How OMNI Veterinary Practice Group Can Help Speed Up the Process of Selling a Veterinary Practice
Selling a Veterinary practice, also known as Veterinary practice transition, is a time consuming and often stressful experience, both for the seller and for the buyer. Even with a professional to help with the process, it can sometimes take years to complete. OMNI Veterinary Practice Group can help to streamline the selling process, making the transition smoother and much quicker for all involved.
Hard Work and Dedication
On average, it takes approximately 200 man hours to complete a transition from start to finish. The experienced team at OMNI Veterinary Practice Group work hard to complete the process as quickly as possible by focusing on each client’s needs, while maintaining complete confidentiality until the sale is completed. One way OMNI Veterinary Practice Group does this is by showing the Veterinary practice after hours, over the weekends, and will even conduct showings throughout the holidays as needed. When it comes to selling a Veterinary practice, OMNI Veterinary Practice Group is dedicated to the success of their client, before, during, and after the sale.
Keeping the Buyer Focused
Due diligence is a key part in Veterinary practice transitions. The experts at OMNI Veterinary Practice Group strive to keep buyers focused throughout each step of the process. Obtaining financing, for example, can be a complicated and drawn out step in selling a Veterinary practice. Through assisting buyers with the financing portion of Veterinary practice transitions, OMNI Veterinary Practice Group helps maintain the momentum of the sale up to closing, regardless of the type of transition needed to ensure the best possible outcome from both the seller and the buyer.
Experience
Hundreds of doctors have successfully bought and sold their practices through the OMNI Veterinary Practice Group. The experience allows the professionals at OMNI Veterinary Practice Group to handle a wide variety of Veterinary practice transitions throughout each step of selling a Veterinary practice, with creative transitions and solutions being a specialty. Some of the types of Veterinary practice transitions include:
- Setting up associate to own agreements
- Partnership sales
- Merging practices
- Outright sale of the practice
OMNI Veterinary Practice Group has the experience and resources to successfully perform all aspects of the transition process, such as:
- Consulting
- Valuations
- Real Estate Services
- Transitions and Sales
To learn more about how Omni Veterinary Practice Group helps doctors sell their Veterinary practice in the Washington, Oregon, and California area, please contact their team of experienced professionals for a free consultation.
Reasons to List Your Veterinary Practices for Sale with OMNI Veterinary Practice Group
Whether you are planning for retirement, looking to relocate, or taking your Veterinary career in a new direction, placing your Veterinary practice up for sale is a huge endeavor, one that you should not be do alone. The experts at OMNI Veterinary Practice Group are dedicated to providing their clients with the best possible services to meet their needs, while building a trusting relationship. Here is why you should trust OMNI Veterinary Practice Group when listing Veterinary practices for sale.
Confidentiality is Paramount
At OMNI Veterinary Practice Group, maintaining seller confidentiality is one of their highest priorities. Deciding to list a Veterinary practice for sale a major career move, regardless of the reasons behind it. When confidentiality is breached, the practice risks losing valuable patients and employees who would otherwise have remained during and after the sale, which reduces the overall value of the practice. For this reason, the professional team at OMNI Veterinary Practice Group have dedicated themselves to becoming experts at maintaining complete confidentiality throughout the process, while ensuring high listing exposure.
Marketing Experts
Even the most profitable Veterinary practices for sale can sit on the listing pages indefinitely when marketing efforts are lacking. At OMNI Veterinary Practice Group, this is not an option. The OMNI team of professionals have extensive experience and formal training as marketing experts to ensure the highest exposure for the listing as possible without risking the seller’s confidentiality. Each practice is listed across the nation in over 30 locations, including:
- Universities
- Associations
- Programs
- Social Media Platforms
- Online Marketing Efforts
- Mailers
- And More
To better expose Veterinary practices for sale, OMNI Veterinary Practice Group has built strong lasting relationships within the field. These relationships, which also help in speeding up Veterinary practice transitions, include:
- Vendors
- Bankers
- Attorneys
When you are ready for a career move involving the selling of your current practice, you can trust the experts at OMNI Veterinary Practice Group to maintain your confidentiality, while marketing your practice to a large group of potential buyers. To better assist you in the transition, OMNI Veterinary Practice Group is a leading provider of a wide range of services to Veterinary professionals, which include:
- Practice Sales or Transitions
- Valuations
- Consulting
- Real Estate Service
- Buyer Representation
To learn more about listing your Veterinary practice in the Washington, Oregon, or California areas, please contact the expert team at Omni Veterinary Practice Group. OMNI specializes in Veterinary practice sales, and are dedicated to ensuring your success throughout the entire process.
