Australians sure love their pets. In fact, the Land Down Under has one of the highest pet ownership rates in the globe with 40% of its 8 million households having dogs and 33% owning cats. There’s an estimated 33 million pets in Australia, and this number has been the norm for years.
This makes veterinary practices lucrative businesses, especially since pet owners spend up to $6 million for their furry friends, with 37% of this allotted for pet health. If you want to ride on the coat-tails of this trend, Vet Practice Magazine points out some important considerations that vets and prospective veterinary clinic owners ought to ponder on. The experts interviewed for the article agree that buying an existing practice may be more practical and manageable than building a vet clinic or hospital from the ground-up.