Practice valuation requires insight into the veterinary profession,
financial expertise and business know how.
NOT ALL VETERINARY PRACTICE VALUATIONS ARE CREATED EQUAL
Many veterinary brokers, both large and small, offer a free valuation of your practice in mere minutes. Unfortunately, you usually get what you pay for. The advisors at Simmons take the time to perform a thorough and detailed valuation. We are singularly focused and totally immersed in veterinary practice transitions and the veterinary industry exclusively which provides us with the perspective necessary to render accurate and detailed valuations.
We pride ourselves in having an incredible reputation for providing an accurate veterinary practice valuation. In fact, Simmons has more credentialed business appraisers than any other firm.
Not sure if you’re ready? If you’re thinking of selling but aren’t ready to undertake a full valuation – we’re still here to answer any questions you may have. Contact your Simmons advisor for a complimentary consultation.
When to get a veterinary practice valuation
It is advisable to have a valuation done three to five years before you actually plan to sell your practice. A valuation sets a baseline of your practice value and can illuminate areas that need attention. With advanced planning, you can make adjustments over time that will boost the practice‘s total value. Simmons advisors provide exceptionally accurate valuations and have the unequaled experience to provide invaluable advice for your transition, often increasing a practice’s worth prior to a sale.
A rapidly expanding use of practice appraisals is for veterinary practice management and various strategic planning programs. Because the practice appraisal assesses the profitability of the veterinary practice and the risk associated with the practice’s ability to maintain the profitability, the practice appraisal is recognized as a superior management tool and is an integral component of several management related programs such as:
- exit strategy planning
- monitoring the efficiency of long-range planning programs
- measuring the veterinary practice’s ability to create value.
The practice appraisal is a detailed process that establishes a determination of value for a practice at a specific point in time. The majority of Simmons & Associates client services involve the transfer of ownership of a practice’s assets, so the practice appraisal is an important initial step. The following client services are based on the practice appraisal:
- veterinary practice sale transactions
- associate buy-ins
- partnership buy-ins
- merging two practices
While performing veterinary practice appraisals for transaction purposes remains the primary reason for appraisals, there are other non-asset transferring reasons which require a practice appraisal. These include:
- tax court disputes
- legal procedures—marital dissolution, partnership disputes, etc.