Are you about starting a veterinary clinic? If YES, here is a complete sample veterinary clinic business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a veterinary clinic. We also took it further by analyzing and drafting a sample veterinary clinic marketing plan template backed up by actionable guerrilla marketing ideas for veterinary clinics. So let’s proceed to the business planning section.
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
Why Start a Veterinary Clinic?
Veterinary clinics exist to serve the medical needs for various animals such as dogs, cats, birds, fish, iguanas and so on. According to statistics from the American Pets association, there are more than 300 million pets in America, and these pets at one time or the other require medical services which are usually provided for them by their owners who take them to veterinary clinics.
This means that the veterinary clinic is a very lucrative business as there will always be pets to care for. To start this business however, you would need to have some sort of experience at previous veterinary clinics so that the experience of running your own business and caring for animals would not be totally overwhelming.
If you are serious about starting this business, you would need to hire the services of a reputable business consultant who is very knowledgeable in this field, so that they could run a critical analysis on your business concept using various factors to determine if this is a business that would be worth going into. Allowing a business consultant handle this aspect would free you up considerably and allow you focus on other aspects that would be needed to successfully start and run the business.
Regardless of whatever line you are from, as soon as you intend to start a business, you would require a business plan. Below is a sample veterinary business plan;
A Sample Veterinary Clinic Business Plan Template
1. Industry Overview
This industry is one that includes establishments of licensed veterinary practitioners who do not only provide medical care but also dental and surgical treatments for pets or animals. This industry also includes establishments such as laboratories that provide diagnostic testing services for the establishments of veterinary practitioners.
The veterinary services industry is one according to IBISWorld that has remained resilient from the period of 2005 – 2010, and this was largely due to the fact that pet owners started viewing the expenditures on their pets as of great importance, a view which helped to greatly boost the veterinary service industry in the united states of America.
The veterinary services industry is one that has an annual revenue of $35 billion and had a projected annual growth of 2.9% for the periods between 2011 and 2016. There are more than 48,000 veterinary clinics in the United States of America, employing more than 345,000 people. The market is not really dominated by any major company, as veterinary clinics mainly focused on their regions.
It has been projected that in the coming years, more pet owners will be able to afford costly procedures such as surgery for their pets especially as more pet owners were purchasing pet health insurance. Also, veterinary clinics are likely to receive a boost as pets are starting to live longer which means more trips to the clinics.
According to research from Freedonia, in 2014, the rate at which consumers spent on their pets in the United States reached $33 million, this increase has led to veterinary clinics looking to hire more veterinary technicians to be able to handle the demands.
The growing need by pet owners to treat their pets as companions or family members has seen the industry fare well through the economic recession as compared to other industries.
The veterinary services industry life cycle has been described as being in its growth phase. The Industry Value Added (IVA) which is used as a measure to indicate industry’s contribution to the economy has been pegged to grow at 2.9% between the period of 2011 and 2022. The U.S economy in comparison is expected to grow at 2.2% in the same period.
The advent of new technologies has seen many of the professionals in the human healthcare sector to migrate to veterinary medicine, as the industry continues to grow due to other factors such as pet ownership, availability of advanced diagnostic and surgical procedures as well as the increasing awareness of animal health issues.
2. Executive Summary
Little Haven Veterinary Clinic is a standard veterinary clinic located in Syracuse – New York, USA. We intend to offer standard medical services such as medical examination, diagnosis, treatment and surgery to pets such as cats, dogs, birds, iguanas and other such pets and animals. We intend to offer consultancy and advisory services to our clients as regards their pets.
Our vision is to be recognized for the standard medical practices which we offer and be the go-to clinic for all pet owners residing here in Syracuse, and also around the whole of New York as well.
We are also in business to not only care for pets and generate revenue whilst doing so but to also compete favorably against our competitors. To attain this, we have drafted publicity strategies aimed at ensuring that we have an edge over our competitors.
In order to ensure that we attain our vision as a veterinary clinic we intend to create an enabling environment and also source for and hire competent employees that understand the industry, love pets and are attuned to the company’s vision. Our employees are the best in the field and are fully committed professionals. Hiring the best employees for us is necessary as we intend to ensure that we get our business structure right so as to have a solid foundation.
Asides from ensuring that our employees work in an enabling or conducive environment, we will also ensure that they are well paid, and also continually train them and carry out periodic performance appraisals that will enhance their skills and increase their productivity for Little Haven Veterinary Clinic.
Our location in Syracuse – New York is very strategic as there are a high number of pet owners living in and around our location. Also our location is very easy to access for our customers both potential and new, as it is located close to a major road.
