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It’s 2020! Can You See Your Exit Clearly Now?
By, David King, DVM, CVA Simmons Southcentral Wow it’s 2020 and a new decade. It always sounded like it was far in the future but here it is, and with it new opportunities to capitalize on your hard work and either sell your practice or plan a sound exit strategy....
Q&A with the Simmons Experts – COVID19 Veterinary Practice Value Impact
You Asked, We Answered! Dr. King and Nikki Nitz answer the questions you are asking about the impact of COVID19 on the value of your veterinary practice! Have more questions? Contact your regional Simmons advisor, we are happy to discuss your practice and answer your...
COVID19 Veterinary Practice Value Impact – The times they are a-changin’…maybe.
Doyle Watson, DVM Simmons Southeast The value of something we wish to own is typically based upon the future benefit we expect from owning it. We can expect no benefit from the past. That has been enjoyed by the previous owner. We can, however, determine the previous...
Buying Your First Veterinary Practice – What You Need to Know
If autonomy, directing a small team, and having prospects for affluence are important to you, then owning your own veterinary practice may be a good choice. Buying your first practice doesn’t have to be a shot in the dark. This article highlights some of the common...
SHOULD THE VETERINARY PRACTICE AND REAL ESTATE BE SOLD TOGETHER?
There are many things to consider when selling your veterinary practice, including whether to sell the real estate with the practice. Many owners do not think they should sell or can sell the real estate with the practice. We hear the following reasons: They want the...
Can Staff Expenses Be Managed?
Staffing costs are one of the most significant expenses in a veterinary practice and controlling these costs remains one of the most challenging issues for most practice managers and owners. Even in actively managed practices, it still can be a struggle to get...
Exit Strategy Checklist – Preparing Your Veterinary Practice For Sale
Click here for a printable PDF of this article: Exit Strategy Checklist 3 years before putting your veterinary practice on the market: Make quality time to write down your goals; develop a timeline; consider life after practice. Have a baseline practice valuation...
Is your veterinary practice exit strategy up to date?
Amazing to think that we will soon be in the next decade. While 2020 always sounded like it was in the distant future; here it is. A new year presents a new opportunity to capitalize on your hard work and either sell your practice or work on a sound exit strategy....
Selling Your Veterinary Practice – Private vs Corporate
By, David King, DVM, CVA, Simmons Southcentral Just 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...
“What’s in Your Wallet?” Or rather…”What’s in Your Clients’ Wallet?”
Wilson McManus II, DVM CVPM & Kris Smith CVPM ~ Many of today’s veterinary hospitals can receive up to 80% of their payments for services and products electronically by credit card, debit card or App based payments. This percentage could be even higher in the...
I Just Want to Be a Doctor, Not an Owner/Manager Anymore!
By: Nikki Nitz, CPA, CMA - Simmons Northwest & Simmons Midwest A common theme I am hearing from potential clients right now is, “Nikki, I just want to be a doctor and practice medicine. I don’t want to deal with all the management headaches anymore.” Can you...
Enterprise Goodwill vs. Personal Goodwill
What’s the difference, and what impact does it have on practice buyers and sellers? 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,...
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