David King, DVM, Simmons Southcentral
It is true. You don’t need a broker to sell your veterinary practice. It’s your property. You can do whatever you want with it. However, it is also true that your clients can treat and medicate their own pets. Now, most of your clients would never dream of spaying their own pet. Instead, they will seek out someone with the expertise and compassion needed to perform such an important task. In other words, they’re going to seek you out! They are also very willing to pay you your fee. They want the best for their pet.
Selling a veterinary practice is not all that different a situation. For most of us it will be the single most important financial transaction we do. Why wouldn’t you want skill and experience on your side? A broker will not only help you establish a fair price, but advertise, screen all inquiries, locate a buyer, help with financing, and bring the deal to a satisfactory closing.
A broker is an expert in the field. He/She will put your interests above all else, and do all the monotonous paperwork and phone messaging that it takes to sell a practice. Finally, here is the best reason of all to have a broker. It frees you up to do what you do best: practice veterinary medicine.