Saturday, October 26, 2013

1131. Earn more when you have your own vet practice?

I had this comment with a young vet when I asked if she would be opening her own practice.
"You earn more when you have your own practice," she said.
"This is not correct," I said. "There are over 60 practices in Singapore. Unless you have no nearby competitors in the housing board estate as in Woodlands, you will not generate income. With investments and equipment and overheads, you will lose money!"

Vet students are never taught the economics of practices in the Vet School and so they have no idea of depreciation of equipment and other costs which make suck in the expenses, leading to low net profits or even losses. More than one practice has just closed down.

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