Advice on setting up a veterinary practice

If you’re like most veterinarians, you chose this profession out of a love for animals—not because you set out to run a business. Yet understanding the business side early on can make launching your own practice far more manageable. Here are five keys to help set you up for success.

1. Find a mentor
   If you’re just starting out, consider spending your first two years after graduation working for someone else. Ideally, this should be with a mentor who can help you strengthen your clinical skills while also introducing you to the fundamentals of running a practice. Learning from an experienced practitioner gives you invaluable exposure to the operational, financial, and leadership decisions involved in managing a clinic.
   
   
2. Ask lots of questions
   Many new veterinarians underestimate the business learning curve. As one Scotiabank Healthcare Professional Specialist advises: “Find someone who can be your mentor. They can not only provide you with an opportunity to improve your vet skills but also give you a chance to learn some of the essential business basics you’ll need to run a practice.” Your Healthcare & Professional Specialist can also help connect you with mentorship opportunities designed to support new practice owners.
   
   
3. Beware of hidden costs
   “Financing a veterinary practice is very different from financing a home,” explains Tom Apostolis, Regional Director, Healthcare & Professional Banking, Eastern Canada at Scotiabank. Unlike home financing, purchasing or starting a veterinary practice typically doesn’t require a down payment. Scotiabank can finance up to 100% of the cost and offers an interest‑only grace period to free up early cash flow—especially helpful during the ramp‑up phase.
   
   
4. Decide whether to buy an existing practice or start a new one 
   Buying an established practice can reduce startup costs and provide an immediate client base. However, if you want to modernize, renovate, or invest in new equipment, expect additional costs and a phased approach. Starting a new practice gives you full control over design, layout, equipment, and culture—but often requires more time before it becomes profitable.
   
   
5. Make work‑life balance a priority
   
   A study of Canadian veterinarians¹ found significant levels of stress and burnout in the profession. Many vets cite emotional strain, staffing challenges, and increased corporate competition as contributing factors. Interestingly, the CVMA sites that 62% of Canadian veterinarians today are women², and women make up 80% of veterinary students in Canada and the U.S.³. Many women practitioners are having to balance clinic leadership with family responsibilities—making intentional work‑life balance essential, since alas, these responsibilities still often rest on the women’s shoulders.
   
   Whether you’re just beginning your career or ready to take the next step as an owner, having the right guidance, financial support, and work‑life strategies in place can help you build a practice that thrives for years to come.
   
   For more information and customized advice and solutions to help you launch and grow your practice, contact us today.