Money Matters Archives

Your Practice’s Lab Report

Assessing the health of your business is much easier if you have (and understand) balance sheets and income and cash-flow statements.

Credit card transactions are speedy, but merchant fees can be costly, so consider shopping around.

For starters, offer employee benefits that team members value and purchase equipment they’ll use frequently.

Remember to mind the books, stand up for your team and live the values you espouse.

If you want complete control of a veterinary practice, own at least a majority share. Anything less is more affordable, but your influence wanes.

Every veterinary practice should have ready access to financing to cover shortfalls and for emergency use.

A buy-in can be a win-win for an associate veterinarian and the practice owner.

You’re free to discount services and products as an employee benefit, but the government wants its cut at some point.

Does your practice need to be open six days a week?

For both parties, due diligence is a time-consuming but fundamental step in the sale of a veterinary practice.

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