As the year draws to a close, we’re reflecting on all the transactions we’ve had the privilege of brokering for veterinarians across the United States and Canada. From solo hospitals to multi-location practices, buyers and sellers who achieved the best outcomes were those who understood their numbers, planned early, and aligned their decisions with long-term goals with the guidance of experienced advisors.
We’ve asked our brokers to weigh in with their most salient advice and observations gleaned from 2025. Whether you’re preparing to sell, considering an acquisition, or simply watching the market, these lessons reflect what actually drove successful outcomes in today’s transaction environment.
Advisor Insights: 2025 Deal Drivers
Dagmar Sachs, CEPA
Simmons Great Lakes and Simmons Mid-Atlantic
Preparation is key. In many places, this is a buyer’s market, so sellers must have their practices ready to sell—preferably spiffed up and clean/painted, with minor repairs and clutter addressed. To understand and maximize value, get a fair market valuation at least 3-5 years before selling from an accredited valuation expert with expertise in the veterinary field and follow their recommendations for improving the operating profits.
Patience is another key. Buyers will most likely (more than 95% of the time) come from within a 30-minute drive of your practice. If you are not in a major metro area, it may be several years until a buyer is found, as the vast majority of buyers are not willing or able to relocate. This underscores the importance of early planning and preparation.
David McCormick, MS, CVA
Simmons Great Lakes and Simmons Mid-Atlantic
Unfortunately, I’ve encountered too many folks who waited too long before planning their exit. For some it did not matter. For others, though, when they found out their practice value was low, they did not have the time or energy to do anything about it. If they had more time, they could have improved their practice’s financial health, which could have significantly increased the practice value.
Kate Owens, DVM, MBA, CVA
As we enter the new year, veterinary practice owners need to stay proactive, data-driven, and people-focused. Strong financial performance increasingly depends on understanding key metrics—revenue per transaction, client retention, staffing efficiency, and pricing strategy—rather than relying solely on top-line growth. Investing in team development, culture, and compensation is critical as labor remains competitive. Practice owners should also plan early for transitions (whether expansion, partnership, or exit) and maintain clean financial records to preserve value.
Elizabeth Bellavance, DVM, CEPA
For corporate practice sales, it’s helpful for sellers to have realistic expectations of the workload and time requirements involved with due diligence. Sellers can anticipate a lengthy (on average, 60-90 days) and document-heavy process involving multiple diligence streams running in parallel—financial, legal, tax, operational, HR, real estate/lease, strategic. Knowing this up front and having the guidance of a knowledgeable broker can save a lot of emotional turmoil! Remember: Due diligence is not about proving you ran a perfect practice. It’s about confirming value, understanding risk, and structuring a fair deal. Prepared sellers experience fewer price adjustments, fewer surprises, and stronger closings.
Stacy Cadieux
A setback does not mean “stop.” I once worked with a buyer whose first practice acquisition fell apart late in the process. Instead of walking away discouraged, she did what successful owners do: She sought advice from experienced advisors, listened carefully to current practice owners, and recalibrated her approach. That preparation led her to the right opportunity—a well-run practice, a smooth closing, and ultimately confident ownership. The lesson is simple: Resilience paired with good counsel turns disappointment into better outcomes. Stay engaged, learn from the process, and keep moving forward.
Byron Farquer, DVM, CVA
The single largest challenge I’ve seen repeatedly in the past three years are lab contracts. They entice veterinarians with discounts, “free” money, discounted equipment etc., and the veterinarian often has no clear understanding of what they have committed to. They never get an exit calculation before they sign up. It is vital that they know what it costs them to get out of their lab contract. In cases where they don’t, it often destroys a sale or reduces the sale proceeds dramatically. A practice owner should never enter a lab contract if they plan to sell during the lab contract time period.
Carly Watson Tobler
I wish more owners would have management and planning appraisals well before they’re ready to sell—a minimum of 3 years—to give themselves time to not only fix profitability issues and improve their valuation and sale price, but also to set realistic expectations for what their practice likely will sell for. I also advise owners to maintain their facilities, making updates and improvements periodically. Although private buyers are becoming more active and money is still readily available at great rates to potential buyers, they are still very particular about the practice they’ll purchase. Not only do they desire the “perfect” market, but they are also typically seeking a modern, well-equipped facility, with an open floor plan and a minimum of 3 exam rooms.
Top 5 Bookkeeping Tips from
Simmons Midwest and Simmons Northwest
Practice owners can avoid many headaches by being more intentional with the quality of their bookkeeping. Our key advice is to:
- Avoid mixing personal and business expenses. Keep them completely separate to maintain clarity and compliance.
- Separate bookkeeping for each location. Tax returns and financial statements should be distinct for every location you operate.
- Record expenses by individual receipt. This way, you capture vendor details instead of just a generic payment to the credit card company.
- Reconcile revenue across systems. Your financial software and practice management software should tell the same story.
- Plan ahead for potential sales. If there’s the possibility you could sell part of your business, separate revenue and expenses for that segment (e.g., a mixed animal practice owner preparing to sell the small animal portion).
Strategy for 2026 and Beyond
As we move into the new year, the most important advice is simple: Don’t treat ownership or transition as an event—treat it as a strategy. The earlier that strategy is defined, the more freedom, value, and options practice owners ultimately create.
Is 2026 the year you start your new chapter of practice ownership? Lean into this advice and other sage wisdom from the most experienced veterinary practice broker in North America. Contact Simmons today.
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