When it's that time to sell your veterinary practice, make a clean break. When contemplating the sale of your veterinary practice, consider this important fact:
According to veterinary accountant Gary I. Glassman, CPA, Potential purchasers of a vet practice may be in your surrounding area. I suggest you make a list of potential buyers close by and contact them to determine if there is any interest in acquiring your practice. The profession is dealing with market saturation in many geographic areas, and there are too many practices duplicating fixed overhead costs. These lead to financial inefficiencies that hold down practice valuations and purchase prices. A practitioner in your area may recognize these inefficiencies and may be willing to pursue a purchase. It may be a close colleague that is out of space and looking to expand, or your practice facility could provide the perfect professional leap and add to practice sales volume as well. One should never minimize the logistics of combining two hospitals together. It can be difficult merging two practice staffs and clients together especially when there are different and distinct practice cultures. These issues must be explored and resolved before considering a move in this direction.
Call Gary to discuss issues related to selling your veterinary practice at 203-468-8133.
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