dvm - January 2013 - (Page 46)
PRACTICE SURVIVAL | Karyn Gavzer, MBA, CVPM
The new face of practice ownership
Women have been steadily climbing the profession’s ladder for years, and now they’re taking on a new challenge—practice ownership.
he myths and stereotypes about female veterinarians are plentiful and include lots of speculation about whether they want to own practices and what kind of owners
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they’ll be. But what do we really know about women who are buying veterinary practices? Who are they and what are their stories? How do they feel about being owners? Are they capable of driving the growth needed in veterinary medicine? First, some general trends: Te number of female owners in all areas of business is increasing. Tere are 8.3 million female-owned businesses in the United States, and the number of female business owners has grown 54 percent during the past 15 years, according to the 2012 American Express OPEN State of Women-Owned Businesses Report. Te veterinary profession is starting to see these changes as well. Recently Simmons and Associates, one of the largest veterinary practice brokerage frms in the United States,
pulled together some interesting statistics on purchasing trends in veterinary medicine. A State of the Market report by the frm showed that in 2008—the frst year of the recession—39 percent of veterinary practices were sold to women and 48 percent to men. And from 2006 to 2011, the majority of new buyers in Oregon, Washington, Idaho and Alaska were women—56 percent of practice sales. In 2010 and 2011, in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and West Virginia, 30 percent of practice sales were to women, 50 percent to men and 20 percent to corporations. Te data clearly show that women are buying practices even in these challenging times. And given that women represent more than 50 percent of the overall veterinary profession, it’s likely this trend will continue.
Applications are due February 8, 2013
46 | January 2013 |
Table of Contents for the Digital Edition of dvm - January 2013
dvm - January 2013
Where did I go wrong?
Pets and Vets
CATalyst survey examines how veterinarians really feel about animal shelters and pet rescue organizations.
What’s new? What’s now?
Employee steals more than $400,000 from clinic
Longtime veterinarian killed in plane crash in California
Canadian SPCA concerned by number of “home neutering” reports
Arrest made in Minnesota veterinary hospital arson
Washington DVM accused of abusing patients, medications
When faced with disaster, practices need a plan
University of Minnesota celebrates 750,000th urolith
Death to debt
Letter of the law
dvm - January 2013