Timing is everything. If you would have invested $1,000 in Nike stock at its initial public offering in 1980, your investment would be worth over $190,000 today. The same can be said for many other stocks or investments. You see, the tides of the economy ebb and flow. But how does that relate to your veterinary practice?
We have been experiencing a perfect storm of sorts over the past...Read More
There are many reasons why veterinary practices are put up for sale. Some of the more common reasons actually have little to do with the practice’s general performance. For example, many veterinarians discover that they need to sell for health reasons or personal concerns, such as divorce or partnership issues. While a business downturn might prompt many veterinarians to sell, economic...Read More
You’ve graduated from veterinary school so naturally, you’re ready to get your feet wet and start practicing. Nearly every veterinarian will be an associate at the beginning of their career and with that comes the dreaded associate contract. You found a great associate opportunity and you’re eager to start collecting paychecks. But before signing that contract, particularly the noncompete...Read More
By Rod Johnston, MBA, CMA and Jim Vander Mey, CPA, ABI
In my experience, sellers get concerned with the “correct” time to tell their team about the transition. We recommend informing them when all documents or some are signed and there is no doubt the sale will go through. It may be 2 weeks or 2 days before closing, it depends, and your transition advisor will assist you.
If you tell your team...Read More
By Corey Young, Practice Transition Advisor
Choosing between buying an existing practice and doing a start-up practice can be one of the biggest decisions of your life. Here are four considerations and two suggestions for when you are contemplating.
The four considerations:
Market Saturation – How many veterinarians are practicing in the area you are considering? Hardly any? One on every...Read More