Executive Summary
According to various surveys, the majority of people in the United States have pets that are regarded as companions and family members. Their owners pay particular attention to the animals’ health, that is why high-quality medical assistance for pets is inevitably required. In recent years, the start of a private veterinary clinic became a highly-demanded business idea as it has a substantial number of advantages.
First of all, this market is not dominated by any company, and the opening of a local veterinary clinic that will focus on a particular area is highly beneficial. The majority of pet owners will not agree to go to another part of the city with their pets, especially in the case of an emergency. Moreover, the timely provision of quality health care services and the kindly treatment of consumers and their pets by staff may provide a stable customer flow and the return of investments within three months.
This business plan describes the expediency of the PawPaw VetHelp clinic’s opening. The mission of this sole proprietorship is the enhancing of the relationship between owners and their pets through the providing of high-quality medical and surgical care. The PawPaw VetHelp clinic will offer a wide range of services, such as the veterinarian’s consultations, vaccination, laboratory tests, surgery operations, and dental care, for dogs, cats, birds, rabbits, and reptiles. The clinic will focus on all population groups regardless of their age, gender, and level of income. The majority of people currently have pet animals at their homes, and they need a local veterinary clinic that affords all necessary services at reasonable prices.
That is why the most optimal variant for the clinic’s location is a facility with a parking space in a dormitory district within the range of the residents’ vision. The PawPaw’s regular staff should consist of two licensed and experienced veterinarians, two receptionists, and a cleaning specialist. For the clinic’s advertising campaign, it is highly significant to activate all sources of information, such as radio stations, television channels, and social networks. The initial capital of the clinic will be generated from personal savings, a loan from the Small Business Administration, loans from relatives and friends, and a loan from a commercial bank.
Company Profile
Legal Form of Business
The PawPaw VetHelp clinic is a sole proprietorship; the owner is Jeff Smith, a licensed primary veterinarian with a 45-year experience of work with animals.
Company Mission
The mission of PawPaw‘s professional team is enhancing the relationship between owners and their pets through the providing of high-quality medical and surgical care. The clinic’s warm hospitality, the professionals’ commitment to their work and their love for animals, modern equipment, and particular attention to staff’s education and qualification help to create a positive culture of mutual understanding.
Customers may be certain that the required pet health services will be provided at the appropriate level as the well-being of all pets is highly significant for the organization. The PawPaw‘s team is ready to provide recommendations to customers concerning their pets’ health, nutrition, and exercise. The PawPaw VetHelp clinic stays current, observes modern tendencies in the field of veterinary science, and believes that all animals should be treated with care and love.
Description of Services
The registration of patients is fully computerized and allows the clinic to make appointments effectively and in short order by a receptionist. The clinic will be open seven days a week without a break from 10 am till 9 pm, and a major consumer flow is expected in the evenings during a week and in the mornings during weekends. Emergencies will be accepted any working day without a previous appointment. Consultations and vaccination will be held in a patient examination room, and surgeries will be performed in an operating room. Every patient will have a registered passport where all its medical history and preventive measures will be recorded.
The PawPaw VetHelp clinic offers a wide range of services for pets, such as dogs, cats, birds, rabbits, and specific kinds of exotic animals and reptiles. Before starting, it is necessary to prepare the clinic’s price list where the following services will be included:
- Veterinarian’s Consultation. It includes the animal’s pre-assessment, answering customer’s questions concerning his or her pet’s health, the planning of preventive measures (vaccination, deworming, and nail trimming), animal behavior consulting, prescriptions, and nutritional consultations.
- Vaccination. Preventive vaccination is a safe, simple, and effective way of the animal’s immune development to protect it against harmful diseases, such as rabies, typhus, canine influenza, and calicivirus. The clinic will provide flea treatment for cats and dogs with topical and oral medications as well.
- Laboratory Services. The clinic provides the time-sensitive analysis of medical samples (fecal exams, parasitic infection detection, blood tests, feline leukemia, and AIDS tests) with the use of modern vet care technologies and professional equipment.
- Surgery Operations and Dental Services. The clinic offers a variety of planned and urgent surgical procedures of diverse complexity both by the previous appointment and in the case of emergency. Anesthesia, a pre-anesthetic assessment, and pain management procedures during a surgical intervention are obligatory for all patients to make them feel comfortable in the process and in the period of recovery. In addition, the clinic offers anesthetic dental cleaning, fluoride therapy, ultrasound scaling, and dental polishing to support the dental health of pets.
Industry Analysis
Description of Industry
The veterinary industry includes organizations of certificated veterinarians that occupy with the diagnostics and medical treatment of pets (dogs, cats, birds, gnawers, and reptiles) and farm animals (livestock and fowls). The industry encompasses all individuals who are engaged in veterinary practice through the ownership of organizations, equipment, and facilities to provide medical assistance to animals.
The ownerships of veterinary organizations are generally registered as sole proprietorships, partnerships, or corporations. There are several types of veterinary medical practices, such as veterinary clinics and hospitals, fertilization clinics, diagnostic imaging services, veterinary organizations, and educational institutions. In recent years, the demand for veterinary services remained substantially high due to developing technologies, innovative veterinary medicines, and increasing pet ownership. The majority of veterinary practitioners currently offer a wide range of high-quality medical services for pets, such as internal medicine, dentistry, surgery, X-ray treatment, and ophthalmology.
SWOT Analysis for the Business
Target Market Analysis
Demographics
As the PawPaw VetHelp clinic focuses on the animals’ health care, their owners will be service buyers. Almost all population groups have pets, and people need a local veterinary clinic that affords all necessary services at reasonable prices. All members of the community may be divided into three groups according to their age and socioeconomic status – adolescents and single adults, families, and senior citizens. Adolescents and single adults are regarded as an essential source of customers, however, they are frequently concerned about their pets’ health only in the cases of emergency or compulsive vaccinations.