Most of our employees are well trained in animal behaviour and know how to restrain difficult pets with no harm to themselves, property or the pets themselves.
Finally, our owners Elena Johansen, DVM and John Edwards, DVM are two experienced veterinary doctors who have worked in several veterinary hospitals here in New York and have therefore garnered administrative and practical experiences in surgery, dental care, reproductive issues as well as skin disorders amongst others, necessary to run their own practice. Elena has been practicing for over 15 years, while John has been practicing for over 10 years.
3. Our Products and Services
At Little Haven Veterinary Clinic, we intend to offer a full range of medical services to our customers – the pet owners and their pets. Our location in New York, where there are a high number of pet owners, will see us having no problem in generating the required revenue from the different services we intend to offer.
Our aim at not only concentrating on our core services but offering additional services is so as to be able to attract more of the target market into coming to our veterinary clinic. Asides the fact that we would be attracting a whole lot of customers, we also would be boosting our revenue base, and ensure that we have a robust bottom line.
We however would offer services that are fully in line with the laws in the medical industry for pets as well as legal laws of the United States of America. Some of the services that we intend to offer at Little Haven Veterinary Clinic are;
- General Examination
- Internal medicine and surgery
- Reproductive Services
- Skin Disorders
- Dental Care
- Geriatric Care
- Consultancy Service and Trainings
4. Our Mission and Vision Statement
- Our vision is to ensure that we are recognized by our offering of a full range of medical services to pets in this area, and providing the highest standards in veterinary medicine.
- In order to fulfill our vision, we intend to ensure that we hire professional and caring staff that would provide personalized services to our customers – the pet owners and the pets themselves.
Our Business Structure
Because we intend to run a veterinary clinic that would ensure that we provide standardized services at all times, we therefore know how important it is for us to ensure that we get our business structure right from the beginning, as this would ensure that we have a solid foundation with which to run our business.
Right from our owners to our management staff and other staff, we intend to ensure that we are all attuned to the vision of the company and that we are willing to work hard in ensuring that we attain the goals and objectives of the business. This is why we would also ensure that we source and recruit only those that are right for our business, and are committed to keeping our corporate culture.
On our part, we intend to ensure that we pay our staff well and that they have a welfare package that is comparable to other similar start-up businesses in the industry. We would also ensure that our employees work in an enabling and conducive environment and that they are continuously undergo training to enhance their professional skills, thereby resulting to higher productivity for the company.
The business structure which we intend building at Little Haven Veterinary Clinic is;
- Managing Director
- Veterinary Doctor
- Admin and Human Resources Manager
- Purchasing Manager
- Marketing Team
- Customer Executive Officer
- Security Guard
5. Job Roles and Responsibilities
- In charge of making strategic decisions on behalf of the clinic
- Drafts the budget to be used by the clinic with the aid of the accountant
- Ensures that all policies are effectively adhered to by all the employees
- Checks and examine all pets that are brought into the clinic
- Writes out diagnosis and administers necessary drugs to ailing pets
- Carries out surgery and other specialized care on pets
Admin and Human Resources Manager
- Sources for and recruits competent employees on behalf of the clinic
- Ensures that employees are adequately trained and paid
- Carries out other administrative functions that ensures that the clinic runs smoothly
- Procures all the necessary equipment for the veterinary clinic
- Sources for reliable vendors and distributors of pet medical equipment
- Drafts and reviews purchasing contract for vendors and distributors
- Balances all the books pertaining to the organization and ensures that they reconcile with that of the bank
- Prepares tax documents on behalf of the clinic and submits to tax authorities
- Drafts clinic’s budgets together with the owners of the company
- Conducts a thorough market research to find out new possible target markets for the clinic
- Carries out direct marketing on behalf of the clinic
- Drafts, reviews and modifies marketing strategies on behalf of the clinic
Customer Executive Officer
- In charge of answering inquiries from customers as well as resolving issues promptly
- Keeps an accurate customer database on behalf of the clinic
- Carries out any other duties as might be assigned by the admin manager
- Ensures that the premises is always secured during and after work hours
- Checks security gadgets and ensure that they are in working order
- Reviews security tips and ensures that the employees are duly informed of new security issues
- Drives veterinary doctors for house calls
- Ensures that the medical equipment in the vehicle are always in place
- Carries out light repairs and general maintenance on the vehicle
- Ensure the premises is kept clean before work resumes
- Uses the right cleaning solutions in cleaning surgery and lab rooms
- Stock up on cleaning supplies and carries out any other duties as assigned by the admin manager
6. SWOT Analysis
The veterinary clinic we intend to run is intended to be a standard one, and to ensure that we achieve this standard, we have hired a business consultant to help us look into our Business model and determine if we are likely to make it in this industry and what our chances at competing with others as well as generating revenue were.
