Only the Best for Your Fur Baby – Veterinary CPA
In today’s competitive marketplace, it’s hard to truly differentiate your accounting practice and make the competition irrelevant by focusing on a tiny segment of the marketplace. However, that’s exactly what John Siebert, owner of Siebert & Reynolds CPA, is doing by developing an expertise amongst pet hospitals, animal clinics and veterinarian practices in Ohio.
In John’s case, he has family members who are veterinarians and had always enjoyed working with veterinarians as clients within his accounting practice. He has also noticed how pet ownership has become integral to raising a family and noticed how many retirees love their pets as the nest gets smaller at home and people are living longer.
Here are several other factors that motivated John Siebert, owner of Siebert & Reynolds CPA in Columbus Ohio, to passionately pursue the veterinarian sector.
- Pet ownership within the United States increased from 54% in 2009 to 68% in 2018.
- The largest spenders on pets are baby boomers aged 55 to 64 years old.
- Very few CPA Firms focus on veterinarians.
- Columbus Ohio is very family friendly, which is ideal for the growth of pet hospitals, animal clinics and veterinarian practices.
- While most of the Midwest and most cities in Ohio have been shrinking in population, the population in Columbus has exploded and home values are rising by 9% (Forbes, 8/6/18).
- Savvy marketing companies are expanding their presence in the animal health industry through acquisitions because of the steady growth trends. General Mills acquired Blue Buffalo for a huge premium in 2018 (25 times EBITA). Mars continues to make strategic acquisitions.
To support his animal health niche and become the best at servicing veterinarians, John is an active member of VET Partners, VET CPA Association and will market his firm at the Midwest Vet Conference during tax season.