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Veterinary Clinic Business Plan
Start your own veterinary clinic business plan
Southwest Veterinary Clinic
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
The Southwest Veterinary Clinic will be located in southwest Richmond. The clinic will offer a full range of medical services to the area’s pet owners. Southwest Richmond is a mixture of industrial and residential property. There are approximately 20,000 moderate-income residents in the area. Many of these residents are elderly with multiple pets.
Currently, the three closest veterinary clinics are a fifteen minute drive for most southwest Richmond residents. Southwest Veterinary Clinic will be a five minute drive from most locations in southwest Richmond.
Edward Anderson, DVM, and Michelle Johnson, DVD, have seven years of veterinary experience. Edward has four years of experience with the Richmond Emergency Veterinary Hospital. Michelle has been a staff veterinarian at Blue Cross Hospital for three years.
Both Richmond Emergency and Blue Cross Hospitals serve residents in southwest Richmond. Edward and Michelle have treated numerous pets from the southwest section of town over the years. Most of these customers praised the service they received. Thirty customers have already confirmed that they will be using the new hospital services.
Our goal is to help customers’ pets live long, happy and healthy lives. We believe that a key element to a healthy pet is a great relationship with your veterinarian. Everyone at Southwest Veterinary Clinic is committed to professional, caring, personalized service. Southwest Veterinary Clinic takes pride in our dedication to the highest standards in veterinary medicine. We have a full service clinic offering state-of-the-art veterinary medical technology.
1.2 Keys to Success
- We treat our patients as if they were our own pets and try to offer customers the service that they desire and deserve.
- We take an individualized approach to the long-term care of each of our patients and are dedicated to providing our clients with enough information to make appropriate decisions concerning the health care of their animal companions.
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How to write a Veterinary Clinic Business Plan: Complete Guide
- January 3, 2023
Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) to start your veterinary clinic , you will first need to prepare a solid business plan.
In this article we go through, step-by-step, all the different sections you need in the business plan of your veterinary clinic. Use this template to create a complete, clear and solid business plan that get you funded.
1. Veterinary Clinic Executive Summary
The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.
Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.
Why do you need a business plan for a veterinary clinic?
The purpose of a business plan is to secure funding through one of the following channels:
- Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
- Obtain private investments from investment funds, angel investors, etc.
- Obtain a public or a private grant
How to write your veterinary clinic’s executive summary?
Provide a precise and high-level summary of every section that you have included in the business plan of your veterinary clinic. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.
Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.
The executive summary usually consists of 5 major sub-sections:
- Business overview : start by introducing your veterinary clinic, where it is located, how big it is (space and number of veterinary doctors). Also mention the services and treatments you offer (for example if you specialise in livestock e.g. cattle, horses, etc.) and their average prices
- Market analysis : summarise the market where you will operate and provide a brief about your target audience (what type of animals – pets vs. livestock vs. exotic animals – and their owners – age, demographics), market size , competitors, etc.
- People : hiring goes beyond the medical staff for a veterinary clinic. Indeed, if you open a private practice, you may also need a receptionist, a cleaner, and other support staff members. And if you are partnering with other doctors to form a joint partnership, mention every partner’s role in the setup as well as their experience
- Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart with your key financials (revenue, gross profit, net profit )
- Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?
Veterinary Clinic Financial Model
Download an expert-built 5-year Excel financial model for your business plan
2. Veterinary Clinic Business Overview
In the business overview section of your business plan, you should explain in detail what clinic you plan to open. A few questions you will need to answer here are:
- Why are you starting a veterinary clinic today?
- Where exactly is your veterinary clinic located? Why did you choose that location?
- What type of veterinary clinic are you opening (franchise vs. independent)?
- Which veterinary services will you provide? For whom / what?
- What will be your operating hours / days?
- What is the capacity of your veterinary clinic (how many doctors will be working in your clinic)?
- What will be the legal structure of your company (partnership, corporation)?
a) History of the Project
Any business overview must start with explaining the history of the project. There are 2 components here:
- Passion & experience of the business owner
- Rationale behind starting a veterinary clinic today
Passion & experience
You may or may not have prior experience working in the veterinary industry. So, make it clear in this section to help clients understand what to expect from your clinic. Of course, prior experience gives you an edge over your competitors, showing the clients why they should choose your practice over the rest.
Most often, veterinary doctors working in clinics eventually decide to start their own clinic. Yet it isn’t always the case: if you have entrepreneurial experience and a background in the industry (but you’re not necessarily a licensed doctor), you may want to start a veterinary clinic. If the latter though, you will likely start either a franchise or a large clinic (as you may struggle to cover you own salary with a small independent clinic).
With passion and experience comes more responsibility. And after proving that you have what it takes to run a successful facility, the next step is to explain why you think opening a veterinary clinic in that region is the right decision.
For instance, if there may be a shortage of veterinarians to treat livestock like cattle and horses. With the right specialisation and knowledge, you could fill that gap.
b) Business Model
Now, you must explain which business model you selected for your veterinary clinic. First, you must choose between independent practice and purchasing an established franchise.
Yet, that’s not all, you should choose the type of clinic you want to run, and for that you must answer the following questions:
- Will you target a specific category of animals or treat all groups (for instance, livestock vs. exotic animals vs. pets)?
- Will you provide special services (e.g. surgery, re-education, physical therapy) or simply routine care treatments and checkups?
- Will you provide mobile services or work within your premises (home visits vs. clinic)?
What are the different types of veterinary clinics?
Here are a few business models commonly adopted by many veterinarians:
- Companion Animal Clinics : veterinarians treat and look after small animals like pocket pets, cats, and dogs. This is the most popular type of veterinary practice managed by general practitioners. Veterinarians in this setup are qualified to handle basic procedures like surgery, diagnosis, and treatments
- Exotic Animal Clinics : such veterinarians specialize in caring for exotic animals like birds, amphibians, reptiles, and pocket pets
- Livestock and Large Animal Clinics : these professionals care for livestock and large animals like cattle, sheep, goats, pigs, and horses
- Laboratory Veterinarians : these are lesser-known veterinarians specializing in different fields such as pathology, infectious disease management, and pharmacology research, among the rest
- Veterinary Specialists : veterinary specialists specialize in popular fields like dentistry, cardiology, and anesthesiology
c) Products & Services
It’s important to tailor your veterinary services according to the market needs. That means everything depends on the location and the type of veterinary clinic. There’s no doubt that the nature and type of veterinary services will also influence your sales and profitability .
Generally, veterinary services fall into four categories: clinical services, preventive, drugs and vaccines, and human health protection.
For example, a full-service veterinary clinic will probably specialize in one or more of the following services;
- Spraying and neutering
- Examinations and diagnosis (coat, skin, teeth, temperature, etc.)
- Emergency care
- Medicinal treatments
- Weight management
- Veterinary surgery
- Dental treatments
- Laboratory services
- End-of-life services
What about products?
It may be a great idea to add merchandising to your veterinary clinic revenue streams. For example, you can showcase in your clinic (or even better, online) curated partners’ products for pets and animals.
Whilst it can easily take some of your time to sell these products (negotiation with vendors and sales to your customers), it can add a significant chunk of revenue and maximise your profits .
d) Pricing Strategy
Lenders and investors need a clear picture of your pricing structure. And that’s exactly what you should mention here. Get the average cost of veterinary services in the area you want to operate and use it as an inspiration when making your pricing list.
Going with fixed rates isn’t always the best decision. Instead, give price ranges depending on your research and proper analysis of the veterinary industry in the region.
When preparing your pricing list, make sure to take into considerations regulation (threshold, maximums if any) as well as whether the treatments and services are usually reimbursed by the most common insurance policies, and to what extent.
e) Legal Structure
Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?
3. Veterinary Clinic Market Overview
You must understand the market you wish to operate. For instance, specialising in farm animal care may not be your priority in an affluent area where most individuals own domestic pets.
To help you make the right decision when assessing the market, your analysis should focus on the following:
- Veterinary industry status quo : how big is the veterinary industry in your region? What is the growth rate? And what are the factors influencing its growth or decline in the region?
- Competition overview : how many veterinary clinics are in the region? How do they compare to your setup? How can you differentiate yourself from them?
- Customer analysis : who exactly is your target audience (your customers and their pets / animals)? What type of veterinary services do they need? How often do they need veterinary services? How much are they willing to spend on veterinary treatments on average? Do they have any insurance policies for their pets / animals?
a) Veterinary Industry Status Quo
How big is the veterinary industry in the us.
The veterinary industry in the US is estimated to be worth about $11 billion in 2022 . This is attributed to the increasing number of pets in recent years and the subsequent demand for veterinary services.
