Blog

Preparing Your Practice To Sell

  Whether you are approaching retirement age or just thinking about a transition, there are several things you can do to prepare your practice for sale.  Doing these things may help eliminate headaches, increase your sales price, or reduce your costs.  Here are a few tips:  Assess your equipment.  Upgraded practices sell faster.  If you are more than five years away from retirement, I...Read More

Influx of Sellers Hitting the Market

  I have heard from other practice transition consultants, bankers and attorneys who are telling me they are busier than ever.  We, Omni Veterinary Practice group, are experiencing the same thing with more listings and more practices under contract than ever before.  So, why are so many veterinarians deciding now is the time to sell?  I believe it’s for a number of reasons: Interest...Read More

Analyzing a Lease in a Practice Aquisition

  Often times, a potential buyer of an existing practice will simply take on the existing lease that the seller had with the landlord.  The seller will do what’s called a lease assignment and assign the lease over to the buyer.  But, did you know that there may be a chance you can renegotiate terms in the lease even though there may be a few years left to the end of the term? When you get...Read More

Current State of Transitions Market

Markets ebb and flow like the tide. In 2010 when the economy was down, no one was selling or buying practices. Banks were a bit more speculative on lending to buyers. Patients were more worried about their finances and paying their mortgages than getting their work done.  Corporate practices were hesitant about growing their footprint.  The economy was down and it was a tough couple of...Read More

5 Red Flags to Watch for When Buying a Practice

There are a few things you should be wary of when buying a practice.  These are not necessarily deal breakers, but things to bring up and analyze with your team when you are buying a practice. ALL THE TREATMENT IS DONE – You can run an unscheduled or untreated treatment plan report that should give you an idea of treatment on the books.  You can also look at the number of true active...Read More