Total Practice Solutions Group
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
<December 17, 2018 in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month Leave a comment
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.
Tip by Dr. Dave Davenport and Mr. Nick Elliston
<November 15, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
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.
Tip by Dr. Karl Salzsieder and Mr. Rex Salzsieder
<September 17, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
If you are considering selling your practice within three years, seek advice from a professional sales broker before purchasing or leasing any new equipment.
Tip by Dr. Len Jones
<August 15, 2018 in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month Leave a comment
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.
Tip by Dr. Richard Alker
<July 18, 2018 in Buyer Articles, Buyer FAQ, Tip of the Month Leave a comment
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.
Tip by Dr. John Bryk and Dr. Bill Crank
<June 14, 2018 in Business Valuation, Seller Articles, Seller FAQ, Tip of the Month Leave a comment
TPSG’s solid relationships with practice and real estate lenders, as well as our experience and understanding of the veterinary practice industry, strengthens your chances of obtaining 80-100% of purchase price of the practice asset and 85% of the cost of the real estate from the lenders.
Tip by Dr. John Bryk and Dr. Bill Crank
<May 15, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
Price is only one component of a practice sale. The second component is terms. Terms can make or break a sale. How much cash up front? How long do you stay after the sale? What are the real estate purchase or lease terms? Call us to review your current offers.
Tip by Dr. Kurt Liljeberg
<April 16, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment
Do not comingle personal expenses with practice finances when contemplating a sale.
Tip by Dr. Dave Davenport and Mr. Nick Elliston
<March 14, 2018 in Business Valuation, Seller FAQ, Tip of the Month Leave a comment
Practice sales, even to corporations, are negotiable transactions. Commonly brokers are able to obtain a higher sale price offer, even from corporations. A broker may explain an increased earnings calculation and/or obtain multiple offers from several corporate buyers. This allows the seller to pick the highest bid offer, if they choose. Some corporations have a specific need for a specific practice location and are willing to pay more for it.
Tip by Dr. Karl Salzsieder and Mr. Rex Salzsieder
<January 15, 2018 in Seller Articles, Seller FAQ, Tip of the Month Leave a comment