How many veterinary clinics are there in the US ?
In a 2017 report , the American Veterinary Medical Association (AVMA) estimated there were about 28,000 to 30,000 veterinary practices in the US, catering primarily to companion animals (cats and dogs).
Most of these practices are owned by veterinary doctors themselves, of partnerships of doctors. Indeed, only 10-12% of these clinics were owner by corporations instead.
Although there is no recent figure publicly available online, it’s safe to assume the number of veterinary clinics has increased in line with the total market growth rate of 4.8% per year during the same period (2017-22).
This means there are around 35,000 to 40,000 veterinary clinics in the US in 2022.
In terms of revenue, veterinary clinics generate each an average turnover of $275,000 to $325,000.
How big is the veterinary industry in your area?
After getting a clear picture of the dental industry in the US as a whole, narrow down to your location. It’s very likely that you won’t find the number anywhere (at least not for free).
In that case, you can use our guide to estimate the TAM, SAM, and SOM for your business. Here is an example of how to do it:
For example, we know that each veterinary clinic gross on average $275,000 to $325,000 in sales per year.
So, if there are 20 veterinary clinics in the area you plan to open yours, you can safely assume that the veterinary industry in your area is valued at around $5,500,000 to $6,500,000.
How fast is the veterinary industry growing in your city?
Looking at publicly available reports online, we know that the average annual growth of the industry was 4.8% from 2017 to 2022 and is expected to accelerate to 8.7% per year from 2022 to 2030.
What about where you live? US national averages can be a great addition to your business plan, yet they don’t necessarily help to assess the veterinary industry where you plan to operate. For example, the industry might be growing in the US, but declining in your region for a number of reasons (decreasing population or disposable income, etc.).
As you likely won’t find this information online, you can instead rely on the number of clinics to calculate the average growth rate of the industry in your area.
For example, if the region had only 15 veterinary clinics in 2016, which increased to 20 in 2022, you can assume that the average annual growth rate of the veterinary industry in the region is around 5%, in line with the US average.
b) Competition Overview
Take some time to assess the level of competition in the area you want to open your clinic. While doing so, evaluate the strengths and weaknesses of your biggest competitors, their marketing strategies, and services.
This will help you assess the challenges you will face to compete with them as a new business, but also to form effective marketing strategies to attract new customers.
It’s always a good idea to do some research and create a comparative table summarizing your competitors’ services, marketing strategies, target audience, etc.
Here is a sample table that you can use:
c) Customer Analysis
Use this section to describe your target customers: the animals (pets, livestock, etc.) and their owners (age, demographics, disposable income, etc.).
In order to carefully assess your target market where you plan to operate, you can consult pet owners in the region to get the following details:
- Their average expenses on veterinary services
- Frequency of seeking veterinary services
- Average spending on veterinary services (per year)
- The most popular veterinary service
- Their opinion on the existing veterinary clinics (what they like and dislike about the existing clinics)
4. Sales & Marketing
This section of the veterinary clinic business plan summarizes your strategy for acquiring and retaining new clients.
To treat someone’s pet, you must first win their trust, especially if you’re a new business trying to attract customers from existing clinics.
So, here are a few questions to help you stand out when shaping your marketing strategy:
- What are the different marketing strategies you will use?
- How do you intend to track the success of your marketing strategy?
- What is your customer acquisition cost (CAC) ?
- What is your marketing budget?
What are your Unique Selling Points (USPs)?
- What introductory promos and offers do you intend to provide for attracting new customers?
What marketing channels do veterinary clinics typically use?
A few marketing channels used by veterinary clinics include;
- Signage (especially if you’re close to a busy street)
- Word-of-mouth, recommendations
- Online local listing (Google Business)
- PPC ads, Facebook ads, etc.
- Email, SMS marketing (to remind existing customers of regular checkups for example)
- Content marketing on social media and blogs
In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors in the early days.
A few examples of USPs for veterinary clinics are:
- Specialization : you may be the best veterinary out there specialising on companion animals’ muscle re-education, rehabilitation and physical therapy
- Location : your clinic may be located closer to your target audience and/or closer to a busy street where new potential customers can see your signage
- Price : your services may be cheaper vs. competitors
- Referrals and partnerships : you could partner with well-known veterinary brands (and resell their products) that would refer you to their customers via email or SMS marketing
- Offers and promos : you may offer discount rates on subsequent visits
5. Management & People
You must address 2 things here:
- The management team and their experience/track record
- The organizational structure : different team members and who reports to whom?
Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of the other veterinary doctors that you intend to hire to oversee your veterinary clinic.
For the veterinary doctors and general partners, describe their duties, responsibilities, and roles. Also, highlight their previous experience and track record.
For the receptionists, personal assistants, office managers, veterinary assistants, etc. no need to go into a lot of detail, especially as it’s likely you won’t have hired them yet before you get the funding you need, which is the objective of this business plan.
b) Organization Structure
Even if you haven’t already hired anyone yet, you must provide a chart of the organizational structure defining the hierarchy of reporting.
6. Veterinary Clinic Financial Plan
The financial plan is perhaps, with the executive summary, the most important section of any business plan for a veterinary clinic.
Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your veterinary clinic is an attractive investment.
There should be 2 sections to your financial plan section:
- The startup costs of your veterinary clinic
- The 5-year financial projections
a) Startup Costs
Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a veterinary clinic, startup costs are all the expenses you incur before you open your veterinary clinic .
These expenses typically are: the lease for the space, the renovation costs, the equipment and furniture.
Logically, the startup costs vary depending on the size of your clinic, the treatments you will offer (and therefore the equipment you need), the quality of the equipment and furniture, whether you buy the real estate or rent a commercial space, etc.
On average, it costs $467,500 to $839,500 to start a veterinary clinic with 2 veterinary doctors in the US.
Note that these costs are for illustrative purposes and may not be fully relevant for your business.
b) Financial Projections
In addition to startup costs, you will now need to build a solid 5-year financial model for your veterinary clinic.
Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in the business plan of your veterinary clinic.
As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.
Your financial projections should answer at least the following questions:
- How much revenue do you expect to generate over the next 5 years?
- When do you expect to break even?
- How much cash will you burn until you get there ( cash burn )?
- What’s the impact of a change in pricing (say 15%) on your margins?
- What is your average customer acquisition cost?
You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:
- The number of pets / animals you can treat in a day or in a week;
- Your expected revenue ;
- Operating costs to run the business ;
- Any other cash flow items (e.g. capex, debt repayment, etc.).
When projecting your revenue, make sure to sensitize pricing (prices of treatments and services) and your sales volume (number of customers). Indeed, a small change in these assumptions may have a significant impact on your revenues and profits.
7. Use of Funds
This is the last section of the business plan of your veterinary clinic. Now that we have explained what your veterinary clinic’s business model and services are, your marketing strategy, etc., this section must now answer the following questions:
- How much funding do you need ?
- What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
- How long will this funding last?
- Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)
Use of Funds
Any veterinary clinic business plan should include a clear use of funds section. This is where you explain how the money will be spent.
Will you spend most of the loan / investment in paying your employees’ salaries? Or will it cover mostly the cost for the lease deposit for the space, the renovation and equipment?
Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our veterinary clinic financial model template , you won’t have any issues answering these questions.
For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.
Veterinary Clinic Business Plan Template
Written by Dave Lavinsky
Veterinary Clinic Business Plan
Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their veterinary clinics. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a veterinary clinic business plan template step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your veterinary clinic as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a veterinary clinic, or grow your existing veterinary clinic, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your veterinary clinic in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Veterinary Clinic Businesses
With regards to funding, the main sources of funding for a veterinary clinic are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.Personal savings is the other most common form of funding for a veterinary clinic. With that said, personal savings and bank loans are the most common funding paths for veterinary clinics.
How to Write a Business Plan for a Veterinary Clinic
If you want to start a veterinary clinic or expand your current one, you need a business plan. Below we detail what should be included in each section of a traditional business plan for a veterinary practice.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of veterinary clinic or practice you are operating and the status. For example, are you a startup, do you have a veterinary clinic that you would like to grow, or are you operating a chain of veterinary clinics?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the veterinary clinic industry. Discuss the type of veterinary business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of veterinary business you are operating.
For example, you might operate one of the following types of veterinary clinics:
- Small Animal Practice : this type of veterinary clinic focuses on treating small animals, or companion pets, such as cats and dogs.
- Large Animal Practice: this type of veterinary clinic treats larger animals such as horses, cows and other livestock.
