Results for "Tip of the Month"
Practice owners need to consult with a TPSG broker three to five years before they want to depart from working at the practice because more buyers (especially corporate buyers) want sellers to stay at least part time for two to… Read More
When working with a corporate buyer, there are many things to consider other than sales price. Be sure to consult a professional like TPSG to secure a suitable long-term lease. The lease is a very important part of the overall… Read More
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
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.
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.
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
Use a broker even if you have buyers because some corporations are looking for smaller practices. Using a broker will get you more than the original offer. Tip by Dr. Karl Salzsieder, Mr. Rex Salzsieder and Mr. Nick Elliston
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… Read More
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… Read More