Owning a veterinary clinic is a true achievement by any measure. And how you feel about it may vary day by day. From one perspective, it’s a prized possession – symbolizing passion for your field and housing invigorating client interactions; it’s also a safe, caring hospital for your patients. From another perspective, well, let’s just say it represents a lot of hard work. Of course, both points of view are right, and because of that, selling your practice has likely crossed your mind. For many, selling is the right move for the next phase of growth; for others, it’s a ticket to the next phase of life. There are lots of viable options.
With over two decades of practice ownership and investment, People, Pets, and Vets (PPV) has met with many talented practice owners. Gaining tremendous insight, we’ve uncovered misconceptions and false beliefs that make many owners shy to the idea of selling. To help you keep an open mind, we’ve compiled the top 6 common myths about selling your veterinary practice. Read on to see how partnering with PPV is different from the rest.
No one wants to enter into an agreement with misaligned expectations. PPV is serious about partnership. Carefully choosing who we work with, we offer true partnership with vets who align with our values-centered mission. Committed to cultivating a positive culture and providing the best veterinary care possible, we take pride in helping our partners realize their full potential.
When caring for every order of business, the last thing you want upon selling is a corporate sterilization. We agree. Preserving your client experience, brand, identity, and culture provides continuity to your team and clients. We like what you built and will not only continue the legacy of what you created, but will amplify your reach through strategic planning, business development, and marketing resources.
The goal behind selling a practice is as unique as the seller him/herself. From regaining work-life balance and specialization to focusing on patients or defining an exit strategy, there are many reasons owners sell. The good news is – we’re flexible. Together we’ll define a path.
If independence is a top reason for owning your practice, then an acquisition may not get you jumping for joy. Problem solved. PPV provides back-end infrastructure and support to keep your practice in good financial and operational health. You continue to lead your hospital and team while maintaining clinical autonomy and control over medical decisions. You also gain a built-in network of passionate veterinarians comprised of leaders in the field.
Love for animals and the quest for financial independence is likely a driver behind owning your clinic. You’ve come a long way and want to ensure the stability you’ve created continues to live on. Understood. Veterinarians who join PPV as partners gain the ability to own part of a stable, fast-growing company. As an equity holder in a larger group, you shift individual risk for a longer-term upside.
At first glance, the task of assessing value, location, practice size, and real estate is a daunting task. Transparency is our policy. We offer a simple, straightforward path for selling your practice. Click here to read about the experiences of PPV partner, Dr. Kirk Esmond, in his article, Why I partnered with PPV.
Selling your veterinary practice is a personal choice that you’ll undoubtedly weigh across many factors. Running your business takes a lot of hats – let us wear some of them for you. As a vet-led organization, we offer true partnership with support and resources, so you can return focus to what you love doing most. Start exploring your options by clicking here to chat with PPV today.
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