- Emergency Veterinary Clinic: this type of veterinary clinic treats animals in emergency situations, such as after-hours illnesses, injuries or allergic reactions.
In addition to explaining the type of you will operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, total number of animals treated, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry analysis, you need to provide an overview of the veterinary clinic industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the veterinary clinic industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy, particularly if your research identifies market trends.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section:
- How big is the veterinary clinic industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your veterinary practice? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: pet owners, livestock owners such as farmers and ranchers, and horse owners.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of veterinary clinic you operate. Clearly, dog and cat owners would respond to different marketing promotions than ranchers, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most veterinary clinics primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other veterinary clinics.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes virtual veterinarians or pet telemedicine. You need to mention such competition as well.
With regards to direct competition, you want to describe the other veterinary clinics with which you compete. Most likely, your direct competitors will be veterinary clinics located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of animals do they treat?
- What types of treatments do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide better animal treatments?
- Will you provide services that your competitors don’t offer?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a veterinary practice, your marketing plan should include the following:
Product : In the product section, you should reiterate the type of veterinary clinic company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to operating as a veterinary clinic, will you provide dental services or grooming services?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place : Place refers to the location of your veterinary clinic company. Document your location and mention how the location will impact your success. For example, is your veterinary clinic located in a busy retail district, in an agricultural district, etc. Discuss how your location might be the ideal location for your customers.
Promotions : The final part of your veterinary clinic marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local websites
- Social media marketing
- Local radio advertising
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your , including scheduling appointments, marketing tasks, meeting with owners, treating animals and billing.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to treat your 1,000th animal, or when you hope to reach $X in revenue. It could also be when you expect to expand your veterinary clinic to a new or larger location.
To demonstrate your veterinary clinic’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in managing veterinary clinics. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing veterinary clinics or successfully running small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you treat 50 animals per day or per week? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your veterinary clinic business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a veterinary clinic business:
- Location build-out including design fees, construction, etc.
- Cost of equipment and supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your clinic location lease or descriptions of animal treatments you are conducting.
Putting together a business plan for your veterinary clinic is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the veterinary clinic industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful veterinary clinic business.
Veterinary Clinic Business Plan FAQs
What is the easiest way to complete my veterinary clinic business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily complete a business plan for a veterinary practice.
What is the Goal of a Business Plan's Executive Summary?
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of veterinary clinic you are operating and the status; for example, are you a startup, do you have a veterinary clinic that you would like to grow, or are you operating a chain of veterinary clinics?
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Veterinary Clinic Business Plan Sample
Veterinary clinic business plan for starting your own
Veterinary clinics exist to serve the medical needs of various animals such as dogs, cats, birds, fish, etc. According to the American Pets association statistics, there are more than 300 million pets in America. These pets at one time or the other require medical services and therefore, they are usually taken to veterinary clinics. If you have medical expertise and you are passionate about animals, a business plan for a veterinary clinic might be something that interests you.
If you are unsure about how to open your own veterinary clinic, you can start by drafting a business plan that will give you an insight into the market. Here we have a business plan for Focused Pet Care. It is articulated by best business plan experts in the United States, hence it can help you get a head start.
2.1 the business.
Focus Pet Care is a standard veterinary clinic located in New York, USA. We intend to offer standard medical services such as medical examination, diagnosis, treatment, and surgery to pets such as cats, dogs, birds, iguanas, and other animals. We intend to also offer consultancy and advisory services to our clients regarding their pets.
2.2 Management of veterinary clinic
While starting a vet clinic, it is essential to ensure that all aspects of the business are coherent. Hence, you must prepare a unique veterinary business plan before launching your business.
A veterinary practice business plan will be somewhat like a business plan for dog kennel . You can read a few business plans and develop a management strategy for your startup but it is not considered a good approach. It is recommended to hire professionals and get a customized business plan in line with your resources and objectives for your startup.
2.3 Customers of the veterinary clinic
Even when you hire business planning services to get a business plan written, you still need to do some work yourself. You need to find out which groups can be your potential customers and whether they are the same customer groups that you want to attract. Although Focused Pet Care will offer services to everyone with pets, running a veterinary practice in New York will particularly interest the following customer groups:
- Young, Single Adults
- Corporate Executives
2.4 Business Target
Starting a veterinary practice from scratch can be challenging. it requires streamlining of long-term objectives and goals. our vision is to be recognized for the standard medical practices we offer and be the go-to clinic for all pet owners residing here in the vicinity..
3.1 company owner.
Edward Miller is a veterinary doctor who has worked in several veterinary hospitals in New York and has garnered administrative and practical experiences in surgery, dental care, reproductive issues, and skin disorders in animals.
3.2 Why the veterinary clinic is being started
Edward Miller noticed an increasing gap between the demand and supply of veterinary care in New York City. This wedge resulted in high prices charged by vets and they offered substandard services in return. To provide quality healthcare to animals in the vicinity, Edward decided to open a clinic of his own. Focused Pet Care is his first-ever veterinary practice start up.
3.3 How the veterinary clinic will be started
Step1: Planning the Business
Opening a veterinary practice start up can be a challenging task and requires proper planning that needs to be done ahead of time. A comprehensive business plan can help you analyze different strategies that suit your startup. It also enables you to do a cost-benefit analysis.
The next step is to define your business’s services and values to get recognized. Having the proper business structure is very important to brand your startup. At Focused Pet Care, we aim to base our company on customer-centric lines. To ensure smooth business operations and to deliver the best possible services, we hired the best employees who are competent and have the right experience.
Step3: Find a Physical Space
Since running a veterinary clinic requires constant supervision and monitoring, Edward decided to have his corporate office in the same building as Focused Pet Care. This can help him visit the clinics at any time and keep a strict check on business operations.
Step4: Online Presence
Living in an age of social media and digitalization, having a web presence is imperative for a company’s success. Having an online website would help potential customers understand the services offered by your business. In addition, they would also be able to book appointments accordingly.
Step5: Promote and Market
When you start working on your vet clinic business plan, you get an idea of how much it costs to open a vet clinic. The costs are similar to those in horse boarding business plan . To meet these costs and earn a profit, you must employ effective marketing strategies that align with your long-term goals
Services of veterinary clinic
Starting your own veterinary practice can be daunting and confusing. The key behind building a successful veterinary practice is to identify your target market and understand their needs thoroughly. In this way, you will be able to decide which services to offer. In this business plan veterinary clinic, we are listing the services offered by Focused Pet Care:
- General Examination
During a routine wellness examination, vets at Focused Pet Care will ask you questions about your pet’s diet, exercise, breathing, behavior, habits, elimination patterns (i.e., bowel movements and urination), lifestyle, and general health. Based on your pet’s history and physical examination, your veterinarian will then make recommendations for specific preventive medicine treatments such as vaccination, parasite control, nutrition, and skin and coat care.
- Surgical Facilities
Our state-of-the-art surgical suite will offer various surgical procedures such as fracture repair, exploratory procedures, and routine surgeries such as spays and neuters.
- Internal Medicine
We will offer complete in-hospital diagnostic procedures, including blood work, endoscopic capabilities, and ultrasound. Consultation with specialists nationwide can be arranged too if needed.
- Grooming Kits
Pet owners who are particular about what shampoos, wipes, and combs to use for their pets are cared for at Focused Pet Care. Our experienced vets offer consultancy services to pet owners and offer them customized grooming kits for their cats and dogs.
While working on your business plan for a mobile veterinary clinic, you will get an idea of how much it costs to buy a veterinary practice and hence, can arrange for funding accordingly.
Marketing Analysis of veterinary clinic
5.1 market trends, excellent work.
excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!
The veterinary services industry’s life cycle has been described as being in its growth phase. The Industry Value Added (IVA), which is used to indicate the industry’s contribution to the economy, has been pegged to grow at 2.9% between 2011 and 2022. The U.S economy, in comparison, is expected to grow at 2.2% in the same period.
The advent of new technologies has seen many professionals in the human healthcare sector migrate to veterinary medicine, as the industry continues to grow due to other factors such as pet ownership, availability of advanced diagnostic and surgical procedures, as well as the increasing awareness of animal health issues. Hence if you have some unique vet clinic ideas, this would be the right time for starting a veterinary business.
5.2 Marketing Segmentation
Defining your target market is essential before starting your own veterinary practice. In this sample business plan for veterinary clinic, the following are the customer groups catered by Focused Pet Care:
Households with pets are the recurring customers of Focused Pet Care. Since pets are like family members of a household, they deserve the best possible care. At Focused Pet Care, they are entitled to get it from us.
