Many veterinarians say practice ownership is not for them because they want work-life balance, have too much student debt, or are unsure how to run a business. However, with advances in business processes, structuring, and technology, practice ownership is worthy of consideration and can bring empowerment and control.
In this episode, Jordan Kay and Bert Hockenberry from Provide financial services join the show to discuss why many people are choosing to become owners and the steps they take to do so – even as younger veterinarians.
Listen in as Bert and Jordan discuss how practice ownership can help pay off student debts quicker and may lead to long-term wealth. You’ll learn the importance of avoiding credit card debt if you’re thinking about ownership, why you might not have to be concerned about your clientele if you open up a practice, and why you may want to consider owning a practice as soon as possible.
Listen to the Full Episode:
What You’ll Learn In Today’s Episode:
- What is helpful for veterinarians from a financing perspective to be able to maximize their opportunities
- How owning a practice can make you feel empowered and in control
- A benefit to owning a veterinary practice rather than working for one
- How ownership can help solve many of the burnout problems
- Why it’s recommended you avoid generating credit card debt
- How the opportunity for veterinarians has grown
- Some tips for preparing financially to start your ownership journey
Resources In Today’s Episode:
- Bert Hockenberry: LinkedIn
- Jordan Kay: LinkedIn
- James Yost: LinkedIn | SignatureFD
- Travis York: LinkedIn
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Important Disclosure: Travis York is the owner of Three and One Vet Advisors and a partner of SignatureFD. Three and One Vet Advisors is a veterinary consulting and strategic planning firm of which SignatureFD has no involvement or ownership. James Yost is a partner and wealth adviser at SignatureFD. SignatureFD is an investment adviser registered with the U.S. Securities and Exchange Commission. Three and One Vet Advisors and SignatureFD are not affiliated. Mr. York provides all non-investment advisory services through Three and One Vet Advisors. The opinions of the guests and the contents of this podcast are intended to be educational only and should not be relied upon as investment, tax, business, or planning advice. You should consult with a professional advisor prior to taking any course of action that may impact you or your business.