Total Practice Solutions was founded by Dr. Len Jones in 2005.
In 2002, after selling his practice, Dr. Jones started his brokerage career with a veterinary brokerage firm as an associate broker. In 2005, Dr. Jones started his own brokerage firm under the name of Total Practice Solutions. In the spring of 2006, Dr. George R. Sikora and Dr. Dave Davenport came on board, and the name was changed to the present name of Total Practice Solutions Group. In the spring of 2009 Dr.’s Kurt D. Liljeberg, Richard Alcker, and John Bryk joined the group.
Veterinarians spend many years developing relationships with staff, clients, and colleagues. During their practice years, they work very hard at developing surgical, medical, and management skills. Unfortunately, the one area of knowledge and relationships that are not easily developed is in practice transitions. This is because many or most veterinarians are on an island when it came to information and skills regarding this subject. We at T.P.S.G. feel a need to deliver information about veterinary practice transition to our colleagues. We feel one way to personally reach our colleagues in need of this important information is through seminars that deliver basic educational material on selling a veterinary practice and buying a veterinary practice. Thus, we consistently partner with lending institutions, and pharmaceutical companies to deliver through seminars information regarding this important topic.
We realize for most practicing veterinarians, the sale or buying of a veterinary practice will be one of the most important financial decisions they will make in their lifetime. Thus, the need for information, consultation, and other professionals support is needed when involved in this life altering decision.
We specialize exclusively in the veterinary brokerage business. Our brokerage services include, but are not limited to:
The valuation and Sales Process with T. P. S. G:
TPSG brokers are experts in the brokerage of veterinary practices. The corner stone of our business is our fair and realistic valuation process which results in appraisals that work for buyers and sellers. We begin the valuation process by visiting the practice and surrounding community. There we study demographics, veterinary hospital density, staff, management practices, and many other factors that will enter into the formulation of a fair and accurate capitalization rate.
We do this because our valuation encompasses all factors that should be taken into account when appraising a practice. That’s why TPSG brokers always do an on site visit when asked for a practice valuation.
We realize the asking price is determined by assimilation, analyzing, and compiling not only all financial information but demographic information as well. The asking price must be fair, reliable, and defendable along with being acceptable and understandable to both seller and buyer and consistent with a marketing goal. After the valuation process by TPSG is completed, we then proceed to market. There the practice is presented to buyers in a consist and organized marketing book. Advertizing is national, regional, and local. We use our buyer database to put qualified buyers with sellers in their respective geographic areas. All sales are handled with the upmost confidentiality for both seller and buyers.
After a fair sales price is negotiated with the buyer we move the process forward by providing the following:
(1) help with legal and document support
(2) finding financial assistance for the buyer
(3) removal of major and minor clog in negotiations
(4)arranging and helping to insure a smooth practice transition process for practice takeover
(5)helping buyer or seller find appropriate legal financial and accounting professionals if needed
(6)and getting all parties to the closing table in a orderly time frame.
(7) These and numerous other points are handled on a daily basis when coming close to closing.
In summary TPSG professional brokers have the training, knowledge, experience, and professional support to take a veterinary practice from valuation through marketing to closing. We can identify with the concerns of all parties involved because, as former practicing veterinarians ourselves, we have been on both sides of the table.