A look at 2024 acquisition market shiftsFebruary 4, 2024These shifts include everything, from pricing dynamics, deal structures, seller profiles, the likelihood of deal closure, and more.
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The retirement mirage: When can I stop working?December 19, 2023Addressing potential issues well in advance of the proposed sale is far more advantageous than discovering concerns during the sale itself, especially if they are challenging to resolve within a limited timeframe.
Preventive care, client payments streamlined with partnershipAugust 24, 2020VitusVet has introduced a service that splits the cost of veterinary care into multiple payments on a pet owner’s existing credit card.
What is your money personality?August 14, 2020Most people fall into five basic financial categories or money personalities. Which one are you?
Is more debt good for your financial future?July 28, 2020If you're hoping to buy or expand a practice, you may think your educational debt means you won't be able to get a business loan. Even if you could get funded, the very idea of adding a few hundred thousand dollars in debt may give you what is commonly, if not medically, described as the heebie-jeebies. It's time to change your thinking. Not only are you likely to be overwhelmed with lenders happy to do business with you, but owning a profitable practice is also one of the best ways to pay down your student loans in less time. That will leave you able to do things you'd like better than servicing personal debt. Think buying a home, saving for retirement or your kids' college fund, or going on real vacations. "Being in business for yourself and growing that business makes sense," says Greg O'Brien. He and his wife, Emily, own O'Brien Veterinary Group in the greater Chicago area. "Getting your mind set to do that can be challenging, even for a group of people as intelligent as veterinarians. Often, the first thing so many veterinarians need to do is examine and reprogram their relationship with money." Understanding the number …
Getting out from under debtFebruary 13, 2020These days, it’s difficult to find a colleague who does not have debt. Sure there is “good debt” and “bad debt,” but how do you get it all paid off?
Southern Veterinary Partners creates new award to help students with debtJanuary 18, 2019A new award has been set up to help students deal with debt and create employment opportunities for the future.
10 ways to protect your clinic's cash flowOctober 19, 2017 Veterinary clinic cash flow is challenged by several factors, but broken down, it's simple: how much comes in versus how much goes out. Here are 10 ways your practice can immediately take control of its cash flow. If your practice is hemorrhaging money, you must immediately staunch the flow. You cannot save your way to success, but you should still be conscious of what you are spending. By controlling your spending and saving on extraneous things, your practice will be able to spend more money where it counts, such as equipment and human resources. Plus, you must identify cash that is lost because it was never collected in the first place. The countdown to controlling clinic cash flow starts now. No. 10: Create a budget If you're like most, you just cringed a little when you read the word "budget." As much as they're disliked, budgets are a vital tool in your practice's path to success. Your accounting software and/or your accountant should be able to help you get started if you are unsure how to begin. Adhering to a budget allows you to project potential income and expenses, avoid shortcomings and build in a safety net …
