Veterinary Practice Sales Education Center

Thinking of starting your own practice?  The idea of starting your own practice can be exciting and overwhelming at the same time.  Dick Goebel, DVM, AIBA, has created a list of questions to consider before starting your own practice. View the document here: Questions to Consider Before Start-Up

Sherry Everhart BS, CVT & David McCormick, MS Simmons Mid-Atlantic Click Here for PDF of Article: Embezzlement_Is Your Practice at Risk

ο Executory contracts – Make a list of any ongoing contracts that might obligate the buyer to any payments after the sale, such as yellow pages, software support, janitorial, lab equipment, maintenance, copier maintenance, etc. Include the contact information in the list. Contact the companies to determine if contracts can be transferred, or if they [...]

Click here for a printable PDF of this article: Exit Strategy Checklist 3 years before putting your practice on the market: Make quality time to write down your goals; develop a timeline; consider life after practice. Have a baseline practice valuation performed by a competent veterinary practice appraiser. Experience and credentials are critical. Identify areas [...]

These days, practice computer systems contain a wealth of data – client names, addresses, financial information, pet medical records, lab reports, etc.  Also, many practices have a direct internet connection for software updates, lab results, VIN, emailing clients, etc. as well as for updating their website and social media.  How safe is your client data [...]

Dick Goebel, DVM, AIBA Simmons Great Lakes For a PDF of document, click HERE: Questions to consider before associate position_Goebel

Byron Farquer, DVM, AVA Simmons Pacific & Southwest Inventory is the second largest expense in the veterinary practice, next to the cost of labor. It often consumes 20% or more of gross revenue and, left unchecked may swell to considerably more. Profitability becomes a challenge when large expense categories are not constrained to appropriate benchmark [...]

The New Year brings with it the time when practice owners review their strategic plan and business goals. Many of the owners we talk to are wondering if this is the year to consider selling their practice. There are several reasons why it would make sense to sell in 2011.   One is that commercial [...]

Byron Farquer, DVM, AVA Simmons Pacific Click here for a printable PDF ~ Economics 101 – Byron Farquer DVM, AVA Economics 101. What a misnomer. It implies that there is something meaningful achieved by completing a few weeks of study or a syllabus regarding general information surrounding supply/demand issues or the monetary system we all [...]

Byron Farquer, DVM, AVA David McCormick, MS For a PDF of this article ~15 Minute Practice Financial Physical For your medical patients, assessment of health or disease starts with a good physical exam. The same goes for your veterinary practice. Every business consultant will tell you that performing a financial exam, even a quick one, [...]