Purchasing a practice can be quite a task. In this guide, you will learn the key phases of acquiring financing for a veterinary practice and suggested actions for each phase.
Stepping out on your own is scary, challenging and every bit of an exciting adventure. Who better to stand by and support you than a bank willing to take a chance on a small-town girl with big dreams?
In the professional world we have all heard of "networking." Some of us like it, some just tolerate it. I'm sure most people in the world of veterinary medicine didn't decide to open their own practice just for the networking opportunities. It's safe to say they opened their own practice because they wanted to make a difference, help animals, and support their families. Is it hard to believe, that networking, when done correctly, is helping others, just as much as you are helping yourself?
A lot of thought and effort goes into this choice, while keeping in mind there will be little to no financial reward for at least the first year. Before pursuing this goal, be certain that you're at a point in your life where you can give everything you have, plus more, to this new endeavor. It's never too early to start thinking about the idea of practice ownership, but make sure you have the experience and confidence to back it up.
Who doesn't have questions about borrowing money to purchase or start a veterinary practice?