This group is pivotal to the success of the clinic. They are the most proactive regarding the health of their pets and demand a strong relationship with their pet’s veterinarian. In return, they will become loyal customers who will refer both friends and neighbors.
5.2.3 Young single adults
This group is primarily reactive to the health of their pets and will usually only visit the clinic for emergencies, reproduction services, and shots. This group will not visit us often but is still expected to be a significant source of customers from the community.
5.2.4 Working people
Due to their tiring jobs, working people are heavily dependent on veterinary clinics for all sorts of health-related concerns related to their pets. They might not spend a lot of time with their pets and hence might not notice any changes in their health until it worsens. The corporate lifestyle is quite mainstream in NYC. Therefore opening a veterinary clinic will be a good business opportunity for Focused Pet Care.
5.3 Business Target
- Running a veterinary practice with profit margins of 25% after the first year of business.
- Incorporating a dog daycare business plan in the operations of the veterinary clinic to expand the scope of services.
- Capturing a market share of 30% in the next three years of operations.
- Having a customer satisfaction score of 98%.
5.4 Product Pricing
Under this sample veterinary business plan, Focused Pet Care intends to lower its rates in the first 6 months of business. This will be seen as part of our promotion strategy to increase awareness about our veterinary clinic amongst potential customers.
Marketing Strategy of veterinary clinic
In this veterinary clinic business plan pdf, you will find a veterinary marketing plan used by Focused Pet Care. Marketing for any business is vital as it ensures that the company gains publicity and generates money. To have effective marketing strategies, we intend to conduct a market survey that will help us understand the market we are going into and figure out how best to penetrate this market.
Provided that this veterinary business plan template is quite detailed, you can refer to the marketing strategies used by Focused Pet Care and see if any of them resonates with your business idea.
6.1 Competitive Analysis
- The services at Focused Pet Care would be offered by professional vets who have practice worth 7+ years.
- Building a veterinary clinic that has state-of-the-art and standardized medical facilities for our various customers.
- On-the-job training will be provided to most of the employees at the clinic to ensure that your pet is in safe hands.
- The introductory prices offered by Focused Pet Care Clinic would be lower than the market rates without any compromise on the quality of services.
6.2 Sales Strategy
- Ensure that Focused Pet Care is enlisted on offline and online directories
- Make use of social media platforms such as Facebook and Twitter
- Engage in direct marketing
- Use direct word-of-mouth marketing
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan of veterinary clinic
The average cost of executing veterinary business ideas is in almost the same range as mentioned in business plan of a dog training center . It is important to account for different kinds of costs to forecast financial returns accordingly. In this business plan for veterinary clinic, we are taking down the average salaries of employees at pet hotels.
7.1 Company Staff
As per this veterinary clinic business plan sample pdf, Little Paws will hire for the following positions:
- 1 Managing Director
- 2 Veterinary Doctors
- 4 Veterinary Assistants
- 1 Accountant
- 1 Purchasing Manager
7.2 Average Salary of Employees
Financial plan of veterinary clinic.
A sole focus on increasing sales does not ensure that your business has become successful and will yield profits. It would help if you did a thorough analysis of the veterinary clinic start up costs and estimated the operations’ capacity for your business accordingly.
In your financial plan, you must identify when and how to cover your investment amount with the earned profits. Moreover, it would help analyze your yearly expenses to determine the possibilities of reaching an economy of scale. A veterinary clinic business plan should also include an in-depth financial analysis which gives an idea of how much it costs to start a veterinary clinic and how much you need to earn to sustain the business.
While analyzing how much it costs to open a veterinary clinic , you must familiarize yourself with different business models such as a pet photography business plan . It will help you understand the industry better.
Here we’re providing a business plan used by Focused Pet Care for you to use as a reference.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
- Are veterinary clinics profitable?
If you open vet clinics, you can typically generate a profit of $50k per month by the second or third year. However, it is only possible when you efficiently manage the business.
- How do I set up a vet business plan?
To have a veterinarian business plan of your own, you need to:
- Research how your competitors are doing the business
- Explore services that can be offered
- Decide the audience you want to serve
- Plan your veterinary practice
- Form your veterinary practice into a legal entity
- Register your veterinary practice for taxes
- Open a business bank account & credit card
- Set up accounts for your veterinary practice
- Get the necessary permits & licenses for your veterinary practice
- Get veterinary practice insurance
- Define your veterinary practice brand
- Create your veterinary practice website
- Set up your business phone system
- How much money do you need to start a veterinary clinic?
For an average price of $1,000,000, you’ll be able to open a small animal clinic from the ground up. At $250,000, the cost of starting a mobile veterinary practice is much more affordable. It depends on what business plan veterinary clinic you follow.
- Is a vet clinic a good investment?
To make an investment profitable, you need to have a strong veterinary clinic marketing plan. The investment required to set up a clinic is similar to that mentioned in a business plan for dog walking . A vet clinic is certainly a great investment as it has high returns. The average full-time equivalent (FTE) veterinarian produces roughly $550,000 to $600,000 a year.
Download Veterinary Clinic Business Plan Sample in pdf
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Veterinary Clinic Business Plan Template
Veterinary clinic business plan.
You’ve come to the right place to create your Veterinary Clinic business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Veterinary Clinics.
Below is a veterinary business plan template example to help you create a plan for your own Vet Practice.
Northeast Veterinary Clinic is a startup veterinary practice located in Stamford, Connecticut. The company is founded by Anthony Anderson, a veterinarian who has extensive experience as a veterinarian at a large clinic in the city of Brooklyn, New York. During the ten years of his employment, Anthony provided his services to household animals, developing expertise in maternity care, birthing, and after-birth care of dogs and cats. Because of this expertise, Anthony is considered the most experienced veterinarian in the northeast in the management of prenatal, birthing and post-natal care of dogs and cats. He leads a social media group that discusses issues and solutions for the owners and caregivers of dogs and cats in maternity and birthing questions and answers and has collected over 10,000 followers of his blogs and podcasts.
Northeast Veterinary Clinic will provide a comprehensive array of services to household pets, including dogs, cats, birds, and other domesticated animals and their owners who need the best care for their animals. Northeast Veterinary Clinic will be a one-stop shop for all care needs, such as: dental care, wellness visits, weight control, aging issues, vaccinations, travel medications and customs declarations, general medicine and surgical care, specialized maternity, birthing and post-natal care, along with boarding care while owners are absent.
The following are the services that the Northeast Veterinary will provide:
- Surgical services
- General medicine
- Prenatal, birthing, and maternity services
- Wellness care and health management
- Boarding services for cats, dogs, birds and domesticated animals
Northeast Veterinary Clinic will target the owners of household animals. In addition, they will target the owners of pets who work in nearby corporate centers. They will target animal owners who need specialty assistance with dogs or cats in prenatal, birthing or post-natal care. The clinic will also provide boarding services to owners within the geographical region. No matter the animal needs, Northeast Veterinary will provide the best care and comfort for every animal, to the best of their abilities, and with the added benefit of reasonable rates.
Northeast Veterinary Clinic will be owned and operated by Anthony Anderson. He has invited two veterinarians to join him in this startup, along with his longtime administrative assistant, who will help with the startup and general oversight of the new business.
Anthony Anderson graduated as a Doctor of Veterinary Services from the University of Connecticut. For ten years, he was employed by Eastside Veterinary Clinic in Brooklyn, New York, where he refined his practice and gained expertise and a following as a specialist in prenatal, birthing, and post-natal care for dogs and cats. He garnered several patients during this time and has been assured by the owners of his patients that they are ready to follow him as he opens his own practice.
Northeast Veterinary Clinic will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly qualified team of veterinarians and staff members
- Comprehensive menu of services for domestic animals.
- Northeast Veterinary offers the best pricing in Stamford, Connecticut. Their pricing structure is the most cost effective compared to the competition.
Northeast Veterinary is seeking $200,000 in debt financing to launch its veterinarian services. The funding will be dedicated toward securing the office space and purchasing medical equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and website development. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph below outlines the financial projections for the Northeast Veterinary Clinic.
Who is the northeast veterinary clinic.
Northeast Veterinary Clinic is a newly established full-service veterinary practice in Stamford, Connecticut. Northeast Veterinary Clinic will be the most reliable, cost-effective, and efficient choice for household pets and their owners in Stamford, Connecticut and the surrounding communities. Northeast Veterinary will provide a comprehensive menu of veterinary and boarding services for any owner of pets and domesticated animals to utilize. Their full-service approach includes a comprehensive set of packages and plans for services, including dentistry and specialized maternity care.
