You have no clients, you have no prior business plan to follow, your cash flow is in question, loans may be harder to find, you have no on-site peer, and there is more down payment required. Having two or more owners can also mean you're open more hours, you have a flexible work schedule, you can pick the staff, and in the long run you potentially have more gross and more draws. The disadvantages are a limited gross, spoiled clients that are difficult to convert to a practice environment, you have to do it all, it is difficult to plan cash flow, and it is very difficult to market yourself. Technical skills, your ability to practice good veterinary medicine, will be the easiest of the four for many of you. But you'll find that your ability to manage and market your hospital could be the most important.
Self is the most important aspect of an exit strategy.
Understanding what you want out of life, what goals you would like to achieve, is crucial in developing an exit strategy. Wanting to stay healthy, to teach your grandchildren, to maintain a happy family, all of these play an important role. With regards to land and building, it is our recommendation that you keep the land well groomed, keep the parking lot well maintained, and keep the property well maintenanced from the curb to the lot line. Don't do any expanding, don't replace anything unless broken or untrustworthy, and request a title report. With regard to a rented building, best that you keep the building again well maintenanced from curb to lot line.