New Practice Formation

Thinking of owning your own veterinary practice?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain your entrepreneurial passion for duration of your veterinary career.

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful practice. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new ventures.

We help you...

  1. Prepare an initial business plan to clarify your marketing, management, and financial plans.

  2. Determine your start-up capital needs.

  3. Identify sources of start-up capital and backup sources if needed.

  4. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.

  5. Work with your attorney to identify and select a business structure that best fits your needs by evaluating tax advantages, legal exposure, and ease of operation.

  6. Select the right bookkeeping software and assist with bookkeeping system set up.

  7. Prepare a Cash Flow Budget so you know the money needed to keep the business alive each month for the first few years. 

  8. Establish billing and collection procedures to maximize your cash flow.

  9. Establish procedures to monitor and control costs.

  10. Prepare and file required state and local licenses and permits.

  11. Prepare and file your application for the practice's Federal Employer Identification Number.

  12. Selection a payroll company and needed services.

  13. Comply with employment laws.

  14. Identify your business insurance needs.

  15. Determine real estate leasing options and cost considerations, and assist attorney with lease agreement issues.

  16. Work with your attorney to develop a solid partnership agreement if there will be more than one owner.

Let us help you succeed by getting your new practice off to a strong start. Please complete the form below to learn more about our Practice Startup services.

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Give your practice the advantage of working with the only CPA firm led by a DVM.

Talk with us! Our integrated consulting, accounting and tax services safeguard your practice and your family. Call Now! (440) 926-3800