What are the best states to buy a veterinary practice? The answer depends on where the market is least saturated. Finding a location that is not over saturated is critical when looking to buy a veterinary practice.
In this study, capacity refers to the ability of veterinarians to provide veterinary services. Thus, a veterinarian only rendering veterinary services for a portion of the day has excess capacity. Excess capacity means that a veterinarian is not busy enough because the market is over saturated.
According to the 2013 Veterinary Workforce Study, there was 17% excess capacity for veterinary services in private clinical practice. National estimates of excess capacity for veterinary services were highest for equine practices (23%), followed by small animal (18%), food animal (15%), and mixed practices (13%).
It is important to confirm that the market is not over saturated before settling on a location to buy. The states that have over 24% excess capacity are the least busy and the most over saturated compared to the population. Thus, they are they worst locations when looking to buy a veterinary practice. Conversely, the states that have between 6%-12% excess capacity are the most busy and the least saturated compared to the population. Thus, they are the best locations when looking to buy a veterinary practice based on saturation.