Unraveling the Mystery of Practice Appraisals
This article was co-authored by David King, DVM, CVA and Kate Owens, DVM, MBA, CVA. You might be surprised to learn this truth, but practice value is NOT a function of gross revenue. Rather, two main components create practice value. One is profit and the other is risk/desirability. Most valuations are done to arrive at […]
Veterinary Practice Goals for 2024
As we approach the end of each year, it is important to take time to reflect on the past year, review annual goals, and reset goals for the upcoming year. The majority of the population drifts through life aimlessly taking whatever life hands them. They spend more time planning their family vacation than they do […]
Veterinary Practice Valuation in 5 Minutes – David McCormick, MS, CVA
How is the value of a veterinary practice determined? Simmons & Associates’ David McCormick, MS, CVA provides an excellent overview of the various ways a veterinary practice valuation can be conducted. Are you interested in getting your practice appraised by a veterinary sales expert? Get in contact with Simmons Inc. today and discover the value […]
Increase Practice Value with Veterinary Practice Valuations
Increasing the value of your veterinary practice takes a lot of time and effort. If the sale of your practice at the end of your career is an important aspect of your retirement planning, consistent veterinary practice valuations can make a huge difference in what your eventual sales price. Knowing the elements that create value, […]
Practice Valuations: Is It Time for a Paradigm Change?
by Doyle Watson, DVM | Co-founder and CEO, Simmons & Associates, Inc. Has the time come when we, as veterinary practice appraisers and brokers, should reconsider the parameters of fair market value for the general small animal practice? For the past several years, corporate America has told us so, and now the commercial lenders are […]
Mistakes Owners Make That Hurt Their Practice’s Value
Practice owners focus so much on the daily challenges of patient care, client service, and staff management that they overlook factors affecting profitability and practice value. In this session, the authors discuss the most important factors that drive down value. Some may involve circumstances beyond your control, while others are manageable if properly addressed. We […]
10 Steps to Increase Your Veterinary Practice Value
When evaluating your veterinary practice, you do not want to be surprised by what you find out. That is why it is necessary to have a current knowledge of its value as well as what you can do to increase it. Read on to learn the steps you can take to help your practice be […]
How Drug Costs Can Kill Your Profit & Veterinary Practice’s Value
Simmons & Associates MidSouth – Wilson McManus II, DVM, CVPM & Kris Smith, CVPM | Do you feel you have a successful, busy veterinary practice, but you consistently end up with little or no profit at the end of each month? Have you recently had a practice valuation and were shocked that you don’t have anything to […]
Veterinary Practice Value, Product Sales, and Profitability: Is There a Connection?
By: Byron Farquer, DVM, CVA Most practices find that product and supplies costs often consume 18-20% of gross revenue and are second only to payroll as the most expensive business cost. One must have an inventory manager complete with a detailed job description to manage inventory. Simply giving someone the title Inventory Manager without a clear […]
Improving Veterinary Practice Value at the Employee Hiring Stage
Jim Connelly, CEO and Founder of Org Ex, uses the science of human behavior to assist business owners with their hiring decisions. Mr. Connelly has conducted over 2,000 behavior-based interviews which are interviews designed to predict the future behavior of an applicant based on their past behavior. The interview techniques are commonly used by human resource personnel […]
