Pets at Home/Vets for Pets

Re: Pets at Home/Vets for Pets

Hannah Wynne Richards — Thu, 12 Jun 2014 08:58:04 GMT

I hope you don't consider me a parlour pinko!

Wynne

Re: Pets at Home/Vets for Pets

J G Wray — Wed, 11 Jun 2014 14:32:11 GMT

[quote user="Bob Russell"]As I intend to win the Euromillions at some point, I have plans prepared for spending the millions it will bring me[/quote]

A certain cure for insomnia in my case. I imagine what I would do if..... I get to the third or fourth thing then I'm away. First on the list is paying off family mortgages, second is a particularly vulgar party and I never get any further. I have yet to buy a ticket, so the value of the Lottery lies in, as I say a cure for occasional insomnia.

The selling of shares is a realisation of value of investment of committing capital to a business. The investment ain't in veterinary science or veterinary care or veterinary surgeons, but in the vehicle which provides profit. There's no side to it other than something venal, which some might see as sinful and parlour pinkoes see as ghastly. it ain't personal it's just business, for the time being

JGW

Re: Pets at Home/Vets for Pets

Hannah Wynne Richards — Wed, 11 Jun 2014 09:21:05 GMT

If bigger was necessarily better, then the poor taxpayers wouldn't have had to bail out RBS and Lloyds. Their history - unbelievably rapid expansion - is very similar to that of many of the veterinary corporates. What if the directors suspect the shares won't even be worth 15m pence in a years time?

Wynne

Re: Pets at Home/Vets for Pets

Bob Russell — Tue, 10 Jun 2014 10:29:55 GMT

Not missing anything but if directors were that committed and felt they had a red hot investment they would be rather silly to sell. I tend to agree with their decision to sell!

As I intend to win the Euromillions at some point, I have plans prepared for spending the millions it will bring me!

Re: Pets at Home/Vets for Pets

Malcolm Ness — Tue, 10 Jun 2014 09:31:52 GMT

[quote user="Bob Russell"]But you would hold on to them if you believed they would be worth £16 million in a years time wouldn't you? [/quote]

I would like to point out that the chances of me ever having access to £16million, £13million or even a small percentage of those sums is vanishingly small.

But if I did, I really can't think that I would ever be looking at my £13 million stash of cash and thinking to myself, "If only I had £16 million life would be so much better".

Am I missing something or do I simply lack imagination.

Re: Pets at Home/Vets for Pets

Bob Russell — Tue, 10 Jun 2014 09:22:53 GMT

But you would hold on to them if you believed they would be worth £16 million in a years time wouldn't you?

It is a very overcrowded market, they have one brand up against another, sooner or later the 'cheap' money will run out and shareholders will realise that there are no massive profits to be had in pets (just a fair living!). I am not sure if they thought independents would be forced out of business in droves but they must realise by now just how resilient practices can be!

Re: Pets at Home/Vets for Pets

Mark Hedberg — Tue, 10 Jun 2014 08:49:22 GMT

[quote user="Malcolm Ness"]

[quote user="Neil Wheadon"]Would you be just the tinniest bit tempted to sell your shares in Croft for £15 million if it floated Malcolm?[/quote]

I could probably be persuaded for as little as £14million!!

[/quote]

As little as that, eh?

Re: Pets at Home/Vets for Pets

Malcolm Ness — Tue, 10 Jun 2014 08:23:53 GMT

[quote user="Neil Wheadon"]Would you be just the tinniest bit tempted to sell your shares in Croft for £15 million if it floated Malcolm?[/quote]

I could probably be persuaded for as little as £14million!!

Re: Pets at Home/Vets for Pets

Neil Wheadon — Mon, 09 Jun 2014 22:53:17 GMT

Would you be just the tinniest bit tempted to sell your shares in Croft for £15 million if it floated Malcolm?

Re: Pets at Home/Vets for Pets

Malcolm Ness — Mon, 09 Jun 2014 12:41:59 GMT

Apparently the directors cashed in lots of their shares (around £15 million) as soon as they could after the company floated. It looks like they don't have huge confidence in the growth prospects of the company. In fairness though, I think I read that in the Daily Mail!

Re: Pets at Home/Vets for Pets

Tim Browning — Mon, 09 Jun 2014 12:18:59 GMT

According to the business press at weekend Pets at Home share price has dropped since flotation in March which is unusual apparently and the Observer was saying there were doubts about the Veterinary side and the JVP model specifically. Must be a bit worrying of you are working with/for them.

