Owning a Non-Veterinary Business

[UnevenHoodieStrings]

Hey everyone! (Question is in bold for those that don't want to read my lengthy explanation)

I have very recently thought of an interesting business venture in which a good friend from undergrad has told me that I should really look into doing and that she'd be interested in even going into with me, but I am really unsure how it fits into my career goals of being a veterinarian as well as other life aspirations.

For the sake of some background info, the two of us are agriculture women (me looking into food animal medicine and her looking at becoming an animal nutritionist) and my business idea is very similar to a Plato's Closet for folks in the ag industry or the like who need practical, durable clothing and work-related items for a discounted price. People who have new or gently used items could bring them to the store to sell, and we would pay them a bit of cash for their stuff. In our region, this business has the potential to bring a lot of business!

As you can imagine, this is attractive to me for a few reasons. First and foremost, this business, if successful, has the potential to help me pay back these pesky loans that come with earning a DVM and then some income on top of being a DVM. I'll also be offering something to people that I always wished I could have, which couples with my natural tendency to help people. And I'd be working with folks within the ag community in other ways besides with veterinary medicine.

Some concerns I have are obviously the nitty-gritties of entrepreneurship such as related costs, possibility of the business not being successful, and the (minimal) possibility of my friend dipping out and leaving me high and dry. I've also always dreamed of having a hobby farm, which is tons of work and could be a little business in itself (selling animal products, fruits, vegetables, etc.) while also wanting to start a family, so I'm not confident at all that a store like this would afford me enough time for that. I've also got a boyfriend (who will likely become husband, if I'm going to be completely honest) who has his own life aspirations to consider as well, many of which fit very nicely with my aforementioned aspirations.

Now here's my question: Is it an unreasonable/foolish/etc. idea to even consider being a veterinarian as well as co-owner of a non-veterinary related business? Does anyone have any background on a similar situation such as this? Be completely honest with me, I really want to hear what others think!

To be clear, if it came down to choosing the career of veterinarian over an entrepreneur, I would choose a veterinarian in a heartbeat. This is simply a wacky proposition I had and am looking for other opinions. I'm naturally predisposed to taking in and appreciating all the opportunities available in life, but not without some serious consideration! In reality, this probably won't come to fruition, but I felt the question would be good to ask nonetheless as I'm sure I'm not the only person in the veterinary industry to have come across a situation like this.

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[CalliopeDVM]

I don't think it's foolish if you were an established veterinarian, but I think taking that on while you're trying to establish yourself as a veterinarian would be a mistake. There's so much in beginning your career that I think the work of another business would be too much


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[Doctor-S]

Hey everyone! (Question is in bold for those that don't want to read my lengthy explanation)

I have very recently thought of an interesting business venture in which a good friend from undergrad has told me that I should really look into doing and that she'd be interested in even going into with me, but I am really unsure how it fits into my career goals of being a veterinarian as well as other life aspirations.

For the sake of some background info, the two of us are agriculture women (me looking into food animal medicine and her looking at becoming an animal nutritionist) and my business idea is very similar to a Plato's Closet for folks in the ag industry or the like who need practical, durable clothing and work-related items for a discounted price. People who have new or gently used items could bring them to the store to sell, and we would pay them a bit of cash for their stuff. In our region, this business has the potential to bring a lot of business!

As you can imagine, this is attractive to me for a few reasons. First and foremost, this business, if successful, has the potential to help me pay back these pesky loans that come with earning a DVM and then some income on top of being a DVM. I'll also be offering something to people that I always wished I could have, which couples with my natural tendency to help people. And I'd be working with folks within the ag community in other ways besides with veterinary medicine.

Some concerns I have are obviously the nitty-gritties of entrepreneurship such as related costs, possibility of the business not being successful, and the (minimal) possibility of my friend dipping out and leaving me high and dry. I've also always dreamed of having a hobby farm, which is tons of work and could be a little business in itself (selling animal products, fruits, vegetables, etc.) while also wanting to start a family, so I'm not confident at all that a store like this would afford me enough time for that. I've also got a boyfriend (who will likely become husband, if I'm going to be completely honest) who has his own life aspirations to consider as well, many of which fit very nicely with my aforementioned aspirations.

Now here's my question: Is it an unreasonable/foolish/etc. idea to even consider being a veterinarian as well as co-owner of a non-veterinary related business? Does anyone have any background on a similar situation such as this? Be completely honest with me, I really want to hear what others think!

To be clear, if it came down to choosing the career of veterinarian over an entrepreneur, I would choose a veterinarian in a heartbeat. This is simply a wacky proposition I had and am looking for other opinions. I'm naturally predisposed to taking in and appreciating all the opportunities available in life, but not without some serious consideration! In reality, this probably won't come to fruition, but I felt the question would be good to ask nonetheless as I'm sure I'm not the only person in the veterinary industry to have come across a situation like this.

I'm going to tag the @The White Coat Investor. He might have some thoughtful comments in response to your post.

 

[The White Coat Investor]

I hate that a doctor of any kind can't make enough money practicing their profession to pay off the cost of the education for that profession.

The best side gig for a doc is one that you can work out or not work on as you see fit and which has zero start up costs or low enough ones that you can bootstrap them. Not sure yours meets that criteria, but I'd keep investigating because I love entrepreneurship.

 

[UnevenHoodieStrings]

Thank you for your input, everyone! I guess we'll just have to see where life takes me!

 

[chickenlittle]

I hate that a doctor of any kind can't make enough money practicing their profession to pay off the cost of the education for that profession.

The best side gig for a doc is one that you can work out or not work on as you see fit and which has zero start up costs or low enough ones that you can bootstrap them. Not sure yours meets that criteria, but I'd keep investigating because I love entrepreneurship.

Had no idea you were here on SDN!! Read your blog occasionally (was directed there by Mr. Money Mustache forums) and recently started listening to your podcast. Nice work!!!

Also, @UnevenHoodieStrings - you're in luck. White Coat Investor wrote a blog post that perfectly captures your question: Enterpreneurship and Passive Income