More than 46.3 million households own at least one dog today, and according to the latest data from the American Pet Products Association, we collectively spent an estimated $60.59 on our pets in 2015. That’s up from $55 billion in 2013. Even during the peak of the recession, Americans continued to spend more and more on their animals.
According to the APPA, in 2015, that spending breaks down like this:
- Food: $23.04 billion
- Supplies and Over-the-Counter Medicine: $14.39 billion
- Veterinary Care: $15.73 billion
- Pet Services (Grooming, walking, boarding): $5.24 billion
Most people don’t go into veterinary care just for the money, but because of their deep and abiding love for animals. Even so, it is a booming business, representing one of the largest segments of the growing pet industry.
Still, veterinary practices still face major obstacles, especially now that the American Veterinary Medical Association says 90% of veterinary students graduate with “significant debt.” Many new and existing veterinary practices are facing a common dilemma: raise prices or find ways to cut costs?
For clinics going with the latter option, finding used veterinary equipment for sale can be an effective method for reducing overhead. Veterinarian equipment is a major expense for anyone who cares for animals, yet many people don’t even realize how easy it is to buy used medical equipment in 2016.
Just like the Internet has revolutionized other aspects of commerce, it’s never been easier to find used veterinary equipment online. While some vets might be reluctant to purchase used equipment, the best refurbished veterinary equipment goes through a rigorous inspection process. At the same time, items without electronic components — like veterinary exam tables — represent an obvious way to reduce vet clinic overhead with the push of a button.
In addition to expensive veterinarian equipment like imaging technology, creative vets can also look to cut costs in other, simple ways. From the chairs in their waiting room to the cabinets in their exam rooms, veterinary clinics in 2016 are on the lookout for new ways to cut costs. That means a constant balancing act between reducing overhead and raising costs when necessary.