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?
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How a fixer-upper practice might be just what the veterinarian orderedMay 2, 2019It's tough out there for buyers of veterinary practices and it seems to be getting worse. Every year, a few new investors and/or corporate consolidators call me looking to spend way too much money on two-plus doctor practices. So how can you, the young, ambitious associate, compete for one of these? You can't, unless you get lucky enough to find a seller morally opposed to corporate veterinary medicine, or who likes you well enough to give up $500,000 to $1,000,000-plus on the asking price. Thankfully, there's another way. If you're willing to live in a smaller town, you could find a true gem of a clinic with little competition from other buyers. Alternatively, if you start thinking like an investor and look for a poorly performing clinic, you could build it into your dream practice. The marketplace is flooded with underperforming clinics, their owners anxious to find a buyer like you, particularly if they are retiring and want to solidify a succession plan. In this article, I'll focus on what you need to know when buying a fixer-upper with real upside potential. I'll also offer tools on how to spot and fix the most common issues that can drain …
7 qualities of a good veterinary practice ownerJuly 11, 2016In our profession, most veterinary practices are owned by — wait for it — veterinarians! Yes, there are some states that allow non-DVM owners, but for our purposes, we are speaking to those practice owners out there with DVM behind their name — and a LOT on their plates!
