What you dont know about starting a veterinary practice can kill you
Are you committed to launching a practice? Dr. Karen Felsted has some advice that just might save you.
Are you committed to launching a practice? Dr. Karen Felsted has some advice that just might save you. Buying a veterinary practice is a huge step in your career and if you don't enter into the process the right way it could mean big trouble, according to Fetch dvm360 conference speaker Karen Felsted, CPA, MS, DVM, CVPM, CVA. She has some words of caution for those on the threshold:
Dig into these resources for buyers
When it comes to buying a practice, consider a 'proposal'.
Here's a checklist for buying a practice.
Thinking about buying a veterinary practice as an employed associate?
1. It's not like there's a shortage of veterinary practices, so you better have a clear vision of what is going to set yours apart. Will you specialize in a particular service or type of pet? Dial this in before you start.
2. Wanna hear something scary? You might not be able to take a paycheck for a couple of years, so be prepared for that.
3. A reasonable amount of debt won't prohibit you from getting a loan, but the combination of gigantic student loan debt, massive mortgage and other high payments might take you out of the running. Click the video to watch dvm360 Team Channel Director Portia Stewart's report live from Fetch in San Diego and then download the doodle to help guide the way.
