A Checklist for Starting up Your Veterinary Practice
You may be a competent and capable veterinarian with years of experience, but that competence is only one piece of the start-up clinic puzzle. It’s important to consider all the day-to-day responsibilities that come with opening and operating a business as well.
Starting up a veterinary practice is no easy feat, but you can reap the benefits of the pursuit. All that’s required is a little ambition, a strong, entrepreneurial spirit, and the full support of a knowledgeable team beside you. Here’s a checklist for starting up your veterinary practice to keep in mind as you move ahead in the process.
Foundation and Financing: Be Aware of Business Basics
Running a veterinary business requires you to juggle an assortment of responsibilities. You’re no longer wearing a single hat that speaks solely of your occupation. While proficiency in veterinary medicine is critical for success, you’re now wearing two hats as a business owner.
A foundation in business basics is just as critical for a prosperous operation. Do proper research on small-business education and the financial considerations that tend to play a major role in your imminent decisions. This foundation helps formulate a beginning plan to differentiate your practice while considering all the costs involved.
The Big Picture: Begin To Formulate a Clear Plan
Next up on a checklist for starting up your veterinary practice is a business plan that outlines the big picture. Finding a prime location is key to success. Consider your location most of all—a poor location choice hinders regular business prospects, especially in an oversaturated area.
Besides location, consider your practice format, standards of care, what services you offer, and the types of species you treat. This bigger picture provides a clearer pathway to operational success and helps you and your team create a business plan with discernible financial projections.
Squad Assembly: Build Your Team Wisely
No matter the field or industry, every start-up entrepreneur needs a wise team by their side. Your team should consist of professionals that understand the veterinary industry. Depending on your needs, an external team may consist of a consultant, attorney, banker, and accountant to get you off the ground. After your financial plan is in order, you need to hire staff to support your needs.
An internal team consists of team members you hire to work alongside you in the clinic. Be sure to read through an OSHA compliance checklist to be aware of full compliance standards. Many oversights that permanently damage a business are preventable. Workplace accidents derive from a variety of risks that are identifiable with the right training and education. Start the training process right away upon hiring. By setting the stage for success at the starting line, you can overcome bumps down the road.
