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 […]

Is Veterinary Practice Ownership For You?

David McCormick, MS & Sherry Everhart BS, RVT –  For many veterinarians, the thought of being your own boss is quite appealing. This can be especially true depending on your current employment arrangement. Thoughts of making the rules and key decisions, practicing medicine your way, leading the charge, increasing your earning capability and so on, can be […]

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 […]

What are the benefits of owning a practice?

David King, DVM, Simmons Southcentral –  One of my heroes of history, Theodore Roosevelt, once said “Speak softly but carry a big stick” and I liken that somewhat to practice ownership. There is just no substitute for carrying that ‘Big Stick.’ There are many reasons NOT to own a practice, and they are all based […]

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, […]