What We Can Do for Sellers

From the very beginning of the practice analysis to the closing, Simmons was always available to guide me through the sale of my practice. They targeted many potential buyers, contacting them by mail, e-mail, and phone, and through journal ads and flyers. I was kept informed at all times of who had been contacted and what information had been released. The process was as user friendly as any such major financial transaction could possibly be,” Sandra C. Kudrak, DVM, Diplomate ABVP

Looking for a buyer?   Selling to an associate?   Selling to a colleague?

 

Simmons can handle your practice sale from start to finish or provide expertise for a specific service. We offer full representation, practice valuation, facilitation, negotiations, and sample sales contracts and letters of intent. When selling your practice, you’ll want the expertise of the nation’s largest and most experienced brokerage firm, Simmons & Associates.

With our regional expertise and national reach, Simmons can offer services in the following ways:

Full listing and representation with Simmons

When you list your practice with us, we will represent you and your best interests. We will weed out “window shoppers,” dealing with only serious buyers and their advisors such as an accountant and/or attorney. This frees you up to continue practicing medicine without business interruption. Listing your practice includes but is not limited to:
•    A practice valuation (fair market analysis)
•    All costs related to marketing the practice locally, regionally, and nationally
•    Access to Simmons’ national database of buyers
•    Negotiations between you and the buyer and/or their advisors
•    Assisting the buyer in obtaining financing from a Simmons’ preferred lender
•    Sample contract for attorney review and modification
•    Aid in structuring the transaction (allocations, terms, non-competes, etc.)
•    Working with the closing agent to keep everything moving forward
•    Expert advice from listing to closing

Facilitation when you’re selling to an associate veterinarian or other known buyer

As a facilitator, we would assist both you and your colleague through the steps of the practice sale with both sharing the cost.  We would handle all of the details through closing. Having an outside expert facilitate your sale can help you ease the transition with employees and vendors, resolve concerns that may arise during negotiations, and ensure a collegial relationship between the buyer and seller after the sale because we want both parties to leave the closing table with positive feelings toward each other. Our facilitator service includes but is not limited to:
•    A practice valuation (fair market analysis) unless the price is already set
•    Negotiating all details between the seller and buyer
•    Sample contract for attorney review and modification
•    Assistance in obtaining financing for the buyer
•    Aid in structuring the transaction (allocations, terms, non-competes, etc.)
•    Attorney, accountant, insurance agents, and lender referrals
•    Expert advice from negotiations to closing
•    Working with the closing agent to keep everything moving forward

Written practice valuation

A written valuation is a formal document that describes how and why we arrived at your practice’s value. The report details each part of our analysis. Our clients often comment on the detailed, clear, and precise explanation of our methodology and thought process. When representing yourself, this is a vital instrument that you can provide to the buyer and his or her advisors to support your asking price. You will complete a practice information form and provide financial statements. Your Simmons’ advisor also will talk with you to gather and confirm accurate details. A written practice valuation takes about 4 to 5 weeks once your complete practice information is submitted.