Have you completed your training as a veterinarian and have you been working for a boss for years? For many people, after a few years, the urge to start their own practice arises. With the steps below you will have your own vetsend in a while!
A good preparation
The first step is to find a practice that you can take over or a space where you can start and build your own practice. Here it is important that you know what suits you. Will you go for a large practice with many management tasks or will you choose a smaller and therefore more personal practice? How many animals do you want to treat? How will you find the right location and how will you arrange all of this financially?
Practice takeover negotiations
If you have your eye on a practice, the negotiation begins. You and the seller have to agree on the purchase price. There are many factors that affect the value of a practice, such as real estate, the equipment and inventory, and cash flow. Once a price is determined, an acquisition contract must be drawn up. This contains all the agreements you make about what you will and will not take over. Think about the clientele, staff, the practice inventory, stocks, insurance and the contract with the health insurance company.
To obtain financing from the bank, you need a good business plan. This contains your ideas and plans. You show that you have done market research and thought about your positioning. Why should owners take their pets to your practice? And how do you acquire new clients? A solid financial foundation is very important. The bank must be able to see that you will make enough turnover to cover all costs, pay back the bank and make a living.
Get to work!
On paper there is a strong plan, the walls have been neatly whitewashed and you are ready to start. But now you are much more than a healthcare professional. You are an entrepreneur and a manager. Not only is this a big change for you, it’s a big change for the employees as well. It’s up to you to make sure they stay committed. They have to get used to you, your way of working and, for example, a new ICT system. And are the contracts in order? How do you deal with absenteeism? These are all questions you have to deal with in addition to your medical work. Quite a challenge, but a fun one!