Questions I Should Have Asked When Selling My Veterinary Practice to a Consolidator

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When it comes to practice ownership, we are living in a gilded age, or time of rapid economic growth, for many. Owners have a “bull market” of buyers from the corporate consolidator realm seeking their favor, but this is not news anymore. So many have “cashed out” well beyond their financial expectations. They do not […]

Should I Sell My Veterinary Practice and Real Estate Together?

Keys on a ring

There are many things to consider when selling your veterinary practice, including whether to sell the real estate along with the practice. Many owners do not think they should sell or can sell the real estate too. We hear the following reasons for this doubt. Rental Income The sellers want the rental income. This may be […]

Exit Strategy Checklist – Preparing Your Veterinary Practice For Sale

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Click here for a printable PDF of this article: Exit Strategy Checklist  3 years before putting your veterinary practice on the market: 1 year before putting your practice on the market: Selling a veterinary practice is often the largest financial transaction made during a doctor‘s lifetime and involves much more than just setting a price. […]

Selling Your Veterinary Practice – Private vs. Corporate

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By, David King, DVM, CVA, Simmons Southcentral Like just about anything in life, deciding to sell a veterinary practice can be made easier with a little knowledge and a little planning. Knowing your options along with the pros and cons of each can help you make the right decision for you and your family’s future. […]

Enterprise Goodwill vs. Personal Goodwill: What Is the Difference?

enterprise goodwill

Byron Farquer, DVM, CVA Each veterinary practice has two main assets classes — tangible and intangible. Tangible assets include items you can pick up and carry around like furniture, trade fixtures, medical equipment, and supplies. Intangible assets are the practice’s assets that exist but not in a physical form, the most important being goodwill. Read on […]

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 […]

10 Questions You Have About Selling Your Veterinary Practice

Graphic saying "10 Things NOT To Do"

Selling your veterinary practice is a huge milestone that can feel overwhelming. And, while every veterinary practice ownership transaction is different, after over 100 successful transactions, we have noticed a few common pitfalls and traps for the seller. Whether your exit is imminent or 15 years from now, here are, a few answers to questions you […]

Who Can Afford to Buy, and Can You Afford to Wait to Sell?

someone holding a for sale sign

Nikki Nitz, CPA, CMASimmons Northwest At Simmons, we get asked regularly about veterinary practice ownership, “Are there buyers who can actually afford to buy?” The quick answer is yes! There are a few considerations to keep in mind, so read on as we outline them for you. Who Can Afford to Buy? When a practice […]

6 Questions Veterinarians Ask When Buying or Selling a Practice

Magnifying glass over "Frequently asked Questions"

In most cases, buying or selling a veterinary practice is a novel experience. It can be a daunting ordeal and potentially the biggest investment of your life. We understand how intimidating and overwhelming the process can be and we’ve answered some of the most common questions for you. If you don’t see your questions listed […]

Should I Let the Buyer Work in the Practice Before the Sale?

Hands shaking

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 […]