featuring Stith Keiser | Blue Heron Consulting

For many veterinary professionals, practice ownership represents the ultimate goal: more control, more impact, and the potential for greater financial return. But with those rewards come new responsibilities, financial risks, and personal sacrifices.

This post explores the key factors to consider if you’re wondering whether practice ownership is right for you—and how to start preparing if the answer is yes.

The Realities of Ownership

Owning a veterinary hospital isn’t just about calling the shots—it’s about being accountable for every aspect of the business. That includes:

  • The quality of medical care delivered

  • The patient and client experience

  • Facility management and upkeep

  • Financial performance and strategic planning

  • Hiring, training, and leading your team

And the biggest truth? It doesn’t turn off at 5 p.m. Owners carry the weight of their business home with them. From staff management to financial decisions, ownership is both a professional and personal commitment.

If you’re someone who thrives on structure, craves autonomy, and wants to practice medicine your way—ownership may be the path for you. But it’s important to go in with eyes wide open.

Weighing the Financial Side

Let’s talk numbers. On average, veterinary practice owners earn ~$298,000 per year in total compensation, compared to ~$146,000 for full-time associates. That compensation comes from multiple income streams:

  • Your role as a producing veterinarian

  • Your management efforts

  • Rent from owning the real estate

  • Return on investment from practice ownership

  • Long-term equity when you sell

A sample case study included in the presentation showed how a DVM owner of a two-doctor hospital could reasonably generate $300,000/year in combined income by wearing multiple hats. That figure doesn’t include future gains from equity at the time of sale.

The financial rewards are real—but so is the risk. Owners are responsible for payroll, overhead, loan repayment, and navigating uncertain markets. Before you take the leap, ask yourself: Are you ready to invest not only money, but time and energy into growing a business?

Paths to Ownership

There’s more than one way to own a veterinary hospital. Some options include:

1. Associate Buy-In

  • Buy a portion of an existing practice over time.

  • Pros: Less upfront risk, mentorship opportunities, gradual transition.

  • Cons: Still not fully in charge; deal structure may be complex.

2. Buy an Existing Practice

  • Take over an established hospital with existing staff and clients.

  • Pros: Immediate revenue, more financing options, history of performance.

  • Cons: Larger investment, responsibility for existing systems and culture.

3. Start Your Own Practice

  • Build from the ground up.

  • Pros: Full autonomy, location choice, brand control.

  • Cons: High upfront cost, construction delays, no income at launch.

4. Mobile Practice Start-Up

  • Lower barrier to entry than brick-and-mortar.

  • Average startup costs: ~$250,000 (vs. ~$1 million for traditional).

  • Monthly expenses often under $7,000 (not including salaries).

  • Offers flexibility, lower risk, and faster path to profitability.

Each path has pros and cons—what matters most is aligning your choice with your goals, resources, and appetite for risk.

How to Start Preparing Now

If ownership is in your future, even if it’s years away, now is the time to start preparing. Here’s how:

  • Define your “why.” What motivates you—autonomy? Lifestyle? A vision for better medicine?

  • Gain financial literacy. Learn to read P&Ls, understand KPIs, and build business plans.

  • Build your leadership skills. Practice owners don’t just lead medicine—they lead people.

  • Seek mentorship. Surround yourself with experienced owners, advisors, and coaches.

  • Explore financing options. Learn about SBA loans, conventional financing, and what lenders look for.

  • Network early. Relationships can open doors, from potential sellers to funding partners.

Final Thoughts

Practice ownership isn’t for everyone—and that’s okay. But for those who feel called to it, the journey can be incredibly rewarding. You’ll make an impact on your community, your team, and the future of the profession.

And as a reminder: ownership doesn’t have to mean doing it all alone. With the right preparation, support system, and strategy, it is possible—and it can be worth it.