How to Buy a Veterinary Practice- A Step by Step guide to Buying a Veterinary Practice
Updated: Sep 13, 2021
STEP 1: MAKE A PLAN
When considering buying a veterinary practice. you should asses your personal needs & wants such as:
Location: Where do I want to live geographically? Am I licensed to practice there? Can I buy the practice where I am already employed?
Type of practice: Do I want a small animal practice, emergency practice or a specialty practice?
Size of Practice: Do I want to be a Solo Doctor? Do I want a practice with associates in place to minimize my work schedule?
Research the current Market: How much are veterinary practices selling for? Learn what to look for when buying a veterinary practice.
Income: How much do I desire to earn annually? Can I afford to buy a veterinary practice for sale? (Spoiler alert-yes you can!!)
STEP 2: START SHOPPING
There are a wide variety of veterinary practices for sale including individually owned practices seeking an individual buyer, specialty practices and distress Sales (priced to sell quickly.) These veterinary practices for sale are grossing anywhere between $500K-$4 million annually. Whether you're looking for a veterinary practice for sale in Georgia, a vet practice for sale in North Carolina or even California, your practice sales search begins on our user-friendly vet practice sales website! Once you find one you are interested in, you will need to fill out an online Confidentiality & Non-Disclosure Agreement. We will send you a practice information package the same day via email; this is especially informative to help find the perfect fit for you. Click Here to visit the Practice Sales Advisors website to see current veterinary practices for sale.
STEP 3: VETERINARY PRACTICE APPRAISAL
If the veterinary practice for sale is listed with PSA or an accredited broker, it will have a current veterinary practice evaluation. Whether the veterinary practice for sale is listed with us or another firm we'll gladly explain the excess earning method valuation process with you. We feel it's imperative that you as the buyer understand how the practice was appraised thus ensuring you're comfortable with making a future offer. It will also help you gather insight into the management aspect of veterinary practice ownership.
STEP 4: MAKE DREAMS A REALITY!
Once you've identified your perfect fit, it's time to rely on the expertise of your trusted veterinary practice broker. From making an offer, to contract negotiations, as your veterinary broker, Practice Sales Advisors handles it all! Each step is outlined & explained to you; making the daunting task of purchasing a practice (typically while working full time) a reality.
STEP 5: TRANSITION ASSISTANCE
PSA believes practice ownership shouldn’t be sink or swim! After the veterinary practice sale is final, we're still here with you each step of the way ensuring the practice’s long-term success. We offer unique veterinary business advisory services such as free annual valuation updates to all PSA clients, custom checklist and even hands on services assisting you in proper accounting set up.