Dave’s Vet Practice Had Heart. It Just Needed Help.
Dave was ready to sell his vet practice.
But he wasn’t getting any offers. He felt stuck.
Unfortunately, even if you’re ready to retire, your practice still needs to be profitable to attract buyers.
Buyers don’t just look at client lists or location—they scrutinize the financials.
Buyers expect at least 3 years of clean profit & loss sheets, production reports, consistent revenue, payroll breakdowns, expense allocations, and even data on technician use and appointment volume.
In Dave’s case, the reason his practice wasn’t appealing—or profitable—was:
Overstocked inventory that was just sitting on shelves, wasting money.
Prices that hadn’t been raised in 7 years, despite rising operational costs.
Unstructured staff pay leading to confusion for the staff and inflated payroll costs.
Missed revenue opportunities, including unused space in the clinic.
Dave reached out to me. Here’s what I did to help him turn things around.
Streamlined Inventory
I rolled up my sleeves and worked with Dave to reduce the inventory to just the essential 3–4 medications that the clinic actually needed.
No more wasting money on drugs that expired before they could be used.
Made Strategic Price Increases
I won’t sugarcoat it—raising prices after 7 years of stagnation was tough. But it was necessary. I started with the front-end services like exams and vaccines, then worked my way to higher-margin back-end services like surgeries.
It wasn’t about gouging anyone; it was about charging what the services are truly worth and benchmarking to other practices in the area.
And guess what? Clients understood. No one complained.
Revamped Staff Pay Structure
Unstructured pay can create a lot of tension and confusion. So, I introduced a structured pay scale, with quarterly reviews and merit-based raises. This helped Dave pay his team fairly, without giving unsustainable across-the-board raises.
It also gave staff a clear understanding of what they could earn, based on their experience and performance.
Added Additional Revenue Streams
Dave was sitting on an untapped resource: the practice space. I negotiated a rental fee with another vet using the clinic’s facilities for weekend work. That’s extra income that Dave hadn’t been getting before.
In just one year, the practice’s gross profit margin jumped from 6% to 20%—a 14% increase.
If you’re dealing with profitability issues, I can help you, too.
I’ve put together a Resource Library with tools and strategies that you can implement to improve your practice’s financial health.
Let’s start working together to build a more profitable and sustainable practice for you.
