As a Practice owner, when you lease equipment from a vendor, be aware that the vendor files a UCC document. This is just like a lien. When you pay these leases off it is important to ask the lease company… Read More
There are 4 major categories of expenses that are driving your veterinary practice’s bottom line. These are Cost of Goods, Cost of Staff, Cost of Occupancy, and Cost of Veterinary Staff. We will look at each of these individually to… Read More
Go Hybrid! Owners who qualify to sell corporate may not have to decide between a private or corporate buyer. With Hybrid Sales, associates can partner with the corporation. Tip by Dr. John Bryk and Dr. Bill Crank.
A veterinary practice must be ever-changing if it’s going to keep pace with client expectations. This applies to both medical technology – which must include, at the very least, the basics of an in-house laboratory and digital radiology for medical… Read More
Sellers should avoid huge inventory counts at closing. In a well-managed practice, there should be no more than two weeks supply of inventory. Next-day shipping and computer tracking software eliminate the need to stockpile three months of expensive medicines and… Read More
Be careful when entering into long term equipment leases before putting your practice up for sale. They can lower your cash flow and be a financial burden to your buyer. Tip by Dr. Kurt Liljeberg.
As we talk to buyers and sellers, we continually clear up misconceptions around the buying and selling of veterinary practices. In this short article we tackle four buyer-side and four seller-side myths surrounding the practice transition process and provide our… Read More
In preparing for an exit strategy for selling your business and Real Estate, we at TPSG, are commonly asked the question, “Should I do a facelift on the facility?” Does it make sense economically? In response to this question, your… Read More
Get 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 start planning… Read More
In the growing community of corporate veterinary hospitals we often get asked what they are looking for in acquisitions. Many of these entities are targeting practices with a specific EBITDA, which stands for earnings before interest, taxes, depreciation, and amortization.… Read More