Corporate Buyers: A Long-Term Commitment
By: Steve Kikikis, Vice President, Broker
As you know, in recent years, corporate buyers have emerged as prominent players in the veterinary practice acquisition landscape. In 2024, there are still many corporates buying good practices. While selling to a corporate entity offers certain advantages, such as financial security and access to resources, it comes with specific expectations. Corporate buyers typically seek a long-term commitment from the selling veterinarian, often requiring them to stay on for two to three years post-sale.
This requirement serves multiple purposes, including ensuring a smooth transition of ownership, maintaining continuity of care for patients, and facilitating the transfer of knowledge and expertise to the new owners. There will also be financial expectations outlined in the work agreement for the outgoing doctor and even their associates. For veterinarians considering retirement, committing to an extended post-sale tenure will push your retirement plans out at least two to three years, underscoring the importance of early planning.
At Omni Practice Group we are experts in selling veterinary practices. This is no regular sale, this is a multifaceted process that demands careful consideration, strategic planning, and plenty of time. By initiating the sale process at least three years before retirement, we can help you navigate the complexities of the market with greater ease and confidence; giving you time to find the right buyer for your practice and facilitating the smoothest possible transaction.
Your plan of action – Contact me today, and I will help evaluate your practice. By doing this we can determine the value of the practice, who would be considering buying your office, and how much time it will take to find that individual buyer or whether a corporate buyer may be a better match. Call Steve Kikikis at 425-905-6920 or email at steve@omni-pg.com
