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Results for "Seller Articles"
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
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
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
Veterinary Practice Resilience and COVID-19
We are certainly experiencing events that no one could have ever predicted. Everyone in the entire country and the world has been affected by this terrible virus called COVID-19. There is still much to learn about COVID-19 and much speculation… Read More
The Due Diligence Process: What Should a Seller Expect?
Does the buyer of a veterinary practice have the right to know everything there is to know about your practice if you are selling it? The answer is “mostly, yes.” It is best to be prepared for a full disclosure… Read More
Broker Tip of the Month – March 2020
Consolidators are requiring sellers to replace their production prior to completing their employment terms. With a shortage of veterinarians, this can be a difficult task. Call your local TPSG representative to establish a plan for a quick exit. Tip by… Read More
Selling Your Veterinary Practice: Preparing Your Exit Strategy
There are many items to consider when contemplating the sale of a veterinary practice. What price do I ask? Do I sell to the corporate or private sector? How do I tell my staff? If you’re thinking about selling… Read More