The Importance of Veterinary Practice 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.
OMNI Practice Group Highlight the Cons of Completing a Veterinary Practice Sale Without a Broker
The Seller May Not Receive Full Practice Value
A broker can help their client to achieve full value for the money they’ve placed into their business over the long-term. They can then work to obtain viable selling opportunities and to locate qualified buyers within the marketplace. Without this type of guidance, the seller may find their selling opportunities restricted.
Sellers are unable to Handle the Legal Aspects Alone
The legal aspect of a practice transition is often a critical element within the Veterinary practice sale process. Buyers will have their lawyers review the business’s paperwork and any issues they find must be analyzed closely by experts in the legal field. Brokers often have significant legal experience or have a legal team on their side and can help handle any challenges that arise during the transition process, while keeping the seller’s needs as the foremost consideration. The broker will be available at any time via phone or email to answer the seller’s questions and move the transaction process along. This can help prevent the seller from making poor choices and becoming embroiled in legal challenges.
The Seller Doesn’t Have Marketing Experience
When bringing a Veterinary practice to the marketplace, the seller must be able to highlight the advantages of their business in a way that attracts qualified buyers. Brokers are often experts in this area. They can use their experience to craft compelling marketing materials for the seller and use their experience in the marketplace to build target buyer lists and send out high-value content to these buyer lists.
Sellers Cannot Handle Mediation with Buyers Alone
The buyer will likely have a lawyer driving their purchase process. The lawyer will be negotiating with the seller on all elements of the transaction, including the final price. Having a broker on-hand during this process ensures the broker can handle all mediation, negotiating on the seller’s behalf to get the right price and the ideal structure for the purchase.
Working with a qualified broker can help Veterinary practice sellers reduce their transaction challenges and secure a seamless sale. To learn more, speak with the team at OMNI Veterinary Practice Group at 877.866.6053 or visit their business website at www.omnipg-vet.com.
OMNI Practice Group Explains the Many Different Types of Veterinary Practice Transitions
Partnership
Selling a portion of your practice via a partnership has its own pros and cons. One of the pros is that if you can find a partner with similar interests and philosophies as well as a set of skills that enhances your practice and you get along well, you’ve found a winner. The cons are that those types are difficult to find. The ADA states that 70% of partnerships fail. However, if done right using experts in partnerships, you can have a successful and happy partnership transition.
Walk Away Sale
A walk away sale involves the seller removing themselves and their business interests from the practice the moment the sale is completed. This could be ideal for those in the process of retiring or relocating to a new area across the country. But sellers must analyze whether they truly want to walk away from the business they helped create. To complete a walk away sale effectively, sellers must tie up all loose ends many weeks before the buyer completes their transaction. This ensures a seamless handover process and allows the buyer to immediately enter the business with a fresh start.
Sell and Work Back
This can often be very gratifying. The seller sells 100% of the practice, but stays to work as an employee in the practice. The seller may cut back their hours, or may keep up the pace. The seller and buyer work together and the seller may even mentor the buyer. The seller no longer has any management responsibility or ownership. He simply does clinical veterinary medicine. As long as the two get along, this can work wonderfully.
Customized Transition
Working with a Veterinary practice transaction broker can help sellers customize the sale according to their unique requirements. Brokers are experts in managing the transition process, from organizing the timing of asset sales to implementing buy back procedures once the sale has been completed. It’s important the company the seller works with has a full understanding of their business plans before they begin the transition process, as this will help reduce potential issues as the transaction is completed.
By having a clear understanding on the available Veterinary practice transition options, owners can ensure the right model is found for their sale process. To learn more, speak with the trusted team at OMNI Veterinary Practice Group at 877.866.6053.