When Should I Sell My Vet Practice?

As a sell my vet practice , you have spent your life devoted to caring for animals. Now, as the time approaches to retire, or perhaps reinvent yourself, you may be weighing whether or not to sell your practice. While selling a business is often a complex endeavor, it can be made more manageable with some advance planning. Here are a few key points to consider when it comes time to sell your vet practice/clinic/hospital.

Considering the many variables involved, determining when to sell your practice is a major decision that can affect you, your family and your long-term career prospects. It is important to think through the process and consult with professionals who can help guide you and protect your interests. While it is tempting to save money by eschewing legal assistance, this can be a costly mistake that could lead to financial calamity down the road.

Behind the Scenes: Understanding How a Veterinary Practice Broker Facilitates Sales

Another key issue is the prevailing state of the economy, which can impact how much you can expect to receive when you sell your practice. As such, it is important to stay on top of your finances and regularly update your profit/loss statements. You can also seek out the advice of an accountant, appraiser or practice sales advisor to help with the valuation of your practice.

Oftentimes, veterinarians decide to sell their practice to an associate in the practice, or even to an investment partner. This is generally a good idea, as the associate will be familiar with day-to-day operations and will likely have close relationships with clients.