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Exit Planning – 10 Things Not To Do!

While every veterinary practice ownership transaction is different, after over 100 successful transactions we have noticed a few common pitfalls and traps for the owner/seller. Whether your exit is imminent or 15+ years from now, here are a few to watch out for on your path forward, a list of what not to do. Give […]

Veterinary Practice Profitability Trends and Tips

By: Kirsten Poppen, JD, CVA, Simmons Midwest – You’re proud of your practice and with good reason. You have an attractive facility, a well-trained staff, newer equipment, and a solid client base. Overall, yours is a comprehensive, client-oriented practice. Yet perhaps you have concerns that your bottom line profits aren’t where you’d like them to […]

Should I Let the Buyer Work in the Practice Before the Sale?

Once a buyer and seller have agreed on a price, they are both eager to finalize the sale. Each party is ready to begin a new life. This makes the buyer extremely eager to begin working in the practice. Sometimes, the seller is happy to have the buyer help run the practice. However, there are […]

The Cost of Technology in Veterinary Practice

By: Joe Stephenson, MA – Simmons Northeast – As a veterinary business appraiser and broker I see droves of young veterinarians reared on cutting edge technology, hungry for practices thoroughly equipped with blinking lights and high resolution screens. I also see practice owners sink all of their earnings into new gadgets just before they retire. […]

Can Your Veterinary Practice Be Too Profitable?

By: Nikki Nitz, CPA CMA –  There is a lot of information circulating about No-Lo practices. But how about we flip the coin and talk about highly profitable practices? You would think that there should be no issue with having a higher profit percentage correct? Well, think again. A No-Lo practice is one that has […]

Leases, Leases, Everywhere Leases

By Kirsten Poppen, JD, CVA Simmons  Midwest – Why is my practice not making any money? Let’s examine your expenses.  Many of you have heard of No-Lo Practices, a term that has hit front and center in the veterinary consultant world.  No-Lo: Practices with No to Low Value.  No-Lo Practices aren’t necessarily a bad investment, […]

Dealing With Leases in Veterinary Practice Sales

Elizabeth Bellavance, Simmons Canada ~ It is becoming more common for suppliers of veterinary products and services to enter into long-term contractual agreements with veterinary practice owners. These agreements can have far reaching implications for practice owners, especially if owners wish to sell their practice during the term of the agreement. Caution is advised before […]