When you work in the sell your veterinary practice industry, it’s easy to feel burnt out. The hours are long, clients can be demanding and emotional, and the financial cost of running a practice is high. It’s no wonder that some veterinary owners start looking for an escape route by selling their business.

Selling your veterinary practice is an important life-changing event that can impact not only your day-to-day job but also your personal career and health. It’s important to prepare for this transition well in advance. This includes establishing a strong network of support, identifying and preparing for potential buyers, and making sure you are financially and emotionally ready to make the move.

From Stethoscope to Sold Sign: Strategies and Tips for a Seamless Veterinary Practice Sale

One of the most important things you can do is to hire a professional veterinarian appraiser who will help you accurately value your independent practice for sale. This will enable you to attract interested parties and ultimately get the best possible deal.

A reputable valuator will take into consideration factors like gross revenue, client base, location, and future earning potential when determining your value. Buyers will also be leery if your business has a history of sudden staff or veterinarian turnover, as this can indicate a stressful work environment.

Once you have a solid valuation in place, it’s time to consider the details of your sale. The two primary ways to sell a veterinary practice are through an asset or stock sale. In an asset sale, you transfer all tangible and intangible assets including liabilities to the buyer at closing. In a stock sale, you transfer ownership of shares in your veterinary business to the buyer.