The business consultant in carrying out a critical evaluation of our business concept made use of the SWOT (Strength, Weakness, Opportunities and Strength) analysis so as to be able to give us an objective report. Below is the report from the SWOT analysis that was conducted on behalf of Little Haven Veterinary Clinic;
There are several strengths that are available in this market such as the high growth rate of this industry, especially as we are still in the growth phase of the industry’s life cycle. Other strengths are the professionals we intend to recruit who are very competent and also experienced and knows what it takes to handle pets as well as ensure that the clinic reaches its desired goals and objectives.
Also our owners, Elena Johansen, DVM and John Edwards, DVM both have a collective long years of practice in this industry and will bring their experience and expertise to bear for the clinic.
The only weakness that is in this market is that we are likely in a saturated market which will make us have to aggressively compete to gain the attention of our potential customers. We however have the strategies in place to be able to assure that we stand out from other veterinary clinics.
There are several opportunities that are available to us in this market, such as a growing demand for medical services from pet owners who see such expenses as vital for their pets, a growing economy which will allow more people to be able to afford to pay for advanced medical services for their pets.
The threats we are likely to face while starting or running our veterinary clinic will stem from government regulations, which might infringe on how we run our practice here in New York. Another threat we are likely to face are technological problems that might stem from our equipment. Since we have the experience from working in veterinary clinics, we know that we can easily combat these threats whenever they surface.
7. MARKET ANALYSIS
- Market Trends
There has been a general increase in the way American care for their pets. According to a statistical survey that was carried out by the American Pet Association (APA) in 2015, more than 65% of Americans owned at least one pet, which meant there were about 300 million pets existing in the Whole United States of America.
Also according to further research, cities such as California and New York had the highest number of pet owners, which has made the two cities a thriving place to run a veterinary clinic business. The medical services provided for pets are seen as a way to keep them alive, healthy and happy.
Veterinary clinics often have strict laws guiding the practice as factors such as zoning laws and laws on the facilities used in the clinic (such as light lumens, surgery suite, ventilation systems and non-porous surfaces) that would need to be put into consideration. This is why almost no one turns their home into a veterinary clinic.
The veterinary clinic business is also not one that favors house calls as a number of things can go wrong during house calls like limited supplies in handling whatever problems might occur and a liability suit, which might come from damage by the affected pet to the owner’s property or the owners.
There are basic equipment that every veterinary clinic must own either those working from home or leasing a facility. The medical and diagnostic equipment are blood pressure monitor, digital scale, traveling centrifuge, portable digital X-ray, portable ultrasound machine and thermography camera.
Also most veterinary clinics now own their own in-house blood analyzers. Asides, from the above equipment, technology has also come to bear a lot in the veterinary practice as most clinics are able to offer high standardized and state-of-the-art service due largely to medical technology.
8. Our Target Market
When it comes to taking care of their pets, Americans have been known to go all the way, which is why owning and running a veterinary clinic is one way at not only caring for pets but also generating revenue from the care. Our location here in Syracuse – New York is strategic because we are very close to the suburbs, where almost everyone who lives there owns one sort of pets, which is our major target market will be the households.
However to be sure that we are right on our target market, we have decided to conduct a market survey that will help us truly determine who our target markets are, how to understand their needs and what they expected from us. From the results of the survey, it would seem that we are in the business to provide veterinary services to the following groups of people;
- Business People
- Corporate Executives
- Celebrities of all sorts
- Sports men and women
- Dog walkers and trainers
- Kennel Stores
Our competitive advantage
Even though our aim of starting a veterinary clinic is to ensure that we help keep pets alive, healthy and extend their lives, we are also in business to favorably compete against our competitors in the marketplace, and for this we have several competitive strategies to ensure we have and maintain an edge over our competitors.
The first thing we intend to do is ensure we provide a state-of-the-art and standardized medical facilities for our various customers – the pet owners, and this will make us the go-to veterinary clinic here in Syracuse – New York.
We will ensure that we hire only competent employees especially those with vast experience to work at our veterinary clinic, because not only will they understand the business but they will also use their expertise in ensuring that we attain our intended goals and objectives as a clinic.
We also intend to offer a wide variety of services so as not only to boost our revenue base but also attract more customers from our target market, thereby giving us an edge over other competitors.
Lastly, as we intend to hire competent and experienced employees, we will ensure that they are paid well and are working in an enabling and conducive environment. We will also see to it that they are adequately trained to enhance their skills and increase productivity for the company.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Little Haven Veterinary Clinic has been established with the aim of generating revenue and also maximizing profit in the pets/medical industry in the United States of America. In generating maximum revenue for our business, we intend to offer different services that will shore up our revenue base.
