Vets by the Bay

Owners of Vets By The Bay Tracy Beutel and Ashleigh Rogers approached Magnus to assist them to realise their dream. Passionate about animals and their welfare, a rare opportunity to purchase a veterinary business that had stagnated under the previous owners; but had plenty of opportunity for growth. 

The hurdle that they faced was that although they had good industry experience, neither had owned or operated a business in their own right.  After discussions with Magnus a plan was developed to:

• Undertake due diligence on the purchase of the business
• Guide the development  of a business plan
• Set up a corporate structure that was both tax effective and protected assets
• Set up the Xero cloud based accounting system
• Initiate review meetings to compare business plan forecasts to actuals once the business had been taken over
• Attend to compliance requirements (BAS and tax returns )

The result has been a resounding success, both in terms of personal achievement and financial results. The business has bloomed under the current owners with regular new clients and high retention of existing clients