Northeast Veterinary Clinic will be able to offer a wide array of veterinary services, including surgery, general medical care, vaccinations, maternity care, dentistry, wellness visits and boarding for pets whose owners are away. The team of professionals are highly qualified and experienced in veterinary medicine and the health and wellbeing of animals. Northeast Veterinary removes all headaches and issues of the pet owners and ensures all issues are taken care off expeditiously while delivering the best customer service for the precious pets.
Northeast Veterinary Clinic History
Since incorporation, the company has achieved the following milestones:
- Registered Northeast Veterinary Clinic, LLC to transact business in the state of Connecticut.
- Has a contract in place for 10,000 square feet of office space.
- Reached out to numerous contacts to include Northeast Veterinary Clinic as providers of animal and pet care.
- Began recruiting a staff of employees.
Northeast Veterinary Clinic Services
The following will be the services the vet clinic will provide:
The veterinarian medical industry is expected to grow over 5% during the next five years to over $148 million. The growth will be driven by the number of pets and domestic animals being housed by owners, as the population of individuals increases. As uncertain economic events or unforeseen changes occur in the world, individuals more often turn to animals, in particular pets, to provide comfort and a sense of stability in relationships. The care and concern for pets will continue to build as a natural outgrowth of that concern. Costs will likely be reduced as supply chain issues from former years begin to abate and more technical advances are made. Both supply and product quality will increase, causing product costs to drop.
Demographic profile of target market.
Northeast Veterinary Clinic will target those pet owners in Stamford, Connecticut and the surrounding areas. They will target pet owners and corporate centers where pet owners work.
Northeast Veterinary Clinic will primarily target the following customer profiles:
- Pet caregivers
- Animal boarding services
- Veterinarians who need specialized services
Direct and indirect competitors.
Northeast Veterinary Clinic will face competition from other companies with similar business profiles. A description of each competitor company is below.
New York City Animal Urgent Care
The New York City Animal Urgent Care group is a drop-in service for owners who need animal care urgently. This usually entails cuts, broken bones, and other uncomplicated procedures outside of general anesthesia. In addition, dentistry may be added to the service roster. The New York City Animal Urgent Care group is one that caters to the New York City population, who normally have small dogs or cats. Many owners are upper class and have staff members to care for the animals. The New York City Animal Urgent Care group was formed in 2020 as a C-corporation, with several veterinarians combining to offer rotations of service in the lucrative urgent care business.
Brooklyn Veterinary/h4> As the former employer of Anthony Anderson, Brooklyn Veterinary is a direct competitor. Services offered include general surgery, general medicine, wellness visits, vaccinations, medical prescriptions for travel and other special services for dogs and cats. Former owners of animals seen by Anderson may opt to continue using the Brooklyn Veterinary due to the proximity to their homes or offices instead of following Anderson to Stamford, Connecticut for treatment for their animals. Brooklyn Veterinary was founded in 2008 by two veterinarians who graduated from University of New York with doctoral degrees in veterinary services. Emmanuel Golden and Benjamin Baker chose to work full-time in a residential area of the city of Brooklyn, focusing on animal care for domesticated animals. They do not offer maternity care for pets, opting instead to send the patients to Anthony Anderson for appropriate care. Stamford Animal Care
Stamford Animal Care was established in 1979 by a father and son team of veterinarians. The company is a direct competitor to the Northeast Veterinary Clinic due to the services offered and the comprehensive level of care provided for household animals. The service also focuses on hawks, falcons and other raptors, involving the owners of the business in falconry as a sport and also as a service provided for falcons. Stamford Animal Care targets all population members, while offering valid services, does not advertise online when it comes time to check pricing.
The owners of Stamford Animal Care made the choice last year to join a chain of veterinary clinics across the U.S., to provide the highest-quality of care under the umbrella of many clinics from which to choose who are reliable.
Northeast Veterinary Clinic will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly qualified team of veterinarians and staff members.
- Comprehensive menu of services for domestic pets and animals.
- Specialized services for dogs or cats with prenatal, birthing or post-natal needs.
- Boarding services for cats or dogs while owners are absent.
- Northeast Veterinary Clinic offers the best pricing in Stamford, Connecticut. Their pricing structure is the most cost effective compared to the competition.
Brand & value proposition.
Northeast Veterinary Clinic will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled veterinarians and employees that is able to provide a comprehensive set of package services and plans for animals.
- Specialized services for prenatal, birthing, and post-natal care for dogs and cats.
- Unbeatable pricing for its clients; their packages offer the most cost-efficient structure for pricing in Stamford, Connecticut.
The promotions strategy for Northeast Veterinary Clinic is as follows:
Word of Mouth/Referrals
Northeast Veterinary Clinic has built up an extensive list of contacts over the years by providing exceptional service and expertise to their clients. Those clients have indicated their satisfaction over the prior relationship, so they’ve decided to follow Anthony Anderson by bringing their animals to the new location and trust in the service Northeast Veterinary Clinic will provide. Although most of the former staff cannot follow Anthony to the new Northeast Veterinary Clinic, they have promised to send any questionable pregnancy cases to him at his new location, as well.
Professional Associations and Networking
The veterinarians at Northeast Veterinary Clinic, Anthony Anderson, Kyle Ericksson, and Melissa Morris, are all members of the National Association of Veterinarians and have spent some months networking with other members of this organization. In addition, the local Stamford, Connecticut Chamber of Commerce is active and has welcomed the three individuals into the local community, as well.
All residents within a twenty-mile radius of the new Northeast Veterinary Clinic will receive a direct mail piece introducing them to the clinic and offering discounted pricing on certain treatments and wellness visits. This discount will extend for the first three months of business.
Northeast Veterinary Clinic will utilize their administrative staff to oversee their website. The website will be well-organized, informative, and list all the services that Northeast Veterinary Clinic is able to provide. The website will also list their contact information and list their available services and plans with pricing attached to each for transparency to clients. The staff will also manage the website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Stamford veterinarian clinic” or “veterinarian near me”, Northeast Veterinary Clinic will be listed at the top of the search results.
The pricing of Northeast Veterinary Clinic will be moderate and on par with competitors so customers feel they receive value when purchasing their services.
The following will be the operations plan for Northeast Veterinary Clinic. Operation Functions:
- Anthony Anderson will be the Owner and President of the company. He will oversee all staff and manage client relations. Anthony has spent the past year recruiting the following staff:
- Kyle Ericksson will continue to act as a veterinarian and will handle the oversight of Operations, in addition.
- Melissa Morris, will continue to act as a veterinarian and take on the position of Office Manager, who will manage the office administration, client files, and accounts payable.
Northeast Veterinary Clinic will have the following milestones complete in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the Northeast Veterinary Clinic
- 6/1/202X – Finalize contracts for Northeast Veterinary Clinic clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into Northeast Veterinary Clinic office
- 7/1/202X – Northeast Veterinary Clinic opens its office for business
Northeast Veterinary Clinic will be owned and operated by Anthony Anderson. He recruited his former associates, Kyle Ericksson, a veterinarian friend, to be his Northeast Veterinary Clinic Operations manager and assist as needed. Also recruited was Melissa Morris, a veterinarian who worked alongside Anthony in their prior employment. She will act as a veterinarian and adopt the role of Office Manager in order to secure that position.
Key revenue & costs.
The revenue drivers for Northeast Veterinary Clinic are the Northeast Veterinary Clinic fees they will charge to the Northeast Veterinary Clinic for their services. .
The cost drivers will be the overhead costs required in order to Northeast Veterinary Clinic. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Northeast Veterinary Clinic is seeking $200,000 in debt financing to launch its property management business. The funding will be dedicated towards securing the surgical and examination space and purchasing office equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Pet Patients Per Month: 300
- Average Fees per Month: $65,000
- Office Lease per Year: $100,000
Income statement, balance sheet, cash flow statement, veterinary clinic business plan faqs, what is a veterinary clinic business plan.
A veterinary clinic business plan is a plan to start and/or grow your veterinary clinic business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Veterinary Clinic business plan using our Veterinary Clinic Business Plan Template here .
What are the Main Types of Veterinary Clinic Businesses?
There are a number of different kinds of veterinary clinic businesses , some examples include: Small Animal Practice, Large Animal Practice, and Emergency Veterinary Clinic.
How Do You Get Funding for Your Veterinary Clinic Business Plan?
Veterinary Clinic businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Veterinary Clinic Business?
Starting a veterinary clinic business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Veterinary Clinic Business Plan - The first step in starting a business is to create a detailed veterinary clinic business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your veterinary clinic business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your veterinary clinic business is in compliance with local laws.
