Consider this question:

Do you view practice ownership as job security or as an investment? Most owners want their practice to provide them with more than job security. They want ownership to enable them to practise their profession as they wish but they also regard their practice as an investment and to build wealth for their retirement and their heirs. But that depends on a healthy level of practice profit after all the costs involved in delivering the level of service demanded by your clients and your staff.

Is your practice delivering that level of profit?

You can download this self assessment tool from Veterinary Business Briefing to find out for yourself. Remember - the annual financial statements prepared by your practice accountant are primarily used for statutory purposes, as the basis for determining tax and other obligations and to provide bankers and other third parties with annual income and expenditure, balance sheet and other information. They are not designed for management accounting purposes and are of limited value in assessing the true profitability of your business.

The MyVetPlan self assessment tool has been adapted for the UK market, in part from the No-Lo Practice Threat Advisory Worksheet and acknowledgment is given to the Valuation Issues Committee of www.vetpartners.org

It has been designed to provide practice owners and managers with a ready measure of practice profit, to offer some objective judgment about the financial performance of the business and to identify some of the components which require significant management input to enhance profit and business value.

The MyVetPlan self assessment tool comes complete with clear guidance notes. Download your copy now, enter the data and review your practice score. You will be glad that you did!

You can click here to download now