Therefore below are the following areas where we intend to generate revenue from at Little Haven Veterinary Clinic;
- Internal medicine and surgery
- Reproductive Services
- General Examination
- Skin Disorders
- Dental Care
- Geriatric Care
- Consultancy Service and Trainings
10. Sales Forecast
The fact that there are more than enough pet owners in the United States of America, with more than half of the owners caring for their pets means there will always be a surge in demand for medical services from pet owners for their pets.
Our strategic location in New York has us quite optimistic in not only meeting our revenue target but exceeding it in the second year of business; this is especially as New York has been recognized as one of the two top cities where pet owners are densely located.
However in order to ensure that our sales projections were realistic enough, we conducted a critical examination of this industry in order to analyze our chances of success, which led us into the verifiable data presented below. It should be noted that the data for our sales projections were gathered particularly based on similar start-ups in Syracuse – New York.
Below is the projected sales revenue for Little Haven Veterinary Clinic based in Syracuse – New York;
- First Fiscal Year-: $450,000
- Second Fiscal Year-: $900,000
- Third Fiscal Year-: $1,800,000
N.B: The above sales projections were done based on verifiable and accurate data that was obtained from the pet industry. As at the time of conducting the analysis, certain assumptions such as location of the veterinary clinic, lack of any major competitor offering same service in same location, and the state of the economy were taken into consideration.
Should there be a change in the listed assumptions, there would likely be an impact on the sales projections, which could cause the figures to increase or decrease.
- Marketing Strategy and Sales Strategy
Marketing for any business is very vital as it not only generates money but also ensures that the company gains publicity while making money. To however have effective marketing strategies, we intend to conduct a market survey that will help us understand the market we are going into and how best to penetrate this market.
We used reliable data in carrying out this market survey as we wanted to ensure that we get an accurate result that will have an impact on our strategies.
Because we wanted to be able to concentrate on other parts of the business, we consulted with a reputable marketing consultant who not only has a good knowledge of the market and our industry, but also understands certain peculiarities that will allow for effective marketing strategies for Little Haven Veterinary Clinic.
Our marketing teams have also been empowered to ensure that strategies that are drafted are in line with our vision as a company. They have been also empowered to modify or review strategies that aren’t working and tweak them for the overall benefit of Little Haven Veterinary Clinic.
We are inducting technology into our marketing techniques and so will deploy our social media platforms, our websites and several other forums so as to be able to adequately market our services to our target market. Below are the marketing strategies we intend to adopt at Little Haven Veterinary Clinic;
- Place adverts in local newspapers, pets and lifestyle magazines as well as on radio and television stations
- Print and distribute fliers in target areas where there are a large number of pet owners and lovers
- Use direct word of mouth marketing
- Launch an interactive web site to interact with and inform customers of our services
- Use our social media platforms such as Facebook, Twitter and Instagram to market our services
- Ask loyal customers to refer us and offer them incentives in return
11. Publicity and Advertising Strategy
Publicity is very important for every business that intends to favorably compete with its competitors in the market place. Publicity is not only a means of generating awareness about a business or its products and services; it also helps the business through the increased promotional activities to generate more income for itself, thereby boosting its bottom line.
At Little Haven Veterinary Clinic, we intend to ensure that we draft effective strategies that will help us thoroughly promote and advertise our business.
Because we intend to fully focus on caring for pets, we would hire a reputable brand consultant here in New York that would help us draft effective publicity and advertising strategies that we would use in attaining our vision and objectives here in Syracuse – New York.
Also, these publicity and advertising strategies will be used to positively communicate our brand to our various customers. Listed below are some of the publicity and advertising strategies we intend to use at Little Haven Veterinary Clinic;
- Using social media platforms such as Facebook, Twitter and Instagram to promote our veterinary clinic
- Ensure that we paste our fliers and also distribute our handbills in various strategic locations
- Place adverts for our veterinary clinic in local newspapers and pet and lifestyle magazines, as well as on radio and television stations
- Sponsor pet related events and programs in our local community
- Place attractive billboards about pets in strategic locations all around New York City
- Attend pet events and trade fairs to network and increase awareness about Little Haven Veterinary Clinic
12. Our Pricing Strategy
Setting the right rates for our services is very important to us because not only do we want to give our customers fair rates that would make them come back to our clinic time and time again, we would also have to ensure that the rates we fix have covered our overhead and running expenses so that we do not run at a loss. Also, in fixing our prices, we would endeavor to make them fall within the ranges of what our competitors around us were offering their clients.