3. Register Your Veterinary Clinic Business - Once you have chosen a legal structure, the next step is to register your veterinary clinic business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your veterinary clinic business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Veterinary Clinic Equipment & Supplies - In order to start your veterinary clinic business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your veterinary clinic business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
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Animal care business
Vet clinic business plan
Most people treat their pets like kids. Cats and dogs have become a part of our life and family. Same as us, they need treatment. It happens that pets get sick, and their owners have to do something about it.
Vet practices have escalated pretty fast. They are popular, thanks to the crazy demand. Many vet clinics treat pets and care about their mental health, appearance , and well-being.
Starting a vet clinic in the upcoming year may be an excellent idea for those who like animals. This way, you will benefit from helping the beloved ones. Launching such a startup requires similar steps as starting any other business .
If you have already started a pet store, consider opening a vet practice corner. There are many chances to succeed in this investment. The more quality services an entrepreneur offers, the more (s)he earns.
Yes, you do. Obtaining a veterinary license is compulsory in all states. If you don't have the document, think about starting a pet store that you can open without any special medical licenses.
Opening a veterinary business requires roughly $700 000. It is a considerable investment. However, the ROI is fast. An average vet clinic makes up to $500 000 yearly. We may see that the investment will come back in approximately 14 months, which is pretty adequate for the medical business.
It isn't. However, you'll benefit from making it multifunctional. Mostly, clients are eager to get simple veterinary services. But it happens that they need special treatment or unique equipment. So there are two ways. A business person can offer a wide range of simple but popular services. Or he can also invest in rare equipment to attract those who require such solutions.
Waxing business plan
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Veterinary Clinic Business Plan
A 60 billion-dollar vet service industry is booming rapidly. The demand for veterinary clinics is soaring high and it is the right time to monetize this lucrative market.
A medical professional or anyone on the lookout for new business opportunities can tap into this market. However, a well-defined business plan is a must to get this business running and growing smoothly.
Need help writing a business plan for your veterinary clinic business? You’re at the right place. Our veterinary clinic business plan template will help you get started.
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- Fill in the blanks – Outline
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How to Write A Veterinary Clinic Business Plan?
Writing a veterinary clinic business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:
1. Executive Summary
An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.
Here are a few key components to include in your executive summary:
Introduce your Business:
Start your executive summary by briefly introducing your business to your readers.
Products and services:.
Highlight the vet services you offer your clients. The USPs and differentiators you offer are always a plus.
Marketing & Sales Strategies:
Financial highlights:, call to action:.
Ensure your executive summary is clear, concise, easy to understand, and jargon-free.
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2. Business Overview
The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:
Describe your business in this section by providing all the basic information:
Describe what kind of veterinary clinic you run and the name of it. You may specialize in one of the following veterinary businesses:
- Small animal clinic
- Livestock and large animal clinic
- Exotic animal clinic
- Specialist clinic
- Emergency clinic
- Describe the legal structure of your veterinary clinic, whether it is a sole proprietorship, LLC, partnership, or others.
- Explain where your business is located and why you selected the place.
If you’re an established vet service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.
This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.
3. Market Analysis
The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.
Start this section by describing your target market. Define your ideal customer and explain what type of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.
Market size and growth potential:
Competitive analysis:, market trends:.
Analyze emerging trends in the industry, such as service expertise in exotic animals, telehealth solutions, online prescription refills, and delivery, etc. Explain how your business will cope with all the trends.
Here are a few tips for writing the market analysis section of your veterinary clinic business plan:
- Conduct market research, industry reports, and surveys to gather data.
- Provide specific and detailed information whenever possible.
- Illustrate your points with charts and graphs.
- Write your business plan keeping your target audience in mind.
4. Products And Services
The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:
Describe your services:
Mention the veterinary services your business will offer. This list may include services like,
- Clinical services
- Preventive services
- Vaccination and drug administration services
- Nutritional services
Describe your products
: Vet clinics can add significant bulk to their revenue stream by selling pet-related products. This may include,
- Prescription medications
- Preventive care products
- Nutritional products
- Grooming and hygiene products
- Dental and safety products
: This section should explain how you maintain quality standards and consistently provide the highest quality service.
In short, this section of your veterinary clinic plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.
5. Sales And Marketing Strategies
Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:
Unique Selling Proposition (USP):
Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.
Marketing strategies:, sales strategies:, customer retention:.
Overall, this section of your veterinary clinic business plan should focus on customer acquisition and retention.
Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your vet clinic, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.
6. Operations Plan
The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:
Staffing & Training:
Mention your vet business’s staffing requirements, including the number of professionals, caregivers, and employees needed. Include their qualifications, the training required, and the duties they will perform.
Equipment & machinery:.
Include the list of equipment and machinery required for the vet clinic, such as surgical equipment, cages, cleaning equipment, medical storage, etc.
Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.
7. Management Team
The management team section provides an overview of your veterinary clinic management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.
Introduce your management and key members of your team, and explain their roles and responsibilities.
Compensation plan:, advisors/consultants:.
Mentioning advisors or consultants in your business plans adds credibility to your business idea.
This section should describe the key personnel for your vet services, highlighting how you have the perfect team to succeed.
8. Financial Plan
Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:
Profit & loss statement:
Cash flow statement:, balance sheet:, break-even point:.
Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.
Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.
The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.
- Add a table of contents for the appendix section to help readers easily find specific information or sections.
- In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
- Provide data derived from market research, including stats about the vet industry, user demographics, and industry trends.
- Include any legal documents such as permits, licenses, and contracts.
- Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.
Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.
Remember, the appendix section of your veterinary clinic business plan should only include relevant and important information supporting your plan’s main content.
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This sample veterinary clinic business plan will provide an idea for writing a successful veterinary clinic plan, including all the essential components of your business.
After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our veterinary clinic business plan pdf .
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Frequently asked questions, why do you need a veterinary clinic business plan.
A business plan is an essential tool for anyone looking to start or run a successful vet business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.
Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your vet clinic.
Where to find business plan writers for your vet clinic?
There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your veterinary clinic business plan and outline your vision as you have in your mind.
How do I write a good market analysis in a veterinary clinic business plan?
Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:
- Stating the objective of your market analysis—e.g., investor funding.
- Industry study—market size, growth potential, market trends, etc.
- Identifying target market—based on user behavior and demographics.
- Analyzing direct and indirect competitors.
- Calculating market share—understanding TAM, SAM, and SOM.
- Knowing regulations and restrictions
- Organizing data and writing the first draft.
Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier
How detailed should the financial projections be in my veterinary clinic business plan?
The level of detail of the financial projections of your veterinary clinic business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a comprehensive view of your financial performance.
Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.
Can a good veterinary clinic business plan help me secure funding?
Indeed. A well-crafted veterinary clinic business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.
So, if you have a profitable and investable business, a comprehensive business plan can certainly help you secure your business funding.
What's the importance of a marketing strategy in a veterinary clinic business plan?
Marketing strategy is a key component of your veterinary clinic business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!
Here are a few pointers to help you understand the importance of having an impactful marketing strategy:
- It provides your business an edge over your competitors.
- It helps investors better understand your business and growth potential.
- It helps you develop products with the best profit potential.
- It helps you set accurate pricing for your products or services.
About the Author
Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more
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How to write a business plan for a veterinary clinic?
Creating a business plan for a veterinary clinic is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.
This guide is designed to provide you with the tools and knowledge necessary for creating a veterinary clinic business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.
We have a lot to cover, so let's get to it!
In this guide:
Why write a business plan for a veterinary clinic?
- What information is needed to create a business plan for a veterinary clinic?
- What goes in the financial forecast for a veterinary clinic?
- What goes in the written part of a veterinary clinic business plan?
- What tool can I use to write my veterinary clinic business plan?
Having a clear understanding of why you want to write a business plan for your veterinary clinic will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a veterinary clinic business plan.
To have a clear roadmap to grow the business
Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.
In this dynamic context, it's essential to have a clear roadmap for your veterinary clinic. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.
That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.
To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your veterinary clinic to be in the next three to five years.
Once you have a clear destination for your veterinary clinic, you'll focus on three key areas:
- Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
- Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
- Risks: you'll identify and address potential risks you might encounter along the way.
By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.
To get visibility on future cash flows
If your small veterinary clinic runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your veterinary clinic's future cash flows.
So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.
The good news is that your veterinary clinic business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.
To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.
By diligently monitoring your veterinary clinic's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.
To secure financing
Crafting a comprehensive business plan for your veterinary clinic, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.
Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.
For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).
Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your veterinary clinic has the potential for healthy growth, profitability, and consistent cash flow generation over time.
