Acquiring a vet practice is not for the faint of heart.
It’s not just about being a fabulous vet, it’s about being a good manager and business owner. It can be overwhelming.
Start by watching this series of short videos designed to help you continue the self-assessment and acquisition process.
You’ve watched the videos and you’re ready to take the next steps in running a thriving practice.
Setting up your finances right the first time will set you up for success and prevent unnecessary work and frustration down the line.
This checklist will get you going in the right direction.
Hiring the right staff from the beginning will propel your vet practice forward. Read this blog to get a head start on hiring for success.
Doubt and fear can rule your practice when it comes to pricing. Think about how you can help your customers by fair and clear pricing practices.ere
Find cash flow leaks
Comparing your income and expenses to industry benchmarks for veterinarians helps you find those dreaded leaks (and fix ‘em!).
Take more home
When your financials show you are making plenty of money, discover why you’re not able to take more home.
Start by understanding how your finances work
Many veterinarians run a very successful, profitable practice; but working with a more traditional accounting firm that doesn’t understand vets limits the advice you receive and the real change that can make a difference in your practice. If you’re merely getting your financial statements compiled and tax returns prepared, this can lead to unanswered questions.
At Stopp and VanHoy for Vets, we’re here to focus on what really matters to you and your practice, so you can provide a better level of care to the animals and people you’re working with. Talk to us about:
- Compensation levels
- Take home pay
- Understanding financial statements
- High profitability and low cash flow
- Paying a lot of taxes (possibly too much)
- Using Profit sharing plans to keep more of your money
- Online accounting software such as QuickBooks or Xero
- …and any other struggles your veterinary practice is facing
Stopp & VanHoy are proud members of the following veterinary organizations:
Meet your CPA
Keith VanHoy, CPA, PFS