February 29, 2016
by omniadmin
Business, Practice Management, Practice Sales, Practice Transtions, Seller Articles, Selling a Practice, Using a Professional, Valuation
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The Importance of Veterinary Practice Valuations
Knowing the value of a Veterinary practice is a vital part of owning and running one. Knowing when to and then actually obtaining Veterinary practice valuations; however, can be complex and stressful. The experts at Omni Veterinary Practice Group understand how confusing the process can be and work hard to ensure as stress free experience, regardless of the reason for looking into valuations.
Common Reasons for Veterinary Practice Valuations
There are several reasons doctors need to know the value of their Veterinary practice. The most common reason is for Veterinary practice transitions or sales. Valuations help to determine if the asking price is reasonable, to figure out a reasonable asking price to begin with, and to ensure the practice is profitable enough to invest in; this is also important to know when considering a merger. Doctors should also get their practice valuated within ten years of retirement and every two years after for estate planning purposes. Therefore, it is important to make sure the valuation is not a cookie cutter process.
Rule of Thumb Should Not Apply
No two Veterinary practices are the same, so no two valuations should be the same. Often veterinary practice valuation are conducted using a rule of thumb method. The method does a major disservice to both the seller and the buyer, as it often does not highlight the practice’s uniqueness and how that influences the actual value of the practice in question. For a true valuation, many aspects of the practice must be taken into account and evaluated by experts with extensive formal training and resulting certifications, such as the experts at OMNI Veterinary Practice Group.
Experience Matters
When looking into Veterinary practice valuations, it is important to make sure the professionals have extensive experience performing said valuations. The team at Omni Veterinary Practice Group; example, have helped hundreds of doctors buy and sell their practices using accurate valuations based on the practice itself and are considered Veterinary industry experts in practice valuations. As members of the Institute of Business Appraisers and the Practice Valuation Study Club, OMNI Veterinary Practice Group offers accurate and individualized valuations for Veterinary practices in Washington, Oregon, and California.
To learn more about why and how Veterinary practice valuations are conducted, or to request a free consultation in the Washington, Oregon, or California areas, please contact the expert staff at OMNI Veterinary Practice Group. OMNI’s team of experts are dedicated to ensuring each client’s success through transitions, valuations, consulting and other real estate services in the Veterinary field.
Common Reasons for Veterinary Practice Valuations
There are several reasons doctors need to know the value of their Veterinary practice. The most common reason is for Veterinary practice transitions or sales. Valuations help to determine if the asking price is reasonable, to figure out a reasonable asking price to begin with, and to ensure the practice is profitable enough to invest in; this is also important to know when considering a merger. Doctors should also get their practice valuated within ten years of retirement and every two years after for estate planning purposes. Therefore, it is important to make sure the valuation is not a cookie cutter process.
Rule of Thumb Should Not Apply
No two Veterinary practices are the same, so no two valuations should be the same. Often veterinary practice valuation are conducted using a rule of thumb method. The method does a major disservice to both the seller and the buyer, as it often does not highlight the practice’s uniqueness and how that influences the actual value of the practice in question. For a true valuation, many aspects of the practice must be taken into account and evaluated by experts with extensive formal training and resulting certifications, such as the experts at OMNI Veterinary Practice Group.
Experience Matters
When looking into Veterinary practice valuations, it is important to make sure the professionals have extensive experience performing said valuations. The team at Omni Veterinary Practice Group; example, have helped hundreds of doctors buy and sell their practices using accurate valuations based on the practice itself and are considered Veterinary industry experts in practice valuations. As members of the Institute of Business Appraisers and the Practice Valuation Study Club, OMNI Veterinary Practice Group offers accurate and individualized valuations for Veterinary practices in Washington, Oregon, and California.
To learn more about why and how Veterinary practice valuations are conducted, or to request a free consultation in the Washington, Oregon, or California areas, please contact the expert staff at OMNI Veterinary Practice Group. OMNI’s team of experts are dedicated to ensuring each client’s success through transitions, valuations, consulting and other real estate services in the Veterinary field.