Now that you understand the importance of creating a business plan for your veterinary clinic, let's delve into the necessary information needed to craft an effective plan.
Information needed to create a business plan for a veterinary clinic
Drafting a veterinary clinic business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.
Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.
Carrying out market research for a veterinary clinic
As you consider writing your business plan for a veterinary clinic, conducting market research becomes a vital step to ensure accurate and realistic financial projections.
Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.
Through this research, you may uncover trends that could influence your veterinary clinic.
Your veterinary clinic's market research may reveal that pet owners in your area may be increasingly interested in holistic treatments for their pets, such as natural supplements and homeopathic remedies. Additionally, it could indicate that pet owners may be looking for more personalized care for their animals, such as more one-on-one time with their vet or more detailed advice about their pet's health.
Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.
By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your veterinary clinic.
Developing the marketing plan for a veterinary clinic
Before delving into your veterinary clinic business plan, it's imperative to budget for sales and marketing expenses.
To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.
Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.
By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.
The staffing and capital expenditure requirements of a veterinary clinic
Whether you are starting or expanding a veterinary clinic, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.
Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.
A veterinary clinic might incur staffing costs such as wages for veterinarians, veterinary technicians, veterinary assistants, and receptionists. They might also incur equipment costs such as surgical equipment, diagnostic imaging equipment, laboratory equipment, and anesthetic machines.
In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.).
Once you have all the necessary information to create a business plan for your veterinary clinic, it is time to start creating your financial forecast.
What goes into your veterinary clinic's financial forecast?
The objective of the financial forecast of your veterinary clinic's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.
The four key outputs of a financial forecast for a veterinary clinic are:
- The profit and loss (P&L) statement ,
- The projected balance sheet ,
- The cash flow forecast ,
- And the sources and uses table .
Let's look at each of these in a bit more detail.
The projected P&L statement
The projected P&L statement for a veterinary clinic shows how much revenue and profit your business is expected to make in the future.
A healthy veterinary clinic's P&L statement should show:
- Sales growing at (minimum) or above (better) inflation
- Stable (minimum) or expanding (better) profit margins
- A healthy level of net profitability
This will of course depend on the stage of your business: numbers for a startup will look different than for an established veterinary clinic.
The projected balance sheet of your veterinary clinic
The balance sheet for a veterinary clinic is a financial document that provides a snapshot of your business’s financial health at a given point in time.
It shows three main components: assets, liabilities and equity:
- Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
- Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
- Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.
Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your veterinary clinic's liquidity and solvency:
- Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
- Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.
Looking at the balance sheet can also provide insights into your veterinary clinic's investment and financing policies.
In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).
The cash flow forecast
A projected cash flow statement for a veterinary clinic is used to show how much cash the business is generating or consuming.
The cash flow forecast is usually organized by nature to show three key metrics:
- The operating cash flow: do the core business activities generate or consume cash?
- The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
- The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?
As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your veterinary clinic business plan to pay close attention to your cash flow forecast.
Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the veterinary clinic is appropriately funded.
The initial financing plan
The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your veterinary clinic as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).
Having this table helps show what costs are involved in setting up your veterinary clinic, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.
Now that you have a clear understanding of what goes into the financial forecast of your veterinary clinic business plan, let's shift our focus to the written part of the plan.
The written part of a veterinary clinic business plan
The written part of a veterinary clinic business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.
The written part of a veterinary clinic business plan is composed of 7 main sections:
- The executive summary
- The presentation of the company
- The products and services
- The market analysis
- The strategy
- The operations
- The financial plan
Let's go through the content of each section in more detail!
1. The executive summary
The executive summary, the first section of your veterinary clinic's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.
To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.
Subsequently, provide an overview of your veterinary clinic's addressable market, highlighting current trends and potential growth opportunities.
Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.
You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.
Lastly, address any funding needs in the "ask" section of your executive summary.
2. The presentation of the company
The second section in your veterinary clinic's business plan should focus on the structure and ownership, location, and management team of the company.
The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.
The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).
When describing the location of your veterinary clinic, you might emphasize its potential for success. The area could have good population density with an affluent demographic, as well as a high demand for veterinary services. You could also talk about the potential for word-of-mouth marketing as well as other forms of local advertising. The clinic could be near other amenities, such as pet stores, and could benefit from these businesses’ customer traffic. Additionally, the area could be easily accessible by car or public transportation, so that customers may have a convenient experience.
Finally, you should introduce the management team. Explain each member's role, background, and experience.
It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.
3. The products and services section
The products and services section of your veterinary clinic business plan should include a detailed description of what your company sells to its customers.
For example, your veterinary clinic could offer services such as wellness exams, vaccinations, and parasite prevention and control to ensure the health and wellness of clients' pets. It could also offer surgical procedures such as spay/neuter, dental care, and orthopedic surgery to address any health concerns. Finally, it could offer nutrition and behavior advice to help clients keep their pets as healthy and happy as possible.
The reader will want to understand what makes your veterinary clinic unique from other businesses in this competitive market.
When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through.
4. The market analysis
When outlining your market analysis in the veterinary clinic business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.
The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.
To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your veterinary clinic, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.
Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your veterinary clinic targets. Explain how your products and services are tailored to meet the unique needs of these customers.
For example, your target market might include pet owners who are looking for comprehensive veterinary care for their pet. This could include dog owners who are seeking regular checkups and vaccinations for their pet, as well as owners of cats that need regular care for common ailments. Finally, this target market may also include owners of more exotic animals such as snakes, lizards, and birds, who need specialized medical attention for their pets.
In the competition subsection, introduce your main competitors and explain what sets your veterinary clinic apart from them.
Finally, round off your market analysis by providing an overview of the main regulations that apply to your veterinary clinic.
5. The strategy section
When you write the strategy section of your veterinary clinic business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.
In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.
The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.
Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.
For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.
Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.
Your veterinary clinic faces a variety of risks. For example, it may be exposed to financial risks due to the cost of providing services, the cost of medications, and the need to purchase specialized equipment. Furthermore, your clinic could be at risk of legal complications if a client’s pet becomes ill or injured as a result of negligence or malpractice. In addition, your clinic might face reputational risks if a client has a negative experience or if a pet is harmed while under its care.
6. The operations section
The operations of your veterinary clinic must be presented in detail in your business plan.
The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).
You should then state the operating hours of your veterinary clinic - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.
The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.
You may have key assets such as medical equipment and intellectual property such as a database of patient records. The medical equipment could include items like x-ray machines, ultrasound machines, and other imaging machines. The intellectual property could be in the form of patient records and medical claims that could include patient histories, diagnoses, treatments, and other information. This information could be stored in a secure database that only the veterinary clinic has access to.
Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).
7. The presentation of the financial plan
The financial plan section is where we will include the financial forecast we discussed earlier in this guide.
Now that you have a clear idea of what goes into a veterinary clinic business plan, let's look at some of the tools you can use to create yours efficiently.
What tool should I use to write my veterinary clinic's business plan?
In this section, we will be reviewing the two main solutions for creating a veterinary clinic business plan:
- Using specialized online business plan software,
- Outsourcing the plan to the business plan writer.
Using an online business plan software for your veterinary clinic's business plan
Using online business planning software is the most efficient and modern way to write a veterinary clinic business plan.
There are several advantages to using specialized software:
- You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
- You are guided through the writing process by detailed instructions and examples for each part of the plan
- You can access a library of dozens of complete business plan samples and templates for inspiration
- You get a professional business plan, formatted and ready to be sent to your bank or investors
- You can easily track your actual financial performance against your financial forecast
- You can create scenarios to stress test your forecast's main assumptions
- You can easily update your forecast as time goes by to maintain visibility on future cash flows
- You have a friendly support team on standby to assist you when you are stuck
If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .
Hiring a business plan writer to write your veterinary clinic's business plan
Outsourcing your veterinary clinic business plan to a business plan writer can also be a viable option.
Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.
However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.
From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).
You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.
The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.
For these reasons, outsourcing the veterinary clinic business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.
Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.
Why not create your veterinary clinic's business plan using Word or Excel?
I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your veterinary clinic business plan. Let me explain why.
Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.
Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.
And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.
Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.
Now, let's talk about the written part of your veterinary clinic business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.
Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.
- A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
- Having an up-to-date business plan is the only way to keep visibility on your veterinary clinic's future cash flows.
- Using business plan software is the modern way of writing and maintaining business plans.
We hope that this practical guide gave you insights on how to write the business plan for your veterinary clinic. Do not hesitate to get in touch with our team if you still have questions.
Also on The Business Plan Shop
- In-depth business plan structure
- Key steps to write a business plan?
- Free business plan template
Know someone who owns or wants to start a veterinary clinic? Share this article with them!
