View from the Board: The practice ownership journey

Practice ownership can bring joy and opportunity into the life of a practice owner. Whether you’re starting a new practice, growing an existing one or preparing an exit strategy, each stage provides the freedom to shape your own vision and build a lasting legacy on your own terms.  Practice ownership can also be overwhelming.  Here are a few tips to help ease common bumps you may experience on this journey:

For a practice owner looking to start or purchase a new practice:  

1. Location, Location, Location.

You can have the best medicine and the most compassionate team, but if clients cannot find you (or don’t want to drive there), you are starting uphill.  Choose a location that supports visibility, accessibility and long-term growth.

2. Define your niche… and own it with confidence.

Ask yourself:  Why should a client choose you? What makes your practice worth driving past other hospitals for?  Whether it’s exceptional client experience, fear-free handling, advanced medicine or a specific community focus, be crystal clear about what sets you apart.  When you know your “why,” your clients will know it too.

3. If you can, buy the dirt.  

Purchasing the land and real estate can be one of the smartest long-term investments you make.  Structure the property as a separate LLC and pay yourself fair-market rent.  You will build equity, diversify your assets, and thank yourself later.

For a practice owner operating and growing an existing practice:

1. Invest in your team… and give them a place where they can choose to thrive.  

Hire slowly. Pay well. Provide the tools, training, and clarity your team needs to succeed; then trust them to do the job you hired them for. You get to lead, coach, support, and cheerlead (yes, all four). Invest in building your team’s capacity. In the long run, you will get to do the things you enjoy doing at your practice while helping others do the same.

2. Commit to elevated standards of care.

High-quality medicine leads to better patient outcomes and a more fulfilled team. Achieving and maintaining AAHA accreditation provides a proven framework for clinical excellence, leadership accountability, and operational consistency. AAHA standards, guidelines, and tools simplify the journey and strengthen your foundation as a practice owner.

3. Protect and nurture your culture intentionally.

Create a social contract that every team member agrees to and signs. This agreement defines how individuals treat one another, your clients, vendors, and the broader veterinary community. It creates shared accountability and it’s the document you will refer to most when navigating behaviors… including your own.

4. Know your numbers – set up a reliable, yet nimble, dashboard and check it regularly.

Track key performance indicators such as gross revenue, average patient visit charge, operational costs, the number of new clients, attrition rates for clients (and team) and Net Promoter Score for client (and team, again) satisfaction.  Remember to leave room for monitoring other KPIs as needed so you can pivot on what matters. Reviewing these metrics regularly helps keep your finger on the pulse of your practice and allows you to make informed, confident decisions.

5. Work on your practice as much as you work in it.

Doing both is rocket fuel for sustainable success. Join a cohort or study group like Veterinary Management Groups. Find accountability partners and surround yourself with like-minded peers. Investing time in growing yourself, as a leader and as a veterinarian, is not optional. It’s essential. And yes, you’re worth it!

6. What gets measured gets managed.  

Obtain a formal practice valuation every two years. It’s one of the best ways to assess your business’s health, track progress, and measure success over time.

For a practice owner beginning to think about exit planning:

1. Give yourself the gift of time.

Start planning your exit five years in advance, if possible. A longer runway allows you to strengthen financial performance, optimize operations, and maximize your return without unnecessary stress.

2. Every dollar matters.

If your practice sells at a multiple of 8-10, each dollar saved or earned today can translate into 8-10 dollars at sale. Small improvements now can yield significant benefits later.

3. Build the right succession team.

Assemble experienced professionals including a lawyer, CPA and financial advisor who understands the veterinary industry.  Consider working with a broker instead of going it alone.  A good broker helps you avoid costly missteps and ensures you maximize your return on investment.

Although the stages of practice ownership can be challenging, succeeding in your dream is deeply rewarding.  The impact you create extends well beyond simply being your own boss.  You get to be the architect of your future, build meaningful relationships and give back to your community.  And the legacy you leave can inspire others to do the same.

Parva Bezrutczyk, DVM, is managing partner of Arizona Animal Wellness Center in Gilbert, Arizona, and is AAHA President for 2025-2026.

Photo credit: © American Animal Hospital Association

Disclaimer: Trends content is meant to inform, educate, and inspire by providing an array of diverse viewpoints. Any content published should not be viewed as an official stance, position, or endorsement by the American Animal Hospital Association (AAHA) or its Board of Directors.