Opening your own veterinary practice is similar in many ways to opening any other type of business. There are many decisions that must be made, including choosing the right location and securing veterinary practice financing to location to opening day. A few simple tips can help make the process easier.
Look for Grants
Depending on where you operate and what types of services you offer, certain professional and animal rights groups may offer grants. It takes a fair amount of research and time to track these down, but in the long run it could be worth it.
Find a Unique Twist
Certain routine services that most pets need on a regular basis could be offered for a flat rate monthly or annually. If that isn’t an option, maybe a discount on boarding or dog sitting for regular patients would work. Any type of angle you can find to make yourself stand out from other veterinary service providers is a plus. A bonus with offering a standard set of services for a flat monthly rate is that it creates a steady, predictable monthly cash flow.
Explore Government Financing Options
While the federal government does not directly lend money to small businesses, they do still offer financing programs in the form of loan guarantees. These are offered through lenders that participate in the programs offered by the Small Business Administration or the USDA. If you are a female business owner, veteran, minority, or if your business operates in a rural area, you may be eligible for loans under these programs.
Growing any business can be a harrowing experience. However, there are steps that can be taken to make the process easier. When it comes to veterinary practice financing, there is no need to run around like crazy. Make Biz2Credit your first and last stop on the road to financing your dream. Visit Biz2Credit.com or call (800) 200-5678 today to get started.