When I set this series up, I planned for Part 3 to be the honest comparison between the build and the buy. Two months in, I do not have that article yet. What I have is a raw interim report on where both practices stand, what running two at once actually complicates, and where I am putting my head down to keep moving forward. Everything goes through waves in both startups and acquisitions, and feelings can change from morning to evening. Two months is enough time to give you the honest truth. It is not enough time to give you a verdict.
Sugar Grove at 10 Months
Sugar Grove is wonderful. It can be improved and optimized, but I have been open about wanting to do things differently here, using this practice as a vehicle to build future partners and owners while testing new workflows and technologies. Revenues continue to grow, and the veterinarians we have brought on are growing as clinicians and as leaders, which has become even more evident as my time has split between two locations and leaned heavily toward the acquisition.
The team has continued to run our monthly meetings, and I have taken a step back to mostly observe the last two. It has been a real test in how well we set this practice up to survive without the owner in the building, and their suggestions have shaped the workflows to fit the people actually running them. Four wonderful doctor leaders are steering the ship, and Sugar Grove just had its best financial month with me not in the building. There is still real work ahead, but we are doing well and I want to continue my mission to reimagine Veterinary care.
Heartland at Two Months
I need to be raw here. When we acquired Heartland Animal Hospital, I told myself I would not make any major changes for two months. Honoring a business that has been open for 33 years meant something was clearly working. I approached it almost like a corporate acquisition would. I was open with clients and the community about new ownership, but I told the team and the clients that things were not going to change for the time being.
Honest read of that approach: sitting idly and observing is probably not the way I will do the next acquisition. There is real value in observing. There is also real value in adding changes to the services and offerings immediately. Change is never easy, so you might as well rip the bandaid off and get a little uncomfortable right from the start.
Legacy can be honored and built upon, but the acquisition still has to reflect the new owner. You cannot buy a practice to maintain the same identity. That is impossible. You buy the practice, and you still have to transition it to the brand that fits the person who runs it. The single thing I know needs to be improved at Heartland is transitioning the current workflow into a more streamlined process with fewer handoffs, much like Sugar Grove. That will take an improved technology stack, better training, and open client communication.
What Running Two Actually Complicates
Splitting my attention is the newest challenge I am navigating. Right now the acquisition is getting most of it, and Sugar Grove is holding steady because the team is ready to hold it steady.
We are already in the process of changing the technology stack at Heartland. The legacy PIMS system works, but it does not fit my long-term vision. I know PIMS will probably look drastically different two or three years from now, but we are committed to the change to fit our hybrid scheduling workflow. As a lover of change, I am actually looking forward to it. It feels like a rebirth. Most people dread a PIMS transition. I am going to embrace it.
The people piece is different from startup to acquisition. It all comes down to getting to know the team you inherited, learning how they operate, and incorporating new members over time. When you introduce existing team members from another practice, part time, the risk is the us versus them mentality. I cannot stand it, and I will do everything I can to support a healthy transition.
Cash flow is good at both practices. Sugar Grove’s ramp was slower in the first couple of months, but we never had to pull from the loan to pay bills. That surprised me. Heartland has good cash flow too, but drumming up new business in an acquired practice is easier said than done, even with marketing strategies that had not existed there before. The growth ramp so far has not looked like what I saw with the startup. Two months in is way too early to make a call.
On brand and identity, I walked a fine line. I did not touch the branding of the acquisition initially. I have since changed my mind. I have to be as passionate about our brand as the seller was about hers. The middle ground: we have not changed the name entirely, and we are combining our True.Vet brand identity with the Heartland Animal Hospital name. New color scheme, new logo, and a refresh of the space.
Where the Optimism Lives
The single thing that excites me most about running both practices at once is that I get to live acquisition and startup in real time and compare them live. That is a unique vantage point, and it is something I plan to turn into a full book someday.
Sugar Grove excites me because the team has embraced the reimagined mindset. We are focused on efficiency and accessibility, and clients love it. It has also shown me something I want to name for anyone thinking about a startup. Practice ownership opportunities in rural and small suburban areas have real potential. Instead of looking at upscale suburbs or urban areas, look at the fringes. There is far less competition, you fill a real void, and the growth potential is significant right away.
Heartland excites me because I get to take something that already exists and transition it. I think of it like restoring an old vehicle or rehabbing a house. There is so much potential, and I can see it. There is also, no question, a panic moment when you realize the amount of work to be done. I am no stranger to hard work.
Why the Verdict is Coming Later
I set out to make this a three-part series with Part 3 being the honest comparison. I do not have that article yet. Two months is not enough time for me to give an honest assessment. I tend to look at things in days and weeks instead of months and years, and this project needs the bigger picture view.
I am not going to write about startup versus acquisition every month. I will continue to document what I am doing and seeing with both models and contribute more insight when the runway is real. A goal for Heartland is to double the revenue by expanding services and hours. I want to bring urgent and same-day services to a practice that has been strictly appointment based. I want the brands to match so we can stay consistent while honoring the seller’s legacy with a modern twist.
Neither is Easy (That’s Not the Point)
Neither the startup nor the acquisition is easy. They both come with their own challenges and their own frustrations. In the end, either choice means taking control into your own hands rather than someone else’s.
Here is what I keep coming back to. The hardest part of entrepreneurship is not deciding whether to build or to buy. It is making the commitment to take the leap. There will be struggles and there will be positives on both sides. You just have to decide which ones you have more passion to tackle.
I will continue to build AND buy practices. Each one will come with a challenge, and each one will come with a lesson. This is the way I feel I can contribute to more veterinarians becoming independent owners.
A Note about True Vet Potential
True Vet Potential is my company, a leadership and people development company that owns and operates Veterinary practices through the True.Vet platform. My mission is to develop the next generation of Veterinary entrepreneurs in an environment where interest in practice ownership is decreasing. Both practices in this series exist to prove that independent ownership is still a viable career for veterinarians who want to build (or buy) one.