veterinary business.
The work is hard. But there’s plenty of opportunity for both financial and personal reward.
To quickly recap the main tips for starting a veterinary business you need to know:
- Choose your niche based on your skills and local demand.
- Pick a great location and don’t rush the process.
- Invest in quality equipment that will last for years.
- Build a motivated team that believes in what you do.
- Market consistently and keep engaging with your community.
The veterinary industry will continue to grow. Pet owners are in need of quality places they can trust with their furry friends. By following these steps you can start a business that helps pets, supports families, and gives you a fulfilling career.
It’s time to go after this opportunity.