In order to attract more customers to our veterinary clinic here in Syracuse – New York, we intend to lower our rates in the first 3 – 6 months of business. This will be seen as part of our promotion strategy aimed to also increase awareness about our veterinary clinic even to potential customers. Therefore strategies are underway to ensure that our low rates for these periods will not cause our business to run at a loss.
- Payment Options
Little Haven Veterinary Clinic is aware of the fact that our different customers due to their preferences will prefer different payment options to be made available to them. Therefore the payment options that will be made available to all our different customers are;
- Payment via cash
- Payment via check
- Payment via Credit Card
- Payment via Point of Sale (POS) Machine
- Payment via bank draft
- Payment via online payment portal
The above payment platforms were carefully chosen for us by our banker who has assured us that these platforms will not only be convenient for our customers but will run without hitches.
13. Startup Expenditure (Budget)
The capital used in starting a veterinary clinic depends on what scale the owner intends to start off with, this means that capital might be high for some and low for others. Regards on what scale you intend to start a veterinary clinic, getting standard equipment, leasing a place and paying employee salaries are what generally takes a bulk of the capital.
Other factors like the location and how many staff you intend to get might vary depending on your budget. Therefore, the key areas where we intend to spend the bulk of our capital on are;
- Total fee for registering the business in the United States of America – $750
- Licenses, permits, accounting services as well as other legal expenses – $4,250
- Cost of hiring a business consultant – $2,000
- Insurance coverage (general liability, property insurance and workers’ compensation) – $2,000
- Cost of acquiring medical and surgical equipment – $150,000
- Cost of procuring lab equipment – $40,000
- Cost of leasing and renovating a facility for at least 1 year – $50,000
- Cost of setting up a waiting/examination room for pets – $30,000
- Cost of getting kennel equipment – $14,000
- Marketing promotions expenses (Promotion expenses for grand launch and general promotion and marketing expenses) – $6,000
- Operational cost for the first 3 months (salaries of employees, utility bill payments) – $150,000
- Other start-up expenses (stationeries, phones, computers, furniture) – $5,000
- Cost of purchasing a medical mobile van – $30,000
- Cost of launching a website – $1,000
- Cost of throwing a party to launch our business – $5,000
- Miscellaneous – $10,000
From the above breakdown, we would need an estimate of $500,000 in order to successfully start and run our veterinary clinic here in Syracuse – New York. The above stated amount will cover leasing, set-up of the veterinary clinic as well as pay employees and utility bills for a period of 3 months, when the business would have made enough revenue to sustain itself and its operations.
Generating Funding / Startup Capital for Little Haven Vet Clinic Business
Little Haven Veterinary Clinic is a business owned and run by two very experienced veterinary doctors; Elena Johansen, DVM and John Edwards, DVM. Both have worked in different veterinary hospitals before here in New York and so are gearing to run their own practice.
We do not intend to seek for an external investor, which is why we have decided to restrict the sourcing of their capital to 4 sources. The 4 areas where we intend to generate our start-up capital from are;
- From personal savings
- Soft loans from friends and family members
- Loan from SBA
- Loan from commercial bank
N.B: From the above four sources we were able to generate the following amount; $50,000 from personal savings, $50,000 soft loan from family members and friends, 0,000 loan from SBA, and $300,000 loan from the bank. All the monies are already in our account and as soon as we tie up a full loose ends we would hit the ground running.
14. Sustainability and Expansion Strategy
We have drafted effective sustainability and expansion strategies to ensure that we not only make profit and compete favorably with our competitors, but that our bottom line is healthy so as to sustain us in such a way that we can grow and expand at the pace we want.
The strategies we intend to use in sustaining and expanding our business are; ensuring that we hire competent employees, innovating and expanding our services so as to have a competitive advantage as well as ensuring we retain a huge number of our customers.
As a business that believes in having the right business structure, we know how important this is especially if we intend to sustain our business. It is therefore not out of place for us to source for only competent employees that we are sure understand our core values and are willing to work hard in ensuring that we attain our objectives as a company.
Even though we intend to offer core medical services in our veterinary clinic, we also intend to other services as well to our target market. This will not only bring in increased customers and revenue to our business but it will also ensure that we have a competitive advantage over our competitors in the same industry.
Finally, we know how important customers are to a business, for without customers our business is going to die, which is why we intend to treat our customers fairly, which extends to their pets as well. Our customer care executives have been trained to handle agitated pet owners and pets effectively and our veterinary doctors as well as other staff understand the need of treating the customers right always.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting feasibility studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of trucks: Completed