by omniadminMarch 9, 2018 Practice Sales, Practice Transtions, Seller Articles, Seller FAQ, Selling a Practice0 comments
Preparing your practice for sale
by Jim Vander Mey Practice Transition Advisor Whether you are approaching retirement age or just thinking about a transition, there are several things you can do to prepare your veterinary 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...Read MoreThe Perfect Transition Storm
For those of you that have been around for a few years, you have probably noticed that the economy is cyclical. Factors such as interest rates, employment levels, consumer spending and even retirement rates ebb and flow. This flux creates optimal opportunities to buy and optimal opportunities to sell. Currently, the market for a practice transition is a seller’s market. This means...Read MoreKey Items Buyers Look For In A Practice
It’s probably been a while since you bought or started your practice. You may have just found a location and put up a sign, or bought the practice that you went to as a kid. You did not have a plethora of practices to look at, different practice management systems, new technology, or even a wide variety of practices or procedures to choose from the way graduates do today. Dentists...Read More2017 – It’s a Wrap
The holidays are an interesting time of year. Whether you celebrate Christmas, Hanukah, Kwanzaa, Rohatsu (look it up) or another holiday, we all are wrapping up the current year and beginning to think about the new year on or before January 1. You may have a process or a traditional way of doing this. Reviewing your 2017 goals versus what you actually accomplished and then setting...Read MoreSelling Your Dental Practice? It’s Not As Easy As It Looks
I’m sure many of you have sold a car, boat, or a house by yourself. For the most part, cars and boats are pretty simple to sell. Even selling a house only involves a couple of pieces of paper, an escrow agent, and a few other steps. But selling your practice is another ballgame. Emotions get involved as you are attached to your patients, staff, and heck, you built this baby! There...Read MorePatient Insurance – Use It or Lose It
As we approach the end of the year, you should contact your patients and let them know that they should look at their insurance to see if they have available funds to complete procedures, or fit another cleaning in before the end of the year. There are standard patient letters that many consultants use to send out to patients. Or, you can use one of the internet based patient...Read MoreWhen is It Time to Sell?
There are a number of reasons that doctors sell their practices. Some are good reasons, like when you have reached a point where you have enough money to live comfortably the rest of your life while you are still healthy. Other situations may not be good. Those can include failed health, a practice that is quickly losing production, or the worst-case scenario — you suddenly...Read MorePractice Ownership is Declining
In the September 2017 subscription of JADA, there is an article titled “Practice Ownership is Declining” by Marko Vujicic, Ph.D. As the title reveals, the article is about the decline in practice ownership by dentists. If you have not read the article, I highly recommend it. The statistics in the article support what we are seeing in the market for dental practice and some of the...Read Moreby omniadminSeptember 18, 2017 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
Are You Within 5 Years of Selling Your Veterinary Practice?
Here are 10 Things To Do To Prepare For A Transition By Rod Johnston, MBA, CMA and Jim Vander Mey, CPA, ABI You have had a great career and now you are thinking about selling and transitioning out of your veterinary practice. You would like to get the best value for your practice. Do you just walk away? Being prepared can not only help you get the best price, it will help ensure a smooth...Read Moreby omniadminSeptember 14, 2017 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
