What’s the Difference Between Veterinary Practice Brokers and Advisors?

Veterinarians know how to take care of animals, but the nature of their practice means that they may run into trouble when trying to sell their clinic. Veterinary practice brokers and advisors can help. The word “advisor” may sound familiar, but you might wonder, “What is a veterinary practice broker?”

Why Use a Broker to Sell Your Practice?

Veterinary practice brokers act as the intermediary between you and potential buyers. A broker takes time to learn about your clinic and its growth potential, then helps you find the best ways to present that information. Brokers also have teams that work to ensure you get the most value possible by digging through your financial information and reworking it.

One of the best qualities of hiring a broker to sell your veterinary clinic involves the smooth transition of your practice into their ownership. Brokers handle all the red tape, enabling you to relax while experienced hands take the wheel.

What Type of Business Is a Veterinary Practice, and Why Is That Important?

Veterinary practices function as a personal service, often with a single practice owner, a practice manager, and various veterinarians or support staff. During the sale of your clinic, some positions may remain the same as when you owned it. New practice owners may choose to make staffing changes, though they’ll usually hold onto your practice manager.

What Does a Veterinary Practice Manager Do?

Veterinary clinics have a practice manager who handles day-to-day responsibilities, including everything from managing inventory to scheduling client appointments. Asking, “What is a veterinary practice broker,” hints that you, the clinic owner, should work with your practice manager to prepare documentation for the new owner. Your practice manager may also work with the broker to ensure that all financial and other necessary information for your veterinary clinic makes its way into the transactional paperwork.

Why Are Corporations Buying Veterinary Practices?

Prospective buyers in the veterinary industry often consist of corporations. These businesses recognize the opportunity that your practice offers them, making your clinic highly attractive. They will often pay your asking price, seeing the clinic purchase as an investment that they can grow.

While a clinic advisor can guide you through the process, the hands-on approach by veterinary brokers helps you find the maximum value to present to corporate buyers. From discovering and compiling financial information to assisting with the sale, your broker can provide you with excellent assistance.

Sell Your Veterinary Practice at the Highest Possible Profit With Total Practice Solutions Group

If you’re considering selling your veterinary clinic, you may ask, “What is a veterinary practice broker?” The information above should have answered that question, along with other queries you may have about selling your veterinary practice. While an advisor can help you with some aspects of the transaction, brokers take care of the process for you every step of the way.

Do you want to sell your veterinary practice with help from experienced vet brokers? Call Total Practice Solutions Group at (844) 908-2967 for professional vet broker services.

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