Founder & CEO at The Business Plan Shop Ltd
Guillaume Le Brouster is a seasoned entrepreneur and financier.
Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.
Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.
Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.
Published on 11 Sep 2023 , last update on 24 Nov 2023 , as per our editorial standards .
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Veterinary Clinic Business Plan Template [Updated 2023]
Veterinary Clinic Business Plan Template
If you want to start a veterinary clinic or expand your current veterinary practice, you need a business plan.
The following Veterinary business plan template gives you the key elements to include in a winning Veterinary business plan. In addition to this template, a solid plan will also include market research to help you better understand the veterinary services industry, veterinary medicine trends, and how to target pet owners. It will also help you craft your mission statement, marketing plan and strong financial projections.
You can download our Ultimate Business Plan Template (including a full, customizable financial model) to your computer here.
Example Business Plan For Veterinary Clinics
Below are links to each of the key sections of a sample veterinary clinic business plan for successful veterinary clinics
I. Executive Summary – The Executive Summary provides an overview of your business opportunity and summarizes the business plan.
II. Company Overview – The company analysis includes information about your business concept, veterinary clinic services and legal structure.
III. Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the veterinary clinic industry.
IV. Customer Analysis – The customer analysis provides an overview of your target market.
You can download our business plan template (including a full, customizable financial model) to your computer here.
V. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.
VI. Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy and search engine optimization plan.
VII. Operations Plan – The Operations Plan includes information on your company’s day to day operations and processes.
VIII. Management Team – The management team section includes a profile of the business owner and business management, their experience and company responsibilities.
IX. Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.
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Veterinary Clinic Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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How To Create A Veterinary Business Plan
A well-thought-out business plan is essential for any veterinarian running or looking to run a practice.
As Steven Covey (American businessman and author) highlights in his book ‘The Seven Habits of Highly Effective People’ , it is imperative for a business owner to begin with the end in mind.
What this means is that it's important to continually work towards a big-picture target, something that keeps you on track and in check. This is where an effective veterinary practice business plan comes in.
Whilst creating a business plan might not be the top of your priorities, a good strategy linked to a set of tactics to execute is key to working smarter- not harder.
Not only can a business plan help you set and stay on track with your practice goals, but it can also help you stay on top of changing trends that may be impacting your practice.
In this article we outline how to create a veterinary practice business plan, which is not only effective- but easy to implement.
Define Your Values
Whilst you may think that the concept of ‘practice values’ might seem a little abstract or fluffy, this step will underpin everything you do (so don’t skip it!).
When we refer to ‘values’, what we’re referring to are the core principles that matter and determine how we behave towards each other.
Whether you have a written list of practice values or not, odds are you already have a set of values that you abide by.
For example, if caring for others is a value - you're probably already implementing actions that promote staff well-being without thinking about it much.
The benefit of listing these values however is that it keeps you accountable and makes it clear to those around you what the rules of the game are in your practice.
Once articulated, the values and the behaviors that flow from them form the foundation of your culture.
The problem is that it's easy to put aside doing this work to identify and articulate our values when things are busy (and if you're a veterinarian that's all the time!) so you are going to have to create space intentionally to do this. So be warned, any plan that is not supported by aligned values is likely to suffer.
Set Business Goals
Now you’ve created a base for your business plan (your core values), your next move is to get clear about what you want to accomplish.
Examples of goals are:
I would like to grow my practice revenue to achieve sales of $1M.
I would like to become the leading provider of veterinary services in my locality
I would like to build a happy team who stays together for the long haul.
At this point, it's ok to keep it somewhat vague (we’ll sharpen the focus later). What’s important is that you outline a set of say 3-5 goals for the practice (don’t overcomplicate it) that align with your core values and excite you!
Once you have a list of your values and goals, it's time to get technical.
Market research is an essential component of making an informed choice about whether it makes sense or not to enter a market. As any good veterinarian knows, evidence is key.
By taking the time to understand your market (and any gaps you can capitalize on!) you can save yourself much time, money, and heartache.
Think about it like this. If I asked you to go buy a gift for a friend, you could spend half a day perusing the shops trying to find something you think they’ll like, or, you could spend a couple of minutes looking at their Amazon wishlist and order something you know they’ll love.
The point is, market research helps you concentrate your efforts on strategies that you know are more likely to pay off and do so quickly.
Here ere are a few questions to try and answer:
What's the level of demand for my services?
Who are my competitors?
Are they any good at what they do?
What are my clients ‘pain points’ aka what are my clients' problems, and how can I solve them more effectively?
What are the trends in this market?
What are my strengths and how do these map to the market?
Are there other potential customers to make this idea viable?
Can I test my assumptions to minimize risk?
If you are a current practice owner, getting feedback from clients is a fantastic way to get market data - as is attending conferences and hearing what is happening in other practices and indeed other countries!
Encourage your clients to fill out a feedback form after service, or send out a survey in your next newsletter (try using google forms for creating surveys - it's easy to use and free). Walk around the local dog park asking questions.
Regardless of how you conduct your market research, this stage arguably is one of the most important parts of a business plan - so take all the time you need.
Not sure what strategy to use for market research? Click here.
Create Customer Profiles
Now you’ve built the foundation - it's time to put the walls up.
Once you’ve got a gauge for your market, it’s time to create some customer profiles.
Customer profiles are essentially a list of general personas which you wish to target at your practice.
It’s important to create customer profiles, as having a good understanding of who your client is (and more importantly what they want) can help direct your efforts into the right places.
Here is a fantastic resource that you can use to guide you through the process of creating a customer profile in 6-easy steps.
We cannot overemphasize this step.
For the last few years, vets around the world have been overrun with clients due to the pandemic-driven increase in pet ownership.
Traditionally vets have tried to help all clients do all things at all times. But this attitude is at the heart of the discontent and burnout we face as a profession. Better to select your clients very carefully and build a service around their needs.
Once you have done this - it's time for the next step.
You’ve created your values, listed your goals, done your homework, and penned your profiles. So what now?
Now it's time for action.
Now you have an understanding of what you want to achieve and where you want to focus your efforts, you need to outline how you're going to do this.
Go back to your goals. Using the knowledge that you have now, you need to outline how you're going to get from point A to B.
The starting point for this is to sharpen up those early goals so they are specific, measurable, attainable, relevant, and timed (SMART). Meeting this framework allows you to clearly articulate what it is you are trying to achieve and by when.
For example, if you want to increase your revenue - be specific, about how much would you like to increase it. How are you going to measure your success? Is your goal realistic? Is it important to the overall functioning of your practice?
Once you have made your goals SMART, Determine who in your team is going to be responsible for what, and make your goals clear to everyone.
It's important to note that if you are working in a team, getting others on the same page is essential.
Going back to an earlier point, - this strategy needs to be realistic - and realistically you're not going to be able to do it alone. So designate tasks accordingly, and hold everyone ( you included) accountable with progress reviews (more on this in a minute).
Use calendar tools such as Asana to set specific priorities and deadlines. This will help hold everyone to account and help get work done.
Failing to set a budget would be a large error, but it’s very common for people to skip this step. If you are planning on borrowing money, then you will have to produce some forecasts of your growth with sales and expenses included.
But even if you are not, you should create a basic budget so you have a sense of what your cash needs will be. After all, one of the most important jobs of the leader is to avoid running out of cash. Because that is the end of the line for any business.
Congratulations! You’ve created a basic business plan and are now in a position to work in a very organized way toward your goals.
Now it's time to review everything you’ve achieved. Having a specific time frame whereby the team sits down to evaluate whether the practice has reached its business goals is key to keeping up accountability.
Evaluating your performance (and reviewing aspects of the plan that fell through/didn’t go to plan) can further help you figure out what to include in your next period of work. Typically these are broken down into business quarters.
Don’t take the setbacks too hard - it's almost impossible to adhere to a business plan perfectly, and those setbacks are key to creating an even better plan for the future! There are rich lessons for you as a leader and your team to be gained.
Although creating a business plan can be a time-consuming task, it is nonetheless incredibly important for new and old business owners alike.
As you probably have now worked out, implementing a strategic vet practice business plan is an ongoing process that you should try to repeat at least annually with quarterly waypoints to reflect, reorganize, and course correct.
Although it can seem arduous, taking the time to create a good plan is likely to be an important difference between a successful practice and a chaotic and stressful one, so take the time to invest in yourself and your business and start planning now.
Want to learn more about how to run your business without the drama?
Check out our 60-minute complimentary masterclass for veterinary leaders, teaching you how to be the best practice owner you can be here.
- Leadership And Performance