Blog
Broker Tip of the Month – October 2020
Practice owners wanting to quit work must plan ahead for their practice transition and/or practice sale a minimum of 3 years before quitting time. Buyers, especially corporate buyers, want sellers to work 2 to 3 years after the sale. If… Read More
The Nuances of Veterinary Financing and Buyer Pre-Approval
With interest rates at an all-time low, it is a great time to buy a practice. In this article, I will explain what is expected of a buyer before their offer can be accepted to purchase a veterinary practice. To… Read More
Broker Tip of the Month – September 2020
Owners anticipating a practice sale within three years need to have simple and clear tax returns, so the buyer does not see taxable income low from non-operating expenses. If low income is because the doctor included the farm, ranch, or… Read More
Broker Tip of the Month – August 2020
Owners should obtain regular valuations. Having a professional valuation done at least every three years lets you know your practice’s current value and what could be done to enhance it. Three years is also a good length of time to… Read More
How Has the COVID-19 Pandemic Affected the Market for Veterinary Practices?
It is obvious that there is a lot of uncertainty right now regarding what the near future will look like, much less what things will look like a year or more down the road. It is also apparent that veterinary… Read More
Broker Tip of the Month – July 2020
It is unfortunate that so many businesses have been negatively impacted by COVID-19 nationwide. However, we have realized how resilient our veterinary profession has been in most parts of the country. This resiliency reinforces TPSG’s position that buying the right… Read More
PPP Loans and Their Effect on a Veterinary Practice Sale
Veterinary Practice Sales and Practice buy-ins are affected by the COVID-19 government support Payroll Protection Plan practice loans. The government’s COVID-19 Payroll Protection Plan (PPP) loans (or possibly grants) have created questions for veterinary practice sellers and buyers that must… Read More
Broker Tip of the Month – June 2020
Buying A Practice With Real Estate: Once the letter of intent is signed, the buyer is required to have a building inspection, a real estate appraisal, and based on the bank’s requirements, a Phase One Environmental Study. These inspections must… Read More
Veterinary Practice Ownership is Still a Good Decision Today
Buying a practice is still a smart move even during the COVID-19 pandemic. There are a few extra things to consider though. First, how have the practice restrictions set in place by the state’s Governor impacted practice revenue compared to… Read More
Broker Tip of the Month – May 2020
Who Gets What at Closing: At closing, the buyer will receive all practice equipment and a specified amount of inventory. The seller will keep the balances of all personal and business bank accounts. Accounts receivable handling is determined by the… Read More