Veterinarians and the economy-a paradigm shift? (Proceedings)

Like many small businesses, veterinary practices across the country are seeing a lot of the same issues:

     • Less clients coming through the door

     • Less spending by the clients that do come through the door

     • Rising prices on the expense side

     • Squeezing of profit margins

This had lead to the economic downturn that most of us are experiencing today.The questions is: has there been a permanent or quasi-permanent shift in how consumers choose to spend their money?

     • Less willing to spend on big ticket items

     • Impact of loss in value of investments and real estate

     • Discuss Gelsons versus Costco

Looking at our industry, has there been a shift in how pet owners spend money?

     • Urgent versus preventative

     • Willingness to go extra yard?

     • Price shopping

     • Loyalty issues?

Has the "golden era" for emergency and specialty practices ended?

     • Some specialties more susceptible to downturn?

     • Where is the sweet spot

     • Mega practices versus Mobile practices (and those in-between)

Has there been a paradigm shift in practice values?

     • Economic impact

     • Perceived increase of ownership risk

     • Financing issues

     • Future growth not a given anymore

Has there been a sea change in ownership issues:

     • Start Ups

     • Mobile

     • Relief

     • Choosing to not own

     • Buy Ins

     • Mergers

     • Selling to corporate

Discuss how things need to change to reverse recent trends