In this article, we are highlighting the most critical factors that make a practice stand out from all the rest.
Undoubtedly, the number one factor that drives the sale of your practice is the location. A practice sale, like any real estate sale, is primarily driven by location. Will a buyer want to work and raise a family in the area? A buyer’s number one factor is the location. They want low crime, excellent schools, recreational opportunities, local entertainment, and shopping. (more…)
< Posted on May 17, 2019 by BCrank
in Seller Articles, Seller FAQ
Tagged selling a vet office, selling your practice
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Every day veterinarians sell to corporate buyers with sales prices over one year’s gross, however, using a professional consultant or a TPSG Broker can result in a sales price of $250,000 or more over the original corporate offer. This can net many times over what a second opinion may cost and is well worth the effort.
Tip by Dr. Karl Salzsieder and Mr. Rex Salzsieder
< Posted on May 15, 2019 by KurtLiljeberg
in Seller Articles, Seller FAQ, Tip of the Month
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We believe that making a conscious decision regarding the timing of selling your practice is much more effective than the “waking up one day and thinking ‘I’ve got to sell my Practice right now’” approach. So let’s look at those things that will allow you to maximize your practice value, by planning ahead 3 years down the road. Here is a checklist of items that are important to consider and accomplish 3, 2 and 1 years before putting your practice on the market. (more…)
< Posted on May 2, 2019 by ralker
in Buyer Articles
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By Dr. John Bryk
Total Practice Solutions Group® (TPSG) are practice owners who understand the demands of veterinary medicine. We are part of a nationwide team providing not only brokerage services for sellers but also valuations and assistance with loans for buyers.
Our network of attorneys, accountants, lenders, and insurance agents will help sellers and buyers in the transition process. (more…)
< Posted on April 25, 2019 by JBryk
in Buyer Articles
Tagged selling your practice
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When selling your practice, the Accounts Receivable (AR) can be an issue. As a rule, AR goes with the practice. If you have a high AR, try to reduce the amount prior to selling your practice in order for a smoother transition.
Tip by Dr. Len Jones
< Posted on April 15, 2019 by KurtLiljeberg
in Seller Articles, Seller FAQ, Tip of the Month
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There is no doubt that today’s Veterinary Practice sales market has evolved into a world of complexities and a rapidly changing playing field. The simplicity of choosing a practice you want to buy, securing financing, and then closing the deal rarely exists in today’s market. The multiple options in financing, the influx of corporate consolidators, the array of lab/vendor agreements with practices and the inventory of available practices on the market have all created an environment that requires both patience and persistence by buyers. (more…)
< Posted on March 21, 2019 by admin
in Buyer Articles
Tagged Practice Acquisition
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If you are considering selling your practice, but leasing the Real Estate to the buyer of the practice, it is important to determine what liens the Mortgage holder (if there is one) has on the practice. It is not uncommon for the Bank to have a blanket lien on all the assets, not just the building. This situation would prevent the buyer of the practice from obtaining a loan for the acquisition of the practice.
Tip by Dr. Richard Alker
< Posted on March 19, 2019 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month
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Lenders can confidently provide financing for practice goodwill if seller’s have a clean Profit & Loss statement. The best way to achieve a clean Profit & Loss statement is to discontinue paying personal expenses through your business and declare all income on your Business Tax Return. For every dollar you increase in declared net income you will receive four to five dollars in practice value.
Tip by Dr. John Bryk and Dr. Bill Crank
< Posted on February 14, 2019 by KurtLiljeberg
in Seller Articles, Seller FAQ, Tip of the Month
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Maintaining growth is vital in getting the best price for your practice. Showing growth on your current P&L minimizes risk for the buyer and allows for better financing. If growth is not maintained during the due diligence phase of closing, owner holdback will be significantly influenced.
Tip by Dr. John Bryk and Dr. Bill Crank
< Posted on January 15, 2019 by KurtLiljeberg
in Seller Articles, Seller FAQ, Tip of the Month
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If you are looking to sell your practice or obtain a practice valuation in early 2019, send all your financial information to your CPA as early as you can so your business tax returns can be completed as soon as possible.
Tip by Dr. Kurt Liljeberg
< Posted on December 17, 2018 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month
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