New practice start ups - is there still financing available?

RE: New practice start ups - is there still financing available?

Anthony Dennison — Fri, 09 May 2025 14:06:50 GMT

Thanks for the replies - never looked at it that way properly and you're right. As long as they're pulling their weight with the non-clinical workload then it's beneficial to everyone

RE: New practice start ups - is there still financing available?

Dinu Catilina — Tue, 06 May 2025 23:26:42 GMT

[quote userid="11308" url="~/f/non-clinical-questions/31179/new-practice-start-ups---is-there-still-financing-available/247121#247121"] do you want to go into partnership with someone non-clinical? They won't be fee generating, but will be taking a percentage of profit that you will be making.[/quote]

It's a percentage of the profit the business will make. If it stays a one man band then no, don't do it but if you grow it in to a larger beast then why not as long as they bring to the table something you don't have. A good vets does not always translate in to a good manager.

You don't need a lot of money to start, it can be done with a lot less than what you initially think you need.

Don't go the JVP route, it is not yours and you have no decent exit strategy.

RE: New practice start ups - is there still financing available?

Judith Joyce — Sat, 03 May 2025 09:02:13 GMT

Playing Devil's Advocate from a different perspective. Definitely an issue, especially if the vets think they are omnicompetent. I know what you mean by the manager not being fee-generating but I think you mean directly fee-earning, although I don't even think that's true. A good manager will generate fees by enhance a vets fee-earning capacity, take the pressure off, and take more interest in compliance stuff so the vet can get on with the fee-earning. Someone who has a different perspective is going to be complementary, even if it does generate some robust discussions (formerly known as arguments and fur-flying rows!) The positive is that the manager has approached the vet, and the vet's respect might be increased if the manager has/gets some formal qualifications (since that what seems to float our boats).

If the manager has skin in the game they are entitled to their share of the profit, so is the vet (the manager might be having the same thought about the vet as a hired dog plumber). All parties need a clear understanding of at the outset, but it is a well tried model.

RE: New practice start ups - is there still financing available?

Anthony Dennison — Fri, 02 May 2025 13:09:50 GMT

Just playing Devil's Advocate here - do you want to go into partnership with someone non-clinical? They won't be fee generating, but will be taking a percentage of profit that you will be making.

I'm not sure if it is an issue, but I have heard of circumstances where vets have been annoyed at people who cannot earn fees being able to get something from the work of other people.

RE: New practice start ups - is there still financing available?

Malcolm Ness — Fri, 02 May 2025 06:13:03 GMT

There is indeed financing still available. The banks are considerably more reluctant these days than they have been in the past and tend to offer terms that are unattractive in terms of requiring an often unfeasibly large personal contribution.

I would encourage you to make contact with Keith Dickinson @ Shire Insurance (Google Keith Dickinson Shire). Keith has a wealth of experience financing the UK veterinary sector and has, over the last several years, developed some innovative methods aimed at helping independent veterinary start-ups of the kind you are describing. Like a great many more mature veterinary practitioners, I have dealt with Keith over several decades and I have no hesitation in directing colleagues his way.

Good luck with your venture, and should you wish to discuss/develop your plans in more detail send me a message - we have some experience in starting and running successful veterinary practices that we are happy to share without any kind of charge or obligation: just happy to help younger colleagues progress and thrive. (The other half of the 'we' is Judith Joyce, who posts here fairly frequently).