Free Veterinary Practice Business Plan
For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials
in this complete free business plan are completely fictitious and may not
match the text of the business plan below. This free business plan demonstration
purposes only. If you are interested in purchasing the completed editable MS Word
and Excel documents for this business plan, please click the button below! Also,
the text of the business plan is formatted with a fully automated
table of contents.
It should be noted that there is no special software required to use these
templates. All business plans come in Microsoft Word and Microsoft Excel format.
Each business plan features:
- Excecutive Summary
- Company and Financing Summary
- Products and Services Overview
- Strategic Analysis with current research!
- Marketing Plan
- Personnel Plan
- 3 Year Advanced Financial Plan
- Expanded Financial Plan with Monthly Financials
- FREE 30 Page Sample Private Placement Memorandum
- FREE PowerPoint Presentation for Banks, Investors,
or Grant Companies!
1.0 Executive Summary
The purpose of this business plan is to raise $150,000 for the development of a veterinary practice while showcasing the expected financials and operations over the next three years. Veterinary Practice, Inc. (“the Company”) is a New York based corporation that will provide general veterinary care to customers’ pets in its targeted market. The Company was founded in 2009 by Dr. John Doe.
1.1 Products and Services
Dr. Doe will render veterinary services to his customers’ pets. These services include the examination/treatment of medical conditions related to animal as well as dispensing pharmaceuticals. Dr. Doe, when needed, will also perform surgery on animals including neutering and spaying as well as other surgical procedures. Dr. Doe is properly licensed with the state to render these services while concurrently having the necessarily licensure to prescribe medicine when necessary. The Company will also recognize revenues from the sale of appliances/medicine used to treat veterinary medical problems. The third section of the business plan will further describe the services offered by the Veterinary Practice.
1.2 The Financing
At this time, Dr. Doe is seeking to raise $125,000 via bank loan for the development of the business. The terms, interest rate, and loan covenants are to be determined at the time of negotiation. However, this business plan assumes that the Company will receive a 10 year loan with a 9% interest rate due on the outstanding principal balance.
1.3 Mission Statement
Dr. Doe’s mission is to become the recognized leader in its targeted market for general veterinary services.
1.4 Mangement Team
The Company was founded by Dr. John Doe. The Founder has more than 10 years of experience as a practicing veterinarian. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Dr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Dr. Doe intends to implement marketing campaigns that will effectively target individuals with animals within the targeted market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Veterinary Practice, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Veterinary Practice requires $125,000 funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
At this time, Dr. Doe is not seeking an equity investment from a third party.
2.4 Management Equity
Dr. Doe will retain a 100% ownership interest in the Veterinary Practice, Inc.
2.5 Exit Strategy
If the business is very successful, Dr. Doe may seek to sell the practice to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the practice. Based on historical numbers, the business could fetch a sales premium of up to 2 to 3 times earnings.
3.0 Products and Services
Below is a description of the services offered by the Veterinary Practice.
3.1 Veterinary Services
Dr. Doe will render general and surgical veterinary services to his customer’s pets. These services include general examinations, treatment of veterinary ailments, neutering/spaying surgery, de-clawing of cats, and emergency medical care. The facility will be equipped so that Dr. Doe can perform surgery on site. The Company will generate its revenues directly from customers as there are very few insurance programs available for pets and animals. However, in the future, the Company may accept payments from animal health insurance programs if a number of customers have this service for their pets.
3.2 Sales of Veterinary Appliances and Medicine
The secondary source of revenue for the practice will be the sale of appliances related to the treatment of veterinary medical issues. The Company will carry a limited inventory of these products, which will be provided to customers during their course of their pet’s treatment. Management expects that 15% of the aggregate practice revenues will come from this revenue center.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the veterinary industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid-2009, at which point the economy will begin a prolonged recovery period. However, veterinary practices operate with great economic stability as people with animals will continue to require services despite deleterious changes in the general economy.
4.2 Industry Analysis
Within the Untied States, there are currently 26,000 businesses that provide services rendered by veterinarians. Among these practices, aggregate revenues for the last five years have exceeded $17 billion per year. The industry employs more than 250,000 people with annual payrolls of approximately $6 billion. This is a mature industry, and the future expected growth rate is expected to equal that of the general economy. However, there has been a shift in the American culture, and people are waiting longer before having children. As such, many people have purchased dogs and cats to fill the parental void while they first pursue a career. As such, the growth of the industry may actually be hire than that of the general economy during the next ten to fifteen years.
4.3 Customer Profile
In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
The Veterinary Practice intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the practice.
5.1 Marketing Objectives
• Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
• Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth.
5.2 Marketing Strategies
Dr. Doe intends on using a number of marketing strategies that will allow the Veterinary Practice to easily target men and women within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public. The Company will also use an internet based strategy. This is very important as many people seeking local services, such as veterinarians, now the Internet to conduct their preliminary searches. Dr. Doe will register the practice with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing Dr. Doe’s experience as a veterinarian and relevant contact information. The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the general veterinary care and surgical that the practice provides.
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography
about your work experience, your education, and your skill set. For each owner or
key employee, you should provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• Veterinary Practice will have an annual revenue growth rate of 16% per year.
• The Owner will acquire $150,000 of debt funds to develop the business.
• The Company shall settle most short term payables on a monthly basis.
7.2 Sensitivity Analysis
In the event of an economic downturn, the Company will not see a major decline in revenues. People treat their animals as if they are part of their families, and as such, people will continue to pay for important veterinary checkups and care regardless of the general economic climate.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis