Animal Health Solutions

21 Q2 2022 | Animal Health Solutions STEP 1 – Define objectives and create the plan Is your potential for revenue capped by the size of your current facility? Strategically thinking about why you need to expand will help define your goals and execute a plan of action. • What does your current office lack that your new space will need? Will you have special equipment needs? • Do you require additional treatment, exam, or operating rooms? Will you need to allocate more space for an overnight kennel? • Are you looking to upgrade your office aesthetically by enhancing design elements and the quality of décor? STEP 2 – Analyze the terms in your current veterinary office lease After outlining your goals, it's time to analyze the details in your current clinic lease to ensure they will allow you to carry out your expansion plans without obstacles. Contact the veterinary office leasing experts at Cirrus Consulting Group to help you with this important step. A leasing expert will help you review and decipher the complex language within the lease to ensure you are fully protected when you approach your landlord with your plans. Important considerations in your current lease: • Right of First Refusal (ROFR): Is there a ROFR for expansion clause in the lease that grants your landlord permission to deny your request? • Surrender clause: If you're unable to expand into an adjacent space and decide to relocate into a larger clinic, is there "surrender" language in the lease that could force you to restore your clinic back to its original shell condition? Imagine having to remove all leasehold improvements such as plumbing, electrical, and millwork. This can easily cost a veterinarian hundreds of thousands of dollars in restoration fees. • Practice downtime: Be aware of critical dates and consider how much time you have left in your current clinic in the event of a practice relocation. It's important to ensure that you minimize any business "downtime" while your new space is being built out. Putting together a team of capable and trusted professionals is critical to a smooth and successful expansion project. Assemble a reliable team of financial advisors, office designers, builder/contractors and contact your equipment suppliers and technology specialists at Covetrus ® . Is your potential limited by the size of your current veterinary office? You may be ready to expand your clinic and grow your business. Expanding a veterinary practice is an important decision that involves countless, time-sensitive moving parts. For nearly 30 years, Cirrus Consulting Group has been helping doctors safely and thoughtfully prepare for their office expansion projects. Use our guide to prepare for your new business venture, armed with the critical knowledge to take your business operations to the next level. Putting together a team of capable and trusted professionals is critical to a smooth and successful expansion project.

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