January 21, 2016 by omniadmin Practice Sales, Practice Transtions, Seller Articles, Selling a Practice 0 comments
Selling Your Veterinary Practice Does NOT Mean You Have to Stop Practicing
Whether you have owned your veterinary practice for 40 years, or owned it for 5 years, selling your practice does not mean you are done practicing. We often meet with doctors who are sick and tired of managing their staff, doing the bookkeeping, playing the games with the government agencies, dealing with the ups and downs of the economy, changing environment of the profession and on and on. The doctors are about to crack, but think they cannot yet sell their practice as, according to their CPA or financial advisor, are not yet financially ready to retire. We counter this by asking them “who said you need to retire?” You can “harvest your equity” and either work back in the practice, or go work for another practice. What the CPA’s and financial advisors may not see is that your veterianry practice collections numbers are going down. Or, your blood pressure is sky rocketing due to the above mentioned challenges of managing your practice to the point of a heart attack coming right around the corner. If you have a good amount of equity in your practice, we can sell your practice and you can put the cash in the bank and work as an employee until you are ready to retire in 5, 10, 20 years, or as long as your heart desires. Transitioning out of your practice may be the way to enjoy your profession again.