Re: Pets at Home/Vets for Pets

Arlo Guthrie — Mon, 09 Jun 2014 11:03:30 GMT

[quote user="Evelyn Barbour-Hill"]i wouldn't even bother with a book-keeper these days. There are several excellent book-keeping software applications, not all of them Windows-only, that make the task a light one. (There's nothing like doing the books yourself to keep you in touch with your business). And the HMRC software now takes away all the burden of "doing the wages".[/quote]

I can't recommend this highly enough: www.xero.com

My book-keeper is reduced from doing everything, to just keeping an eye on what I've entered and submitting the VAT returns. A considerable saving.

Re: Pets at Home/Vets for Pets

Bob Russell — Mon, 09 Jun 2014 09:40:20 GMT

[quote user="Evelyn Barbour-Hill"]

[quote user="Bob Russell"]To run our practice, we have sensible staff, a bookkeeper once a month and a good accountant.[/quote]

i wouldn't even bother with a book-keeper these days. There are several excellent book-keeping software applications, not all of them Windows-only, that make the task a light one. (There's nothing like doing the books yourself to keep you in touch with your business). And the HMRC software now takes away all the burden of "doing the wages".

[/quote]

She does 4 hours a month including VAT and payroll. Just keeps us on the straight and narrow and gives peace of mind. We have had some pretty dreadful experiences with accountants in the past and this works well for us! She is as experienced as many accountants seem to be in day to day business, leaving the accountant doing the minimum of work!

We started with an accountant called Phil Chaplin. He did absolutely everything for a very reasonable fee but we changed when he seemed to be struggling with staff issues.

My advice would be to start with a decent 'veterinary' accountant then do more as you get more confident. No need to pay hefty percentages to a management company. Buying groups exist to get savings on drugs bills (without limiting choices). This leaves a heck of a price for premises, branding and marketing.

Re: Pets at Home/Vets for Pets

Utlendigur — Sun, 08 Jun 2014 19:37:45 GMT

[quote user="Julie Innes"]That's why I drive a Nissan Micra! I like seeing the surprise on clients' faces when they park next to me in their brand new BMW [/quote]

Ditto the reason, but my oldish, bottom of the range Skoda Fabia works even better - maybe looking a bit like a tramp when I'm walking the dogs (knackered old walking boots, scruffy trousers, torn waterproof jacket) and living a run-down terrace house helps aswell....

Re: Pets at Home/Vets for Pets

Evelyn Barbour-Hill — Sun, 08 Jun 2014 17:53:11 GMT

[quote user="Bob Russell"]To run our practice, we have sensible staff, a bookkeeper once a month and a good accountant.[/quote]

Re: Pets at Home/Vets for Pets

Bob Russell — Sun, 08 Jun 2014 16:35:14 GMT

To run our practice, we have sensible staff, a bookkeeper once a month and a good accountant. It does not take a big budget management service taking a large percentage of turnover. Of course it will limit take home pay and long term prospects to take on a 'low value' franchise!

If it was that good, vets would be queueing up for these business opportunities! Instead, these franchises need a lot of heavy promotion, including a near takeover of the electoral independence of a number of veterinary publications.

Hopefully they will not start to appear regularly on this forum!

Re: Pets at Home/Vets for Pets

rjhvet — Sat, 07 Jun 2014 22:22:05 GMT

Vets signing up to franchise agreements are not stupid academically however at best extremely naive. Many years ago we considered one of the franchises but quickly realised that as the management fees were charged at a percentage of turnover , but strongly pushing the ' you keep all the profit' it doesn't take a business genius to realise there is no profit.

I discussed the franchise system with family who have businesses ( non-vet) and they found the arrangement laughable. The only franchise I would consider are burger joints 'airside' at airports, these franchises ( if they ever come to the market) are auctioned and sell for huge money.

Another member posted on the forum previously that obviously one cannot expect to get a fully equipped practice for approx £30k, correct. This is a huge reason why vets take them because they think they can get a practice for £30k ( and with a salary from the start ........!).

I agree there is a problem with vets requiring overinflated pricesto buy in as particularly in less well equipped practices most of the valuation is 'goodwill'. Very risky. Banks are willing to lend BUT vets need to understand that nothing is easy, long term commitment, some risk etc etc.

The corporates do advertise heavily thet they do the dreadful bit of running the business....... It's not difficult. A small practice with very low staff numbers does not need a separate manager etc, book keeper good to help part time but there are npot the terrible onerous tasks that the corporates would have you imagine.

I could go on but battery going, computer and mine.

Re: Pets at Home/Vets for Pets

Jo Dyer — Sat, 07 Jun 2014 18:38:46 GMT

[quote user="J G Wray"]I've yet to meet a locum who wants to get under the skin of running a practice[/quote]

You haven't met me yet!

