A Step by Step Guide to Selling a Veterinary Practice
You’ve thought about it. You’ve sought advice. And you’re finally able to tell yourself, “it’s time to sell my veterinary practice.” It’s a big step and potentially life-changing. This article will help you to understand better what’s involved when you sell your veterinary practice . There are five phases to selling your business: valuation, marketing, bidding, due diligence , and closing. Although timelines vary, it is safe to budget one month for each phase for a total timeline of six months. Valuation When you tell people, “I want to sell my veterinary practice,” they are likely to ask how much you want to sell it for. Figuring out what your business is worth is called valuation. It’s an essential part of the process and helps to determine a sale price. To provide a valuation grounded in fact and research takes several steps, and the process generally takes about a month. First, data is collected, and research is conducted, followed by modeling, normalization, and finally, creati