Potential buyers of vet businesses fall into four main categories:
- The private equity consolidator.
- The entrepreneurial vet looking to add one or two practices to his or her core practice.
- The employed vet looking to buy his or her first book of business rather than setting up from scratch.
- One or more of your employed or locum vets looking to buy into part or all of the business. Or perhaps an existing minority shareholder or partner wanting to buy you out
Work out which of these to target and which of the options will deliver the best deal. You may have had direct approaches from brokers or agents acting for any of the four buyer-types. If networking is not your thing, then do ensure you work with a reputable business broker or business transfer agent. Their sales commission is usually easily justified by their being able to find a buyer for your vet practice efficiently and at a good price.
Once you have found a potential buyer do spend some time understanding what is involved in the legal process of selling a vet practice. Make sure you find a solicitor who has experience of small business sales or best of all a firm like Truelegal with vet specific selling experience.
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The sooner we become involved in the process of helping you to sell your veterinary practice the more likely it is that your sale will be successful, so please contact us today.
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