Happy New and Improved Year
Happy New Year! Is this the year you finally take the plunge and buy your own practice? Or are you content with being an associate working for someone else? Here are a few reasons why 2019 should be the year you become a practice owner: Interest rates are starting to move up. The past few years have rewarded buyers with interest rates in the 4% to 5% range and some with as low as...Read More5 Things to Consider When Purchasing a Practice
Congratulations! You’ve finished 2018, another year as a veterinarian. You’ve gained more experience as both a veterinarian with clinical skills as well as observing a practice in operation. We hear general rules of thumb about how many years you should have under your belt before you own a practice. Typically, the number is five years. We’ve seen in practice that the number really...Read MoreTop Ten Things To Know When Buying A Dental Practice
When you buy a house, there are certain key things you check to make sure it’s a good, solid house. Those include the condition of the roof, foundation, electrical, plumbing, etc. Well just like buying a house, there are key things to look for when buying a practice. Here are a few I suggest you look at to make sure you are getting a good practice: Cash Flow – This is how much cash...Read MoreBuying A Practice – You Don’t Know What You Don’t Know
Do you know everything you need to know when you’re looking at buying a practice? There are so many different things that require expertise to evaluate a practice. There over 70 things you need to do in order to get the practice ready to close so you can start practicing. There are an overwhelming amount of decisions to make during the process of buying and setting up a practice. It...Read MoreAre There Skeletons in the Practice’s Closet?
Given it’s almost Halloween, I thought we would cover a scary topic when purchasing a practice – Skeletons in the Closet. If you have purchased a practice, or are about to purchase a practice, the skeletons in the closet are those unknown things that can come back and BITE YOU! after you have taken ownership and moved in. The first one to look out for is staff embezzlement. You can...Read MoreQuestions Frequently Asked by Dental Practice Buyers
By Rod Johnston, MBA, CMA Here are 10 of the most frequently asked questions we get when buyers come to us looking for a practice to purchase: Q-1: When should I buy a Dental Practice? A-1: Most buyers are out of school at least two years. This allows the dentist to increase his hand speed and allows them to be an associate in a practice or two where they can see how a practice is...Read MoreMy First Practice
If you have been out of veterinary school for a few years, you may be contemplating owning your first practice. But, for one reason or another, you have not taken that first step. Maybe it’s the fear of not knowing the process of what you need to do to buy or build a practice. Or, it could be you are afraid you may not have what it takes to be a practice owner. Or, possibly, you believe...Read Moreby omniadminSeptember 12, 2018 Buyer Articles, Buying a Practice, Practice Sales, Practice Transtions, Seller Articles, Selling a Practice, Using a Professional, Valuation0 comments
From the Horse’s Mouth
Each year one of the largest corporate veterinary practice owners holds a one-day conference exclusively for veterinary practice brokers. At the conference, they discuss, amongst many other things, how their company is different than other corporates, how they value veterinary practices, and trends in corporate buying. It’s an interesting meeting to get the “state of the union” from a...Read Moreby omniadminSeptember 12, 2018 Buyer Articles, Buying a Practice, Practice Sales, Practice Transtions, Seller Articles, Selling a Practice, Using a Professional, Valuation0 comments
