Selling a vet practice comes with a lot of different conditions, pros, and cons, depending on the terms of the agreement. You must make the most out of the sale by framing a market valuation and purchase agreement that favors a financial gain. It is also prudent that you review the factors driving you towards the sale to know what you have to gain and watch out for any possible losses.
Pros and cons of selling a veterinary practice
There is a constant drumbeat on the decisions you make when selling to a corporate business. Many clinic owners are happy with the financial rewards and freedom that come from the independence from the sale. In contrast, others worry they are cutting themselves off from significant benefits by sharing them with another entity. The good news is that the corporate veterinary service has grown exponentially in the last couple of years, which means there must be some obvious benefit from this kind of agreement. The following are the main benefits of selling the vet practice to Vet’s Best Friend.
Pros of selling the vet practice
Better marketing results
How to sell your practice? A corporate buyer has seasoned experience in the industry and will therefore know how best to promote your business. They will typically have an existing program of turning ideas into accurate conversions and implementing changes that better customer satisfaction rates. Our team is your best partner when you want to introduce a new branch into the existing business and keep a consistent flow of clients all through the year.
Superior accounting support
Most vet entrepreneurs went into business because they have a passion for working with animals and do not want to be bogged down by the extra work of numbers. The corporate buyer is different because they are prepared with both the animal service and the technical skills needed for the job. You want a buyer that will handle all the accounting details such as reports, writing cheques, reconciling payments, preparing statements, and the core of the business; taking care of animals.
Excellent customer support
How often have you wished you had more staff to handle the extra work as you tend to your family or lifestyle? Running a small business weighs a lot of stress on the individual, and it is better if you have extra human resource support to assist with taking calls, returning emails, and booking appointments.
Our firm has departments for each section of the business, and hence more hands to do more work and bring in more income. The staff assists one another in taking inventories at all working hours and ensures the practice is returning as much as it should.
Easy financial plans
The veterinary practice acquisition buyer has enough resources to smooth out the financial transactions. We have invested enough tools in recording all necessary details, analyzing different financial angles, and providing a visual for you to realize the highest growth and success through the veterinary practice sale.
We encourage veterinary owners that are interested in making money and freeing their schedule to contact us online, so we can discuss more on how to sell your veterinary practice and start the exit strategy with a veterinary practice appraisal.