Create a Vet Bill Template for Businesses Effortlessly

Vet bill template for businesses

[Music] [Applause] hey this is adam hooksema from projection hub and in this video i'm going to help walk you through how to create a revenue or sales projections for your new veterinary clinic and what i'm using here is our veterinary clinic financial projection template and i'll link to that in the description of the video below but we're going to take kind of two approaches here so based on some research on google you're going to be able to find that one veterinarian on average should be able to generate somewhere in the neighborhood of half a million dollars maybe six hundred and six hundred and fifty thousand dollars per year in revenue so when we're working on projections so we don't wanna just assume that you're you know magically going to get straight to you know half a million dollars in revenue we want to understand the assumptions of of how you got there and so that's what this process is going to do is kind of help you lay that out this would be important if you're trying to get a bank loan the bank's probably going to want to see you know how did you get to your revenue projections and so that's what what we'll walk through here so here i'm assuming that you have no current patients so it's a brand new startup you're going to have a an advertising budget and that advertising budget is going to be used to acquire new patients in this case animals and you'll have some number of new patients from those advertisements and then you also have some organic or walk-in or word of mouth traffic as well and that will give your total number of new patients now this 4 500 number here is the maximum number of patients that our research showed uh one veterinarian can handle um so that's the maximum number of active patients um that that someone can have and so you'll see over here if we scroll over eventually this will flatten out at 4 500 because that's the maximum number that we think you can handle if you think you can handle more you could always increase this in the template to a higher number now the next thing that we did is we looked at a survey from live oak bank and they provided a breakdown of the different services that are typically provided and what percentage of total revenue total sales each service represented for a number i think 700 or so different veterinarian clinics so it's really good data and that's where our kind of initial default numbers over here come from they're not perfect and yours are certainly going to vary based on your business plan you may decide to focus on you know surgery more than than others or maybe you don't want to do surgery at all and and focus on different services so your specific breakdown here you should adjust based on what your plan is so we we got the breakdown of services over here and then what we did here is we found from a survey that the average pet owner this is just for dogs and cats in this example spends 183 dollars per year on vet services for dogging cat owners more for dogs less for cats but when you averaged it out it was around 183 dollars and so what we did is we just took that 183 dollars and divided it um or i guess multiplied it by this percentage of of sales over here for each different service to come up with the average annual spend per patient or per animal and then based on that what we're doing is we're going to take your 300 patients or your 599 patients and project how much revenue you're going to get in each of these different categories by month and that'll ultimately end up giving you your total total revenue now on the cost of goods sold here this cogs percentage that stands for cost of goods sold the live oak bank survey found that the average cost of goods sold percentage was 21.4 so we just took the dollar amount here the sales dollar amount here and multiplied by 21.4 to come up with our uh total cost of goods sold percentage and so that that's how we're coming up with our both our total revenue and cost of goods sold for vet clinic when you add this up now i'll jump over here to our at a glance page what you'll see is revenue in the first year based on those assumptions of 305 000 you wouldn't expect to probably get to full capacity right away so but by 2023 you're at 583 000 in revenue and that's getting up to that point that that level that one one veterinarian is probably able to handle about that much revenue in that range so hopefully that's helpful and if you have any questions just go ahead and reach out to us by putting a comment down below in the video or reach out directly to us at support projectionhub.com all right thanks