Over the years, we have helped a significant number of veterinary practices come into being and supported them through various growth phrases, with some of those practices now being substantial businesses.
With reduced opportunities for individuals to buy-in to practices, escalating valuations and restricted bank funding making buy-ins financially difficult, we are seeing a significant return to individuals looking to start-up their own practice.
We have a bespoke start-up support service, whereby we meet with the individuals to talk through their plans.
In order to fully advise, we need to understand what the individuals are looking to achieve and an outline of their plans:
- Property – location and whether leased or purchased.
- Demographics and catchment area.
- Sources of funding.
- Practice management skills and experience.
- Staffing of the practice.
- Wholesaler and buying groups.
- Clinical system.
- Personal financial circumstances.
- Marketing plans.
Once we have undertaken an initial review, we then look to agree the service that the start-up practice needs.
Increasingly, we see start-up businesses wishing to outsource the entire finance function to us, together with the payroll processing, production of management accounts and consultancy work through the initial start-up phases.
We recognise how intense the start-up period can be, particularly in a successful practice where high growth levels can bring significant challenges if not managed appropriately.
We have relationships with many other related businesses, so that we can ensure all aspects of a start-up practice’s needs are dealt with.
Find out more about our services:
Selling your Practice
Buying a Practice
Financial Forecasting & Business Plans
Partnership & Shareholder Agreements
Due Diligence, Forensic & Matrimonial Support
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