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.
< Posted on March 19, 2019 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ
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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.
< Posted on February 14, 2019 by KurtLiljeberg
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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.
< Posted on January 15, 2019 by KurtLiljeberg
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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.
< Posted on December 17, 2018 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ
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When considering a corporate sale, make sure to contact your local TPSG representative. They have experience working with these organizations and can provide you with the tools you’ll need to get a higher price.
< Posted on November 15, 2018 by KurtLiljeberg
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Many sellers today are being contacted directly by corporate buyers. They are getting very good offers above what most non-corporate buyers could offer. When receiving offers from corporate buyers, it is best to get a broker to help negotiate the sale. Almost every corporate sale we have been a part of, we have received higher offers for the seller, in excess of any broker fees.
< Posted on September 17, 2018 by KurtLiljeberg
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If you are considering selling your practice within three years, seek advice from a professional sales broker before purchasing or leasing any new equipment.
< Posted on August 15, 2018 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ
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If you are in the market to buy a Veterinary Practice, it is important to understand that we have a very active market right now. Good practices sell fast. You should be prepared to move quickly on opportunities that fit your ideal practice. It is a good idea to stay in close contact with the TPSG Broker in the area you are looking, so that you might get 1st mover advantage on opportunities that are coming to market.
< Posted on July 18, 2018 by KurtLiljeberg
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The best time to improve the value of your practice is now. Keep good financial records, report all of your income to maximize the value of your practice, keep your office and equipment well maintained, and continue to grow your practice. It is very important to continue to show growth even after your practice is listed on the market.
< Posted on June 14, 2018 by KurtLiljeberg
in Business Valuation, Seller Articles, Seller FAQ
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