Is it time to sell your veterinary practice?Most practice owners have had a number of offers as of late. Private equity groups, small corporations, large ones…all are agreed that the business of veterinary medicine is a good bet and are willing to up the ante to win. But how do practice owners know when the bidding cycle will wane? Precisely when is the right time to sell your veterinary practice?
Dr. Travis Meredith of Community Veterinary Partners discusses his top three performance indicators when reviewing a practice.
Sell Your Veterinary Practice? Many Considerations
Most valuators, brokers and buyers agree on the questions one should ask oneself when contemplating the right time to sell your veterinary practice. Practice owner age, tax implications, gross revenue, net returns and owner’s personal goals all come together to form a nexus of consideration, but timing shouldn’t be discounted either. At some point, the buyer’s portfolio may be complete, strategic areas may be shored up, or the market itself may have shifted. These factors can also dramatically impact what the buyer is willing to pay for a practice or if they’re interested in purchasing at all.
Industry Expert, Rich Lester on When to Sell Your Veterinary Practice
Rich Lester of Veterinary Practice Partners regularly lectures on the topic of when to sell your veterinary practice and focuses on this current buying bubble in which we find ourselves. Mr. Lester gives veterinarians insights into how corporations and smaller buying groups think when sizing up a veterinary practice for sale. This is very helpful for practice owners, since they can use this information to give their leadership more focus and ultimately increase the amount of money buyers will spend to purchase their practices. Contact Mr. Lester now with a question.
Three Hour Course: When To Sell Your Veterinary Practice
This year’s PVMA Keystone Veterinary Conference will host a three-hour course for practice owners and managers, explaining what criteria corporations and equity groups use when evaluating practices and what areas both owners and managers can focus on to increase value. The course will be followed by a complimentary online post-session course designed to help attendees retain more detailed information on practice value and value-management practices. This course provides additional CE management credit recognized by the PVMA and VHMA at no additional charge to the basic Keystone Veterinary Conference registration.
Veterinary Practice Valuation Basics for the 21st Century
While every seller’s needs may be slightly different, all sellers require one thing in common: an understanding of what makes their practice most valuable and how to manage for that goal up to the point of sale. Please join us at this year’s PVMA Keystone Veterinary Conference. The conference boasts a record number of practice management instructors and a comprehensive curriculum designed to improve practice value on many fronts. See you in Hershey!
Mr. Halow was an instructor at this year’s AVMA Veterinary Conference. Reach out for help with your veterinary practice management or educational need.
Visit the PVMA’s Keystone Veterinary Conference on the Halow Tassava website.