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#25 - Banking on Your Dream Practice With Joe Persichetti
Manage episode 479768164 series 3518576
We explore the world of veterinary practice financing with Joe Persichetti, Senior Vice President and Head of Healthcare Business Banking at US Bank, who shares insights on how veterinarians can secure funding and navigate the path to practice ownership. Joe brings nearly 25 years of experience helping healthcare professionals achieve their dreams of practice ownership, expansion, and growth.
• Student debt is not a barrier to practice ownership - focus on payment management rather than total debt
• Building the right team of financial advisors, CPAs, attorneys, and healthcare-focused bankers is crucial for work-life balance
• Veterinary practices remain financially strong and "recession-resistant" businesses, making them attractive to lenders
• The industry is seeing a resurgence in both startups and independent practice acquisitions
• Engage with lenders early in the process for guidance, not just after finding a practice to purchase
• When choosing a lender, ask if they specialize in healthcare, what terms they offer, and what happens after the loan closes
• Local banking relationships with dedicated representatives are more valuable than call centers for busy practitioners
• Practice ownership offers greater income potential and autonomy compared to associate positions
Reach out to US Bank's Healthcare Business Banking team to learn how they can help you achieve your practice ownership goals. Find your team early - the right financial partners can make all the difference in your success.
Host Information
Bill Butler – Contact Information
Direct – 952-208-7220
https://butlervetinsurance.com/
https://www.linkedin.com/in/billbutler-cic/
Schedule a Strategy Session with Bill – Strategy Session
Podcast Sponsored By:
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Chapters
1. #25 - Banking on Your Dream Practice With Joe Persichetti (00:00:00)
2. Introduction to Veterinary Practice Finance (00:00:01)
3. Building Your Banking Relationship (00:03:20)
4. Work-Life Balance for Practice Owners (00:09:22)
5. Startup Trends in Veterinary Practice (00:15:37)
6. Navigating the Financing Process (00:20:18)
7. Key Questions to Ask Your Lender (00:25:02)
8. Viability of Practice Ownership Today (00:28:08)
27 episodes
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