Preparing a Veterinary Practice for Sale
The two year programme of work that raises the price of a practice before it goes to market.
- Two site small animal practice
- Practice owner approaching retirement
- Typically two years of preparation followed by a six to twelve month sale process
Illustrative example. This describes the shape of a real engagement type, not a specific client. No figures, percentages or quotations have been invented, and the outcome fields are left as markers until a client approves real detail in writing.
The Challenge
The owner intended to retire within three years and had received an unsolicited approach from a corporate group. They had no independent view of value.
Starting Position
- The owner generated a large share of clinical income personally
- Two long-standing associate vacancies were being covered by locums
- Personal costs ran through the business and had never been separated out
- One site premises were held personally with no formal lease in place
Work Completed
- Independent valuation with a full schedule of normalisation adjustments
- Programme to transfer clinical work and client relationships to the wider team
- Recruitment plan to replace locum cover with permanent staff
- Accounts cleaned so adjustments would survive a buyer due diligence process
- Formal lease put in place for the owner-held premises at a market rent
Outcome
- [CLIENT APPROVAL REQUIRED] Record the change in normalised EBITDA here
- [CLIENT APPROVAL REQUIRED] Record the difference between the initial approach and the eventual outcome here
- [CLIENT APPROVAL REQUIRED] Record the completion timescale here
Timeframe
Typically two years of preparation followed by a six to twelve month sale process
No testimonial is shown here. We do not publish quotations that have not been given and approved by a real client.
Recognise Any of This?
If your practice is in a similar position, the first conversation costs nothing and usually identifies the one thing worth doing first.