Independent veterinary practices have unique strengths that corporate practices cannot match. Yet it is clear that corporate competition remains a challenge. What opportunities can the independent veterinary medicine segment as a whole embrace to continue competing successfully into the future?
Members of the VMG team recently published a SWOT analysis (Strengths-Weaknesses-Opportunities-Threats) of independent veterinary practices vs. corporate-owned practices.1 In this post we explore four opportunities available to independent veterinary medicine: educating the next generation of independent practice owners, supporting new ownership models for practices, prioritizing continuing business education, and leveraging new partners in the veterinary ecosystem. Individual practices will benefit when they work together to make the most of these opportunities.
Welcoming the next generation of independent veterinary practice owners
The future of independent practice depends on renewal, through preparing, mentoring, and empowering the next generation of owners to carry the torch forward. Veterinary educators and experienced veterinary practice owners both have a role in helping future practice owners find their feet. Elective courses teaching the basic business and leadership skills essential for all practice owners should be available in veterinary school; every student considering practice ownership should be encouraged to participate. Mentoring of students and recent graduate veterinarians by experienced practice owners is also essential. Mentoring relationships give these new learners a safe and supportive space to ask questions and learn new skills from someone who has ‘been there, done that’ in the world of veterinary practice ownership. Every veterinarian who is considering practice ownership deserves the chance to learn what is required, and the support they need as they work towards their own success.
Who gets to be the boss?
Traditional means of buying or starting a practice are expensive. Veterinarians, like most small business owners, are generally limited to the traditional lending market with its attendant high costs and strict regulations.2 The veterinary profession needs more options that allow practices to stay independent without saddling them with unbearable debt. Some models are now offering innovative ownership pathways, such as Employee Stock Ownership Programs (ESOP), that give associate veterinarians the opportunity to build equity and share in the success of their hospital.3 Any independent practice can offer employees equity shares; some corporate groups do this. Other models that allow credentialed veterinary technicians (CVTs) or certified veterinary practice managers (CVMPs) to become owners should also be considered, even if it requires amending practice ownership laws. While we at VMG support state laws requiring a licensed veterinarian to be at least one of the people holding equity in any veterinary practice, we also believe that expanding the options for practice ownership and access to capital are essential for the future of independent veterinary practice.
Lifelong learning for business and medicine
Developing clinical expertise doesn’t stop at graduation; that’s why veterinarians and CVTs must meet continuing education requirements to maintain their licenses. Developing business knowledge never stops either; tax laws change, the economic cycle shifts, and new business tools, from PIMS to Vendor Managed Inventory become available or evolve. Leaders need to broaden and deepen their leadership skills to address society’s new expectations. Independent practice owners must make time for continuous learning in these non-technical skills, just as CVPMs do.4 While we do not support requiring business or leadership continuing education for veterinarians, VMG strongly encourages every independent practice owner, and any veterinarian who wants to be a practice owner, to continue learning about business and leadership throughout their career. We offer VMG members Professional Development Courses to develop their own and their team members’ skills in topics ranging from leadership to customer relations. The VMG Financial Bootcamp gives practice owners, practice managers, and other relevant staff members in-depth financial training specific to veterinary practice. Knowledge is power, and with more knowledge of business and leadership, independent practice owners can make decisions that will support their practice’s health, productivity, and competitiveness.
Amplification: leveraging opportunities in the veterinary support ecosystem
Independence doesn’t mean isolation; veterinary practices thrive through connections. They are embedded in a web of partner businesses: Suppliers provide the products and tools used to treat patients. Service providers help keep the doors open and give clients access to more advanced care for their animals. A glance at your accounts payables list will show you how many other businesses connect to your own independent practice. The veterinary industry ecosystem has exploded in recent years, with hundreds of new supplier and service provider entrants. While AI services for transcription, scheduling, and monitoring pet health might jump to mind, we’ve also seen new options for finding relief veterinarians and consulting with specialists; new services appear each month. Independent practices that make use of these potential partnerships can become more efficient, provide greater access to care even in rural areas, and improve quality of life for employees, clients and patients. VMG’s Preferred Partner program provides its members with access to valuable exclusive deals and services that can help improve practice performance in a myriad of ways.
Grab these opportunities with all four paws!
Some of these opportunities, like education and new ownership models, require support from organized veterinary medicine. For others, one motivated veterinarian is all the practice needs. Extend your hand to a less experienced colleague via your VMG peer group. Take a leadership course or consider working with a leadership coach. Try a new business tool and monitor how it affects your practice’s performance. The opportunities are there. Independent veterinary practice owners who seize them can look forward to a thriving independent practice segment.
For a more complete discussion of the strengths, weakness, opportunities, and threats facing independent veterinary practices as they compete with corporate practices, see the article ‘Making the Case for a Resurgent US Independent Veterinary Practice Segment: A SWOT Analysis’ published May 2025 in Frontiers in Veterinary Medicine.1
References
- Salois, M., McKay, C., Platt, M., & Traub-Werner, M. (2025). Making the Case for a Resurgent US Independent Veterinary Practice Segment: A SWOT Analysis. Frontiers in Veterinary Science, 12, 1558745.
- Hamarat Ç, Broby D. Regulatory constraint and small business lending: do innovative peer-to-peer lenders have an advantage? Financial Innovation. 2022 Aug 15;8(1):73.
- Suveto: Veterinarians. Accessed 13 April 2024. https://suveto.com/veterinary-ownership/.
- Veterinary Hospital Mangers Association website. Accessed 30 July 2025. https://www.vhma.org/home
