Business | Buying or Selling a Practice

Q. I'm preparing to sign my first building lease but worry I might miss important details. What should I know before committing?

When selecting your veterinary hospital's site, a high-traffic road may not be your best option, says Larry Gates, a senior principal with Gates Hafen Cochrane Architects P.C. in Boulder, Colo. During the 1998 Veterinary Economics Hospital Design Conference in Kansas City, Mo., he showed attendees how to target a market niche and noted that while conventional wisdom suggests busy streets provide the best visibility, clients who can't easily reach your hospital will probably go elsewhere.

Blame fate for Dr. Robert C. Brown, director of Cherrydale Veterinary Clinic in Arlington, Va., bumping into architect and analyst E. John Knapp, AIA, from Oregon, Wis., at a national conference. Dr. Brown wanted to renovate his hospital to improve traffic flow.

Buying or starting a practice can be one of the most overwhelming moves of your veterinary career. But you don't have to experience it alone. These resources can help you create research that guarantees your new hospital's success.

Buying or starting a practice can be one of the most overwhelming moves of your veterinary career. But you don't have to experience it alone. These resources can help you create research that guarantees your new hospital's success.

Have you ever based an important decision on one person's opinion? Imagine not selling pet food because one client prefers buying it from a superstore. You won't benefit from retail sales--or any service--until you ask many clients. Consider a client survey before expanding or building a new facility. If you own a practice, give the survey to clients on arrival. If you're starting a practice from scratch, consider a mail or phone survey. Include these topics:

Many associates dream of a fixer-upper they can buy for nothing down and low payments, then turn it into a $1 million practice overnight. I hear an occasional success story, but most new owners experience something different.

Are you--and clients--getting bored staring at the same four walls every day? Maybe it's time to give your hospital a new look. If you're not ready to build a new facility, consider an inexpensive design innovation. You'll make your practice a fun, new place again. Choose from such simple projects as a canine agility course or kids' play area to breathe new life into your hospital.

The Americans with Disabilities Act (ADA) made discrimination based on physical disability illegal. The law was originally designed to eliminate employment discrimination, but it applies to public access as well. Any new facility, addition, or significant remodel built after Jan. 26, 1992, must conform to the ADA. The act specifies that second-floor offices, apartments, and conference rooms be accessible as well. While the following isn't an exhaustive list of ADA requirements, it does offer common compliance guidelines that can help prevent a lawsuit.