Re: Pets at Home/Vets for Pets

Julie Innes — Sat, 07 Jun 2014 16:41:33 GMT

[quote user="Richard Carter"]

[quote user="Julie Innes"]It's interesting with regards to premises- a lot of my clients came from another practice after they got new (lovely!) premises, as they perceived that their prices had increased "to pay for that big fancy building!" so it's not always as straightforward as it seems! Clients are strange creatures...[/quote]

Same in Lincolnshire!! When I was working in another practice and was going to buy a car I was told to 'keep it low key, nothing flash' Think there is a large measure of truth - its ok to have a 20 year old Defender - don't buy a Range Rover/BMW/Mercedes

[/quote]

That's why I drive a Nissan Micra! I like seeing the surprise on clients' faces when they park next to me in their brand new BMW

Re: Pets at Home/Vets for Pets

Richard Carter — Fri, 06 Jun 2014 09:21:41 GMT

Re: Pets at Home/Vets for Pets

Julie Innes — Thu, 05 Jun 2014 19:33:25 GMT

Going back to the corporates vs independants discussion, I really do think they are completely different and attract a different clientele. And sometimes the corporates don't triumph- I worked for a corporate years ago (for a very short time!) and they wanted to implement all their strategies here (Glasgow) that they had used to such apparent success elsewhere. It didn't surprise me, given our location and clientele (ex independant bought from retiring vet) that it didn't work, and they were forced to sell out.(Like the rat I am, I had already deserted that sinking ship by that point!)

I personally don't like "chains", of anything. Don't eat in chain restaurants if I can help it at all, shop at local shops (butcher's , fishmongers, local grocers) as much as possible. I think there must be others like me, who have misgivings about "standardised" service- I want tailor-made!I'm a local girl, and I find a lot of small businesses around here support each other, and people know me and my staff from other walks of life, so they feel they are coming to people they "know" with their precious pet.

It's interesting with regards to premises- a lot of my clients came from another practice after they got new (lovely!) premises, as they perceived that their prices had increased "to pay for that big fancy building!" so it's not always as straightforward as it seems! Clients are strange creatures....

Re: Pets at Home/Vets for Pets

Malcolm Ness — Thu, 05 Jun 2014 17:16:18 GMT

[quote user="Mark Hedberg"]Let's turn this on the head - just how do we know you're actually J G Wray? For all the proof we have, you could be Joe Smith from Newcastle, using J G Wray as a pseudonym[/quote]

I think I can help there. I went to school not far from Newcastle and in my class was one Joseph Smith (Joey). Is it possible that Joey and JGW are one and the same person. Joey was never the sharpest tool in the box (CSEs numbered on the fingers of one hand) but apparently very good looking - or at least extremely popular with the ladies (he was reputed to be on first name terms with the nurse at the "clap clinic" before many of us had even passed puberty). He left school at sixteen, left Young Offenders at eighteen and was last heard go going to big boys jail before he was twenty. While it is possible that he managed to turn his life around and is now masquerading as a vet called Jonathan in the Home Counties, I think it unlikely. But if he has then good luck to him - he has certainly found his forte and clearly he is better at vetting than ever he was at school work or house-breaking.

Re: Pets at Home/Vets for Pets

Malcolm Ness — Thu, 05 Jun 2014 16:59:46 GMT

[quote user="james herriot lied"]A nap would be lovely right about now, but I'm not sure how that's relevant. Is that how you fought off the corporates - by dreaming that they weren't there? Just how much did these management consultants cost you?[/quote]

........ or benefit you?

Re: Pets at Home/Vets for Pets

james herriot lied — Thu, 05 Jun 2014 16:07:59 GMT

[quote user="J G Wray"]

Hamlet Act 3, scene 2, 222–230

[/quote]

My spirits grow dull, and fain I would beguile the tedious day with sleep?

A nap would be lovely right about now, but I'm not sure how that's relevant. Is that how you fought off the corporates - by dreaming that they weren't there? Just how much did these management consultants cost you?

Re: Pets at Home/Vets for Pets

Bob Russell — Thu, 05 Jun 2014 15:24:19 GMT

Unless an existing practice can see a degree of stability and security they may not be looking for partners!

As there are never grumbles from JVP's it must be a bed of roses and they all must be deliriously happy! As most practices are limited companies there should be a way of easing new vets in by share purchase and dividends.

I am now working for a corporate as an employee. It just happens that I own the company! Considering striking for better working conditions but it would probably stress the boss/director more!