Blog

Seller Carrybacks and Veterinary Practice Transitions Today

You’ve heard the term “Seller Carryback,” but what does it mean? Seller carryback financing is when the seller of a given property, or in this case, a seller of a veterinary practice and assets, acts as a lender for the buyer if a conventional bank will not offer the full amount that the buyer needs to close the sale. Years ago, it was commonplace for a retiring veterinarian to act as the...Read More

Seller Carrybacks and Dental Practice Transitions Today

By Jen Bennett, Practice Transition Advisor You’ve heard the term “Seller Carryback,” but what does it mean? Seller carryback financing is when the seller of a given property, or in this case, a seller of a dental practice and assets, acts as a lender for the buyer if a conventional bank will not offer the full amount that the buyer needs to close the sale. Years ago, it was commonplace for a...Read More

5 Practice Transition Pitfalls and How to Avoid Them

A successful transition involves preparation and knowledge. There are numerous things you should do to get your practice ready to sell and making even one mistake can cost you. Here are five transition pitfalls and how to avoid them. Letting your production and profitability go down prior to selling. We have seen many practices that were producing $300k to $500k a few years prior to contacting...Read More

What is My Practice Worth?

By Megan Urban, Practice Transition Consultant Have you ever said something like this? “In the 90’s I was producing over $1.5M. Five years ago I was producing $900,000. My practice must be worth at least $1.0M and this area has huge potential.” Value is not based on “long ago past” numbers nor “potential” numbers. Buyers don’t pay for what you did over 3 years ago nor potential. They have to...Read More

Tips for Managing Your Team When Acquiring a Veterinary Practice

When you purchase a veterinary practice, you aren’t just responsible for the building and equipment, but you also have a big role to play in making sure that new and existing team members come together smoothly. This can be a delicate process and quite difficult to navigate on your own, but there are a few tips you can follow to make everyone’s lives a lot easier. Value Your Acquired Team...Read More