Sell vet practice a veterinary practice is one of the most significant professional decisions you will ever make. It can be emotionally and financially draining. The process can also take a toll on your health and well-being. If you are considering selling your veterinary practice, you need to do your homework and work with an expert that has the ability to help guide you through the process.
The first step is to decide what you want from your sale. Having a clear plan will eliminate confusion and will allow you to negotiate the best deal possible. You may choose to sell your entire veterinary practice to a private equity investor, to a corporate consolidator or a large animal hospital. Another option is to merge with two or more small practices to maximize equipment, staff and facility. This is a common solution for smaller 1-2 DVM practices.
Preserving Your Legacy: Tips and Strategies for a Smooth ‘Sell My Veterinary Practice’ Journey
When you’re ready to sell your veterinary practice, it is important to understand the market and valuations of other similar veterinary practices in your area. A good valuation will give you a sense of what your veterinary practice is worth and will help you avoid overpricing it.
It’s a good idea to keep your clients, staff and family informed about your plans to sell. Being open and honest will help to alleviate stress and will build trust during the transition. You should also consult with your attorney and CPA about the different ways a sale can be structured. Some of the most popular options include: