Three Things To Consider Before You Sell Your Veterinary Practice
As retirement or new business endeavors loom on the horizon, it’s important to start forming a solid exit strategy. If you’re looking to sell your veterinary practice, you want to make sure that your choice of buyer doesn’t impact your legacy. At Apollo Veterinary Medical Hospitals, we want to share three critical things to consider before you sell.
The clients that you have amassed throughout the years are among your most important assets. In fact, for many practices, existing patients are undoubtedly the most valuable assets. Make sure that your buyer is adept in correctly pricing their offers based on the size and scalability of a customer base. This includes both the clients that you have and the growth potential according to the dynamics of your area.
Your workers are also an invaluable part of this equation. After all, it takes time and a lot of effort to source trained talent. You should be compensated for the investments that you’ve made in this area as part of your sale. Looking for buyers who recognize the value of your team also ensures that these professionals will get treated well when you’re no longer at the helm of your practice.
Your legacy is the most important thing to consider. After all, this is one thing that people will remember about you long after you’re gone. If your practice becomes a popular and customer-oriented veterinary medical hospital that’s associated with a strong and thriving brand, this will bode well for your legacy. Conversely, if you sell to an underqualified buyer who cuts corners, mistreat your staff and patients, and provides substandard service, all that you have worked to build will be diminished.
We buy veterinary businesses all of the time. The companies that we acquire experience remarkable growth and they maintain the same value that their clients have grown used to. We can help your preserve and bolster your legacy. If you want to know more about who we are and what we do, give us a call today.
