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> I think the cash merry go round will stop eventually because the moat, in as much as there is one, is the vet themselves, not the business. The moat is the l

> I think the cash merry go round will stop eventually because the moat, in as much as there is one, is the vet themselves, not the business. The moat is the land. It doesn't even matter if it self-owned or a lease. The vet just can't walk away and open a new practice nearby.

alwa 1y ago
Why not? It’s loosely regulated and people will follow their vet just as they’d follow their hairdresser, no?
dghlsakjg 1y ago
I’ve watched multiple vets do exactly that. I’ve seen vets in strip malls, converted houses, purpose built buildings, etc.