Good Medicine - Good Business: Growth in the Face of Local Competition
WSAVA/FECAVA/BSAVA World Congress 2012
Marwan Tarazi, BVSs, MSc, MRCVS
Nuvet, Hedley House, Peterbrough, UK

Launching a new practice was always going to be a difficult and stressful process, but 3 years down the line, and thanks to help along the way from Onswitch, NuVet in Peterborough is now a successful, and growing, practice. The stress levels have also subsided considerably!

For us, as I believe to be the case for any new business, the ground work was key. We undertook months of research into the local market to understand where the opportunities were:

 Which other vets are there in the locality?

 What are their strengths and weaknesses?

 What is the demographic profile of our catchment area?

 Does it match our target client?

 Are there obvious gaps in the market?

 How can we reach local pet owners?

 Is anyone else offering keyhole surgery locally?

From our research, we confirmed that our local pet owners are not particularly affluent, but they do want the best care for their pets that they can afford. Our strategy at Nuvet was very clear from the very beginning, and is reflected in our name and all our marketing materials - we are exactly that, a new kind of vet. The kind of vet that wants to understand what the problem is with a sick animal, not to guesstimate likely issues. So we put a lot of effort into diagnostics - this is not always cheap, but our clients understand that we do it to get a clear picture of what we need to do in order to give their pet the very best care. We also aim to undertake minimally invasive surgical procedures wherever possible, and by promoting our experience in keyhole surgery we have attracted and retained clients who understand that this method is simply better for their pets all round.

We work hard to ensure that we compare favourably with local practices on the healthcare basics: our vaccinations, wormers and flea treatments are all very competitively priced and our clients know that our prices are fair. If bills are high it is because they have to be, not because we're making excess money out of their sick pet. Keyhole surgery is a skilled procedure, and our clients understand that any additional cost implications are offset by the benefits to their pet's recovery - we are always open about the advantages and costs up front.

Nine months before we opened, we started talking to our local pet owners, as well as to pet care businesses and charities in the area. We ran a marketing campaign that was difficult to ignore, with radio, door drops, roundabout signage and local press. We opened with a community open day and made sure that our local awareness was as high as it possibly could be.

Our ethos is very much about personal service - we send a Christmas card to every client on our database with a £5 voucher for the coming year and our staff are always friendly and helpful (that's what our clients say. Not just me!).

We're pretty small by many standards, with only two vets, but as a result of our strong ethos and focused marketing strategy, we think we're managing to punch above our weight:

 Our average transaction value is £65 (twice the national average)

 We have 100 new clients registering a month (the national average is 20/vet /month)

 Client feedback tells us that 90% of them chose us through recommendation

 Each month 40–50 of our new clients come to us through our Friend Get Friend scheme

 We have an excellent relationship with local key opinion leaders, which we have fostered from the very beginning with open days, open relationships and cakes!

At NuVet we believe that ultimately good medicine is good business. We do what's right for the pet at a price that's fair, and we never forget to show our clients respect.

It seems to be working.

  

Speaker Information
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Marwan Tarazi, BVSs, MSc, MRCVS
Nuvet, Hedley House
Peterbrough, UK


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