Why you should pre-plan your practice exitAugust 9, 2022Let’s start by talking about exit planning. When you think about this term, what does it represent to you? Many will perceive it means they are ready to sell tomorrow, but it is not absolutely true. Whenever you consider starting a business, and no matter the phase of business you are in, an exit plan is vital to your future success. Practice owners are waiting until they are tapped out, exhausted, and ready to get out as quickly as possible. This creates a tremendous amount of stress on what they receive for the sale of their practices and the likelihood of selling to another veterinarian is low.
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VPN Plus+ ExclusiveA perspective against private equityJuly 7, 2022By Patty Khuly, VMD, MBABy the end of this column, I hope to explain the essence of private equity investing well enough to show there is nothing defensible (or even capitalist) about it. Even if you are one of the few fortunate veterinary practice owners likely to benefit enormously from it—trust me, there is nothing to love beyond what it does for your personal bank account. (I begrudge you not one penny of it. You have earned it!)
Why a practice should build net worthJune 23, 2022Practice ownership is not an easy feat, and the demands put on you as the owner can feel unsurmountable. If you are a practicing veterinarian, it can be difficult to run a successful business while practicing high-quality medicine.
VPN Plus+ ExclusiveMy wildest dreams?June 2, 2022By Patty Khuly, VMD, MBAPractices like mine are easily worth 20 times their original sale price (and possibly a lot more given our profession’s feverish practice transaction climate in many suburban markets). Trouble is, I have such mixed feelings on the subject of selling that I do not even want to know my practice’s current market value. Sure, I can have a proper valuation done, but do I really want to go there?
The pre-exit process to sell my practiceNovember 4, 2021Today, there are a record-amount of veterinary practices selling to corporations
Do you know what to consider when selling to a corporate company?November 4, 2021Selling to corporate companies is becoming increasingly common. There are many considerations, such as how long you will remain part of the clinic, as well as the team.
Free at last! How I finally paid off my student loansAugust 9, 2021Student loans can put new graduates in debt for decades. Maintaining your payments, spending less than you earn, and making wise investments can make the process less painful.
VPN Plus+ ExclusiveHow to build or buy a vet practice even when you don't want to be a practice ownerApril 15, 2021By Patty Khuly, VMD, MBAFinancially savvy new grads often share homes, apartments, and even cars. Why not band together to build or buy a practice? This arrangement isn’t as common as it once was, and yet it’s more necessary than ever. This model can work for veterinarians in different stages of their careers, as well.
Rural shortages, student debt target of reintroduced billApril 12, 2021A bill aimed at minimizing student debt and improving access to veterinary care in America’s rural areas has been reintroduced in the U.S. House of Representatives.
VPN Plus+ ExclusiveWhy does no one want to be a practice owner anymore?March 18, 2021By Patty Khuly, VMD, MBABeing a practice owner is hard. But being a veterinarian is way harder than being a practice owner. Which makes me wonder why so many people willing to put in tireless hours to crown themselves animal doctor are subsequently unwilling to take this extra step?
