Vet Partner Opportunities FAQs
- VitalPet is a new business, how do I know it will be successful?
Our management, board and investors have a proven track record of success in a variety of industries. In addition, our business plan is based on a combination of the best features of corporate owned veterinary practices, without the baggage.
- I am making good money, why would I sell now?
Several reasons. First, VitalPet amplifies the value of your equity… the earlier you join, the more valuable your equity becomes, because you are exchanging your equity in a single location with a valuable larger company. Over the long term, you should create much more wealth at VitalPet than you otherwise would on a standalone basis.
Second, the longer you put off your retirement plan, the less your practice is worth. Your associates could become disenchanted and leave. Should you perish, you would imperil your spouse by forcing them to “fire sale” the practice. Moreover, you should tack on three to five years of service to any retirement goal. A “five year plan” is really a “ten year plan”, because whoever buys your practice in five years will want you to participate in another three to five years of service.
Third, VitalPet provides the quality of life you want. Why put up with the grunt work of running your hospital back office? Wouldn’t you rather let us handle that while you focus on the kind of work that got you in the business in the first place?
Fourth, you are part of a bigger team. VitalPet is about partnership, ownership in a more valuable organization, and participation in the creation of a Texas staple. As a shareholder, you are part of it something that is bigger than any one member.
Finally, you are taking care of your clients, associate veterinarians, and staff in a way that exudes character and class. You are not “selling out” to a California firm… you are merging with an exciting Texas-based venture that preserves your legacy and provides awesome benefits to everyone.
- How much assistance will VitalPet provide with day-to-day management?
We will manage the marketing, back office, purchasing, and human resource functions to allow our veterinarians to be more productive. We find most veterinarians don’t enjoy managing these functions and are generally happier focusing on practicing medicine.
- I don’t see myself retiring for some time, why join up with VitalPet?
We believe VitalPet is the best next step for any quality practice. The business has gotten more complex, and we all know it makes sense for veterinarians to work together to offer full service and share resources. VitalPet’s model achieves this goal, but also a) provides the benefits of ownership without the burden of ownership, and b) creates real wealth for owners and associates, and c) enables your business to grow faster by providing valuable local support, such as marketing your business.
- What is the benefit of joining VitalPet early on?
Simply put, the first businesses we acquire have the most to gain. First vets come in at a low stock price…the later vets come in at a much higher price. Also, the first few veterinarians that partner with us get special downside protection, and they have more control over how VitalPet does business.
- If I sell my business to VitalPet, how long may I stay?
We want our partners to have successful careers with VitalPet, and provide substantial incentives to stay on five years or more.
