Supporting the Purchase of a Veterinary Practice
How an associate vet is supported from first appraisal through funding and due diligence to completion.
- Independent mixed practice
- First-time buyer
- Typically six to nine months from first appraisal to completion
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
An associate had the opportunity to buy the practice they worked in. They had no deposit strategy, no valuation and no experience of a transaction.
Starting Position
- An asking price set by the seller with no supporting basis
- No independent view of what the practice earned under normal ownership
- No funding in place and no lender approaches made
- Shares to be acquired by someone employed by the business, with the tax consequences unexamined
Work Completed
- Independent appraisal and valuation of the practice
- Modelling of share against asset purchase with the tax consequences for both parties
- Review of the employment-related securities position before a price was agreed
- Projections prepared and lenders approached, with offers compared on total cost
- Financial and tax due diligence run alongside the legal process
Outcome
- [CLIENT APPROVAL REQUIRED] Record the agreed structure and price movement here
- [CLIENT APPROVAL REQUIRED] Record the funding secured here
- [CLIENT APPROVAL REQUIRED] Record the first year trading position here
Timeframe
Typically six to nine months from first appraisal to completion
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 We do not publish quotations that have not been given and approved by a real client.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.