Now with over 70 practices operating across the UK, Vets4Pets continue to open brand new practices based on their Joint Venture Partnership model at a rate of at least two a month.
The last two years have presented many challenges for British industry, but the continuing pressure on the pockets of the “normal man in the street” has placed even more pressure on the retail sector and those services that exist and rely upon healthy consumer discretionary spend to exist and flourish.
The veterinary sector is by no means immune to this, and while our pet caring nation tries to resist reducing spend on their pets, they can only resist so far.
With financial uncertainty both domestically and abroad, and only with 4.3% retail growth (Source: Office for National Statistics ), the veterinary industry has experienced challenging times. Independent practices as well as large groups have reported a decline in like-for-like sales over the past year. According to the 2010 VMA Market Review sales of pharmaceuticals only increased by 5.3% during the year.
Against this backdrop one might understandably think that now is not the right time to invest in opening a brand new practice, however launched ten years ago Vets4Pets, the UK’s largest branded group of small animal practices, continues to buck all of the trends.
Now, with over 70 practices operating across the UK, they continue to open brand new practices based on their Joint Venture Partnership model at a rate of at least two a month.
Peter Watson, CEO and founder of Vets4Pets, said: “Our Joint Venture Partnership business model continues to prove itself as yet again we have just delivered well into double digit revenue and profit growth for our established practices, and our growth in pharmaceutical sales is more than four times that of the industry – a truly outstanding performance by any standard.
“We are the only group exclusively operating Joint Venture Partnerships in the UK and despite the challenges on the general high street, footfall for our established practices continues to grow and significantly outperform general industry trends.”
Having just opened its 70th new stand alone practice in Quinton Birmingham, they plan to open another 12 before the year is out.
UK managing director Paul Marshall said: “Each new practice opening benefits from a major launch campaign which helps to attract up to 600 new client registrations in the first month. Ongoing support from our expert management accountants, business operations managers, marketing team, IT support team and HR team ensures each practice receives the dedicated focus and support necessary to help them grow and flourish.
“Due to the limited availability of funding and the need to be much more commercially focussed and adept in an increasingly competitive environment it means our practice ownership model is fast becoming the preferred option for veterinary professionals who wish to invest in their own practice.”
It is therefore no surprise that on the back of their continued success with Joint Venture Partnerships for new start-up practices Vets4Pets have just announced its Franchise proposition – a franchise scheme that allows existing and established independent practice owners to tailor a package of support to meet their own specific needs and benefit from the commercial expertise provided by the same Vets4Pets teams of experienced business professionals who have helped approaching 90 Joint Venture Partners thrive in today’s challenging economic environment.
Vets4Pets aims to have over 300 practices operating by the end of 2015 so, whether you are an employed veterinary professional seeking to venture into the world of practice ownership, or you are an established independent practice owner who wants to see your practice improve its profitability and continue to grow but requires help and support to achieve this, Vets4Pets can provide a proven model of support to meet your needs.