Buying a Veterinary Practice vs Buying Into A Practice – Which is Right for You?

For those who love the idea of practice ownership but want to reduce the potential stress and financial risk, buying into a veterinary practice is a potentially advantageous option. Although you won’t have the same degree of personal choice when it comes to designing the intricacies of the business, you will have another person with whom you can strategize and create the optimal business plan.

If you choose your partner carefully, you may be able to complement each other’s skills and therefore assign tasks based on strengths and talents. Partnerships also allow for greater flexibility to travel, have a family, and adjust your working hours according to your needs. You’ll know that your practice is in safe hands every step of the way. 

Of course, one of the most attractive features of partnership is the reduced financial burden compared to buying your own solo veterinary practice. It may be a cost-effective option, from initial capital investment to affording the equipment you need to operate a successful business. While this reduces the amount of debt you need to take on, it can also reduce your potential income as your practice profits will need to be shared. 

However, when operating as a partnership, you also run the risk of disagreements. These can be devastating to your veterinary practice as a whole and may force you to compromise on the overall vision for your business and day to day operations. Ensuring you and your potential partner are on the same page is important in a good working relationship.

Whether you buy a veterinary practice or you join an existing practice as a partner, it’s essential that you make the right choice for you, both on a financial and a personal level. What suits you best? That’s a question for you and your advisors to discuss. Both have their pros and cons which should be weighed carefully before you commit to buying or buying into a practice.