Starting a veterinary clinic is a costly yet rewarding business venture. Before you purchase space or equipment, you must create a budget. This will help you gauge the overall clinic cost and prevent overspending. If you need help, read this guide on what to budget for when starting a veterinary clinic.
Location
The location of your veterinary clinic will play a significant role in creating and allocating your budget. Do you plan on renting a space or purchasing one? Depending on the choice, you must factor in building maintenance costs, bills, and many other aspects. If you haven’t made a final decision, you can compare the prices of renting or owning the building of your clinic.
Equipment
Another big clinic cost is equipment. When starting your practice, you must invest in a wide range of equipment that will service different patients. It’s best to purchase quality tools to avoid mishaps or constant machine repair. You can compare equipment prices and look at different features to determine the things you need. For example, assessing functionality is how to choose the best veterinary x-ray machine.
Insurance
Before opening your clinic, you must research insurance policies and required insurance packages for your practice. There are many options available, but you should secure a general liability policy, property protection, and animal bailee coverage. You can research additional policies that you may need.
Staff Salary
Staffing is another significant expense for veterinary clinics. Before hiring employees, you must determine specific salaries and the number of workers you need. Depending on the employee’s role, you can expect different payouts. According to the Independent Veterinary Practitioners Association, here’s a list of average salaries:
- Veterinary Receptionist – $30,000
- Veterinary Assistant – $31,400
- Veterinary Technician – $36,000
- Veterinary Hospital Manager – $51,000
Marketing
The most important thing you need to run a successful veterinary clinic is patients. The way to get them is through marketing. You must market and advertise your services to a broad audience. You can create social media pages or pay for ads in local publications; however, you must budget all marketing costs. For instance, if you decide to hire a marketing agency, you must factor in their rate to your overall budget.
Starting a veterinary clinic is an exciting and rewarding venture. However, you must factor in all potential costs. When you know what to budget for when starting a veterinary clinic, you can do just that. We wish you luck in this great business endeavor!