Local families with a moderate income are highly significant for business development as families may create the stable and long-lasting veterinary service relationships with the clinic. Senior citizens are definitely the most committed population group as they attentively guard their pets’ health. Moreover, they traditionally demand friendly relations with their animals’ veterinarian and become loyal consumers in return. The consumers’ gender plays no meaningful role as both women and men currently have pet animals at their homes.
Families with children, middle-aged women, and elderly people typically appear to be cats’ owners, and they will be regarded as core consumers. The customer’s income may be estimated by his or her cat’s breed, as upper-middle-income individuals frequently have pedigree cats. The second large segment of the clinic’s clients is dogs’ owners, and their level of income may be estimated by their dogs’ breeds as well. The most numerically insignificant group of costumers contains the owners of rabbits, turtles, guinea pigs, and exotic animals.
Location
The veterinary clinic may be situated in the center of the city, on the edge of the city, and in dormitory areas. However, it is necessary to consider that the rental cost in the city’s center will be higher, and the number of customers may be less substantial in comparison with other locations. Not all people agree to go to another part of the city with their pets, especially in the case of an emergency. That is why the most optimal variant is a facility with a floor area of around 70 m2 with a parking space in a dormitory district within the range of the residents’ vision.
Needs
For the clinic’s incorporation, it is necessary to make several fundamental steps:
- Business registration in quality of a sole proprietorship;
- Search of an appropriate facility;
- Obtaining the permit for reconstruction. As the standards of the medical organizations’ facilities require considerable repair costs, it may be reasonable to redeem a facility instead of rent it;
- Sourcing, the purchase of equipment and medical supplies, and fraudulent check;
- Staff recruitment in accordance with the veterinary clinic’s requirements;
- Conducting a marketing campaign.
The PawPaw VetHelp clinic’s regular staff should consist of two veterinarians who will work in shifts. Both veterinarians should have a degree in veterinary and previous experience of work with animals. The practitioners will be responsible for the provision of services mentioned in the clinic’s price list. The owner of the clinic, being a certified and experienced veterinarian, may be responsible for the pets’ health care as well. However, on a first-priority basis, he should be in charge of organizational and operational tasks, such as staff recruitment, advertising campaign, and sourcing. In addition, the clinic requires a cleaning specialist with flexible hours and two receptionists who will meet customers, formalize documents, conduct payments, and answer telephone calls. An accountant will work remotely due to a moderate volume of work.
Growth Potential
There are several potential opportunities for business growth in the future. First of all, the pet owners’ growing demand for health care services due to the high quality of the clinic’s medical assistance will encourage business expansion. It will be possible either to extend the list of health care services (for instance, to acquire the equipment for ultrasonic monitoring or introduce in-home consultations and treatment) or open more clinics in various locations.
Marketing Strategy
Product
As a range of services for any veterinary clinic is considerably obvious, the PawPaw VetHelp clinic will afford basic medical practices that are essential for the pets’ health, such as consultations, vaccinations, surgery operations, and dental services. With the development of the clinic, the spectrum of services will subsequently increase. Moreover, all customers will be offered to evaluate the quality of performed services.
Price
Despite the fact that prices depend on a substantial number of factors, such as the costs of medical supplies, transportation, and promotion, they should be reasonable and appropriate. Prices will vary according to the medical case’s complexity and the type of animal. That is why the same surgery for a dog will cost more in comparison with operative treatment for a cat. If a dog weighs more than a cat, it needs a greater quantity of the medicine for anesthesia.
Place
The clinic’s facility should be accessible and highly comfortable for both owners and their pets. It should be light, clean, spacious, and equipped with air conditioners and a water station to relieve waiting time. Moreover, the delivery of services or products to consumers is highly significant for market success/ That is why the availability of in-home consultations and medical treatment for pets should be included in a list of the clinic’s services in the future.
Promotion
For any business, promotion is vital as it generates income and provides the organization’s publicity. For the clinic’s advertising campaign, it is highly essential to active all modern sources of information, such as the media and social networks. The marketing strategies that will be used for the promotion of the PawPaw VetHelp clinic are:
- To place an advertisement in local magazines about pets and newspapers;
- To place advertising on radio stations and television channels;
- To print and distribute leaflets in the areas with the majority of pet owners;
- To create a website, interact with consumers, and offer them consultations concerning the clinic’s services, working hours, and prices;
- To use social media platforms (Instagram, Facebook, or Twitter) to promote the PawPaw VetHelp clinic;
- To order an advertising campaign on Google;
- To provide discounts for customers in case they refer the clinic to their relatives and friends.
Sources of Finances
The approximate amount of money for a successful start of the PawPaw VetHelp clinic is $300,000. This capital includes:
- Total fee for the business registration in the United States;
- Insurance coverage, such as property insurance, general liability, and workers’ compensations;
- Licenses, the loan agreement, permits, and other legal expenses;
- Cost of medical, laboratory, and surgical equipment;
- Cost of furniture and office equipment (computers, stationeries, phones);
- Cost of medical supplies and medications;
- Cost of leasing and maintaining a facility;
- Marketing promotions expenses;
- Utility bill payments and the employees’ salaries for three months;
- Miscellaneous.
The PawPaw VetHelp clinic is a sole proprietorship owned by a highly experienced veterinarian who does not intend to search for external investors. The initial capital of the clinic will be generated from four main sources – personal savings, a loan from the Small Business Administration, loans from family members, relatives, and friends, and a loan from a commercial bank.