Vet clinic joint venture partnerships for VNs

Re: Vet clinic joint venture partnerships for VNs

janie550 — Mon, 16 Jun 2014 08:26:38 GMT

Thanks everyone, I appreciate your comments and insights. I can imagine things could be quite awkward for a VN if the vet you go into partnership wants out, or perhaps doesn't have the same philosophy as you. Lots to think about!

Re: Vet clinic joint venture partnerships for VNs

Sal the 1st — Fri, 13 Jun 2014 19:03:10 GMT

[quote user="NickyVN"]

The main issues i have come across is difficulties getting out of the jvp further down the line and it has taken some people years to get back out!! The stories i have heard just be careful.

[/quote]

definitely. I worked at a practice where the jvp wanted out but nobody else wanted to buy in. The jvp eventually went off sick and the place ran on locum vets for nigh on 2 years - nightmare situation because you just didnt know who or what you might be working with on a day to day basis. (this is how I know so much about the good , the bad and the ugly in locum agencies).

Re: Vet clinic joint venture partnerships for VNs

Nicola Smith — Fri, 13 Jun 2014 09:49:05 GMT

The main issues i have come across is difficulties getting out of the jvp further down the line and it has taken some people years to get back out!! The stories i have heard just be careful.

Re: Vet clinic joint venture partnerships for VNs

Sal the 1st — Thu, 12 Jun 2014 23:12:12 GMT

My experience has been whatever the corporate they always have some support issues

Re: Vet clinic joint venture partnerships for VNs

elaine elder — Thu, 12 Jun 2014 21:09:42 GMT

Hi I currently work for vets 4 pets. In my experience the support office side has been a disaster since it merge with companion care! My boss has problems with them on a daily basis. The other JVPs in my area are also struggling and one of them is leaving. It's ashame as the set up of the practice is great but there is no support in support office!

Re: Vet clinic joint venture partnerships for VNs

Ems — Tue, 10 Jun 2014 15:02:55 GMT

Part of the agreement with V4P is that a vet has to be one of the partners (JVP). A friend of mine, who is also a VN, unfortunately had to find this out the hard way. The practise is managing though and she has just become JVP with one of the vets who also worked at the clinic and they are excited about the future of their surgery!

Re: Vet clinic joint venture partnerships for VNs

Gillian Mostyn — Tue, 10 Jun 2014 13:25:29 GMT

[quote user="Helen Tottey"]the V4P/Companion Care model as I understand it, is a good model. you may worry about the % management fee that is taken but having the business support and help that they provide is essential if your business is going to survive.[/quote]

Whether it is a good model or not depends on your perspective. It certainly works for the directors.... not so sure about the person doing all the work though....

You are right - owning and running a practice does demand good business support. But you can buy that yourself (accountant, HR consultant etc) for a hell of a lot less than the 50% of TURNOVER that most JVP companies will end up charging you - that is an extortionate amount and is likely to swallow up the vast majority of your profit.

[quote user="Helen Tottey"]It isn't in any ones best interest to start a JVP without a lot of meetings and with full understanding so I am sure V4P/CC would speak with you to answer your questions before you decide to either take the next step or move on having found out it isn't for you.[/quote]

The JVP model has one major flaw at the moment - they desperately need people to run the practices because all the debts are paid by them - not the company. Don't be so sure you'll get unbiased advice. Get the contract checked by an expert before signing it.

I am a vet but have started an independent practice from scratch - it wasn't easy but I wouldn't have touched a JVP with a very long barge pole. There was no way I was going to have all the hassle of running a practice but hand over my profits to a suited fat cat - but I do realise that nurses sometimes have less options. I would say be very wary as it is easier to get a divorce than get out of a JVP contract! If you want any advice feel free to message me!

Good luck!

Re: Vet clinic joint venture partnerships for VNs

Helen Tottey — Mon, 09 Jun 2014 11:44:50 GMT

Out of interest, do you already have the vet on side that you would go into partnership with?

I am fairly certain you do have to go into business with a vet but what I would say is it has to be with someone you already know. I don't think V4P do "match you up" with a vet. going into business is stressful enough so you need to do it with someone you already know and trust.

My main issues were that I didn't go into partnership with a vet and I employed a vet. no matter how good you think that person might me at the start, they do not have the same vision or desire to make the practice work as you do as the business owner. The vet could choose to move on and then all the bonding and hard work you have done, unravels as although you as the owner, will have build relationships at the end of the day, the client comes to see the vet.

I certainly don't regret what I did, but I would do things differently if I did it again.

the V4P/Companion Care model as I understand it, is a good model. you may worry about the % management fee that is taken but having the business support and help that they provide is essential if your business is going to survive. I don't fully understand the "low start up cost" as you describe it but I imagine that will all be to do with loans that V4P/CC can secure on the back of their good/proven record. I struggled to get the bank loan I needed for a veterinary business as I wasn't a vet so all this added support V4P/CC give is important.

I hope this helps a bit and if you are serious about this, I would arrange to talk to someone. It isn't in any ones best interest to start a JVP without a lot of meetings and with full understanding so I am sure V4P/CC would speak with you to answer your questions before you decide to either take the next step or move on having found out it isn't for you.

good luck

Re: Vet clinic joint venture partnerships for VNs

janie550 — Mon, 09 Jun 2014 00:20:19 GMT

Thank you

Re: Vet clinic joint venture partnerships for VNs

JaneRVN — Sun, 08 Jun 2014 14:05:29 GMT

I do know a nurse who is a JVP. I'll check with them if its ok to share contact details.

Re: Vet clinic joint venture partnerships for VNs

janie550 — Sat, 07 Jun 2014 22:11:43 GMT

Hi Helen, thanks for your reply. I believe if you are with V4P you do have to go into joint partnership with a vet, (but I could be wrong). I am intrigued as to how that would work and really why (for the relatively low start up cost) a vet would even want to go into business with a nurse.

What specifically were the issues you faced?

Thanks.

Re: Vet clinic joint venture partnerships for VNs

Helen Tottey — Fri, 06 Jun 2014 09:54:45 GMT

I set up my own practice but not with V4P but I had a similar relationship with a n other!

I would say the real question I have to ask first is your post sounds like you are looking into this as a sole VN? If this is the case, I would advise against it as you have to have the vet with you from day one. I didn't and thought I could recruit a vet and all would be well but it really isn't. There are so many unforeseen issues as well as the ones you will be aware of but they look very different from the side of the fence you will move to - business owner.

I am all for VN's doing this and I think VN's make better business owners and build really good relationships with clients but at the end of the day - you are running a veterinary practice and it needs a vet.

I don't want to sound negative but I sold my practice 5 years later and I wouldn't do things the same again.

If you want to PM me for more advice I am happy to give it or continue in this forum as I am sure I am not alone in this area