How to Build a Business Plan for Your Veterinary Practice (That You’ll Actually Use)

When it comes to veterinary practice ownership, most veterinarians are deeply passionate about medicine, but are less excited about business planning. Traditional business plans can feel overwhelming, dry, and disconnected from the day-to-day realities of running a veterinary practice.
However, a business plan doesn’t have to be complicated or gather dust on a shelf. A practical, living business plan can help guide your decisions, align your team, and ensure long-term financial success.
Here’s how to build a business plan for your veterinary practice that you are more likely to use.

  1. Start with Your Vision and Mission

Before diving into numbers and tactics, clarify why your practice exists.

  • Vision: Where do you want the practice to be in 5 or 10 years?
  • Mission: What is your core purpose today? Who are the patients you serve and how?

A clear vision and mission help drive all other planning decisions.

  1. Identify Your Primary Goals

Set 3-5 big goals for the next 12-24 months along with compensatory smaller goals. The significant goals may include the following:

  • Revenue targets
  • Number of new clients per month
  • Expanding service offerings such as dentistry, rehab, urgent care, etc.
  • Adding another veterinarian or location
  • Improving client satisfaction scores

The above are examples and should be designed with your professional and personal goals that are meaningful to you. However, for success, make each goal SMART: Specific, Measurable, Achievable, Relevant, and Time-bound.

III. Understand Your Market

Do some light market research:

  • Client demographics: Who are your typical clients?
  • Competition: What other practices are nearby? What do they offer?
  • Opportunities: Are there underserved niches such as exotics, urgent care, senior pet wellness, etc.?

This helps you position your services and marketing strategically.

  1. Define Your Services and Pricing

You will want to clearly outline:

  • Core services (wellness exams, surgery, dental, diagnostics)
  • Specialty services (rehab, acupuncture, urgent care)
  • Pricing structure and any planned changes (fee increases, bundled packages)

Align services and pricing with your financial goals.

  1. Outline Your Operations Plan

Your operations plan answers the following questions:

  • How will you deliver care?
  • What team members do you need?
  • What technology or systems (PIMS, telehealth) will you use?
  • How will you maintain efficiency and client experience?

To measure the above, define a few key operating KPIs such as average transaction value or doctor production per hour.

  1. Create a Financial Roadmap

Map out the basics:

  • Projected revenue and expenses monthly for the upcoming year and in summary for years 2-3 which will be updated for monthly expectations at the end of the preceding year.
  • If launching a new practice, identify start-up costs.
  • A breakeven analysis should be done to show when you will become profitable.
  • Forecast cash flow monthly for the upcoming operational year and in summary for the next 2-3 years.

This doesn’t need to be complex since simple spreadsheets work fine. However, the key is reviewing it regularly.

VII. Build a Marketing Plan

Answer the following for your practice:

  • How will you attract new clients?
  • How will you retain existing clients?
  • Which marketing channels will you focus on (social media, SEO, local partnerships, community events)?

Due to the expectation of exactness in your profession, remember that consistency matters more than perfection and a simple monthly plan of activities is a great start.  

VIII. Set a Review and Accountability Rhythm

A business plan only works if you revisit it:

  • Monthly: Quick financial and operational KPI review. Ideally, the practice owner and CPA/advisor should review this together to talk about the outcome and how that impacts the decisions for the upcoming week, month or quarter.
  • Quarterly: Check progress toward your goals and adjust plans if needed. Make sure to evaluate the tax impact of your current practice net profit, evaluating factors such as asset additions as well as net income.
  • Annually: Refresh goals and update the plan for the next year. The practice must prepare a budget or forecast annually, broken out monthly for the upcoming year, that will include the cash flow impact to determine if any cash flow shortages are expected or opportunities for investing excess cash back into the practice or in an interest bearing account.

Consider building in accountability by implementing monthly/quarterly meetings with a CPA business advisor as it can make a huge difference.
Remember progress over perfection when creating your plan. The business plan doesn’t have to be complex as long as it is usable for you and the practice by providing you a framework of financial and nonfinancial expectations. A few clear pages outlining your vision, goals, key actions, and financial roadmap can be incredibly powerful.
Most importantly, treat your business plan like a living, breathing tool, not as a once-and-done project. With a simple, usable plan, you’ll make smarter decisions, create a healthier business, and build the veterinary practice and the balanced life you’ve always envisioned.