Navigating the Veterinary Accounting Landscape - The Journey of Jharid Pratt: From Intern to Principal

EP 003

Bill Murray sits down with Jharid Pratt, principal of Granite Peak Associates, to discuss veterinary accounting and financial planning. Jharid recounts his journey from intern to principal in a national accounting firm that focuses exclusively on the veterinary sector. His experience gives him a unique perspective on the financial challenges and opportunities veterinarians face, especially as they seek to scale their practices or plan for exit strategies.

Jharid’s insights extend beyond numbers; he discusses leadership and client relationships as critical elements for long-term success. He shares his strategies for empowering teams and maintaining strong client relationships on a national scale. For veterinary practice owners or associates looking to understand the financial side of ownership, this episode provides a roadmap for sustainable success in a growing industry.

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• Takeaways

  • Jharid Pratt's journey in veterinary accounting began with an internship.

  • Granite Peak Associates focuses exclusively on the veterinary industry.

  • Proactive financial planning is essential for veterinary practices.

  • Quarterly conversations with clients help anticipate financial needs.

  • Understanding EBITDA is crucial for practice valuation.

  • Veterinary owners should know their numbers to maximize exit value.

  • Investing in facilities is important for attracting buyers.

  • Leadership involves empowering teams and fostering a strong culture.

  • Maintaining client relationships is key for national firms.

  • Growth in the veterinary industry requires a solid team and clear vision.

• Chapters

  • 00:00 Introduction to Industry Insiders

  • 02:16 Jharid Pratt's Journey in Veterinary Accounting

  • 04:50 The Roller Coaster of Business Ownership

  • 06:42 Managing Rapid Growth in Veterinary Practices

  • 08:22 Granite Peak's Unique Approach to Veterinary Accounting

  • 10:15 Quarterly Conversations: A Proactive Approach

  • 13:15 Understanding EBITDA and Its Importance

  • 15:32 Planning for Financial Success

  • 17:21 Comprehensive Services Offered by Granite Peak

  • 19:01 Maintaining Client Relationships Nationally

  • 21:11 Advice for Veterinarians Entering Ownership

  • 23:38 Preparing for an Exit Strategy

  • 26:11 The Importance of Ongoing Conversations

  • 28:48 Leadership Style and Team Empowerment

  • 33:18 Jharid’s Wicklow: Building a Life of Experiences