Penn Veterinary Supply, Inc. - Since 1981

At Penn Vet Supply we have a specialized “New Business Team” dedicated to assisting Veterinarians and their staff in opening new practices, renovating/expanding their current practice or in purchasing an existing practice. While exciting, this process can also be stressful and expensive. Penn Vet understands and offers personalized service to help from the designs all the way to the grand opening. Here are a few points that our team thinks are helpful when you are still toying around with the idea of expanding or building a practice:

Financing Considerations

Obviously, the first consideration is always cost and how to pay for it! It’s no secret that it’s an expensive endeavor, but there are many options to consider when financing your dreams. Many banks are investing in the independent veterinarian. That may come as a surprise, given how corporate veterinary practices continue buying across the country, but banks know that the independent veterinarian has a profitable business model and Americans are spending more and more on their pets every year. In addition, vendors run excellent specials for new and expanding practices. Most major vendors offer buy one get one free programs! This helps with the overhead to stock your practice. Some distributors also offer programs, as well. Here at Penn Vet, we offer interest-free payments spread over several months with the first month deferred, for those who qualify. This is particularly useful when you are outfitting your exam rooms with cabinets, kennels with cages, and making larger equipment purchases.

Equipment Installation and Timelines

Speaking of equipment, this can be a daunting aspect of any new or expanding practice. The problem isn’t deciding what you want…it’s making it fit! It’s very important to consider your equipment wish list while planning the design of your new hospital. Remember that the timing of equipment purchases can be pivotal. Your construction timeline isn’t set in stone, but the floors really do need to be completed before you move in the x-ray table and wall-mounted exam tables should be installed before the walls are complete, especially to ensure the proper support is in place – to name just a few examples! And installation can take time- don’t wait until the day before to assemble those cage banks! Penn Vet works diligently to assist with these choices and to remind you of the little things…like to strategically place those outlets for even the smaller equipment pieces (think your walk-on scale) or to consider year-end tax incentives in your purchasing strategy.

How to Choose What to Carry and Where to Carry It

There are a lot of options when you are formulating your protocols and as a licensed and experienced veterinarian, it’s ultimately your call what to use and recommend in your practice. The industry is constantly churning out new innovative choices for your consideration and Penn Vet is happy to hear what your philosophies are and to point you in the most logical direction. Remember to consider the demographics of your chosen location as well. Are you in a city where most dogs are small apartment sized pooches? Perhaps 1/2mL, non-adjuvanted vaccines (Nobivac Edge and Duramune Ultra lines, for instance) would be more profitable in the long run. Regardless of what you choose to carry, you can’t carry it all! So consider an online pharmacy for some products. Not only will this provide your clients with a convenient service, it can also help save you some business that would otherwise go to online retailers. Carry your go-to products and high margin items in-house to be as prepared as possible. Additionally, showcasing newer items in your practice might also be worth considering, as it’ll help create some awareness and enable clients to become familiar with them.

Marketing

If a tree falls in the forest, and no one is around, did it really make a sound? If a vet practice opens and no one knows it is coming, can it really make a profit? It’s true, small businesses oftentimes avoid marketing costs to start, but word of mouth isn’t your only option. Penn Vet has a whole marketing team of experienced individuals ready to help design grand opening invitation postcards, lobby signs, check signing mats and more to outfit your new practice and alert the community to your arrival. They can also help with social media launches and posts to generate more revenue. The best part? It’s free. Alert your community every way that you can of your arrival and consider hosting a grand opening to meet the new pets you’ll be treating. You can get creative with homemade cookies (for humans and dogs!), a pet picture booth (make sure to use a copy of those photos for your new records) and tours of the facility that you are so proud of!

Practice Management

You went to school to help animals and their owners. But now you are also a business owner…yikes! The good news is you don’t need an MBA to be successful, but you do need people on your side to help keep your business profitable. Hire a practice manager if you would prefer to be more focused on treatment. Consider taking business management CE courses to offer inside information. Penn Vet takes our role in this very seriously. We feel that we should always be alerting you to cost savings, better medicine, and opportunities for your growth. We support organizations such as IVPA (Independent Veterinary Practitioners Association) who are dedicated to helping you remain a profitable business, we provide you with marketing and business tools, and we look to partner with you to help you provide profitable and responsible medicine and offer you early pay bonuses, and exclusive promotions frequently.

In the end, your dreams will take a village to turn it into reality and we at Penn Vet are honored to be a part of it. If you're considering expanding your practice or opening a new one, we would love if you filled out the short form below to help us serve our customers better. If you're interested in learning more about our services and how we can partner together, leave your contact information on the form!