We have been providing credentialed brokerage services to veterinary practice sellers for over 20 years.
Ready to sell your veterinary practice?
AS YOUR EXCLUSIVE REPRESENTATIVE,
HERE’S WHAT WE OFFER:
We have a diverse range of experience with over 20 years of representing veterinarians.
When you list with PS Broker, we keep you informed throughout the process.
We are prompt, easy to work with, friendly, and we return your calls.
We offer competitive commission rates and fees.
We continually update an extensive database of qualified buyers, both independent and corporate, as potential candidates to purchase your practice.
We have a nationwide network of professionals including mentors, practice consultants, tax specialists, recruiters, and attorneys.
We facilitate the sale of perhaps the most significant transaction of your life.
PS Broker will sell your veterinary practice.
HERE’S OUR STEP-BY-STEP PROCESS:
Every practice is different. The selling process begins with a discussion to allow us to understand you, your practice, and why you are interested in selling your practice. We will introduce ourselves, explain the sales process, and detail our services and fees. We expect you will have many questions, and we look forward to answering them thoroughly.
After our conversation, we will email a checklist of items needed to start the valuation process to establish a list price for your practice, along with a list of our references and our signed Confidentiality Agreement. Rest assured, any information you share with PS Broker is held in the strictest confidence. Once the Confidentiality Agreement is completed, the valuation process begins in earnest.
IN-HOUSE PRACTICE VALUATION
To evaluate your veterinary practice, PS Broker’s Certified Valuation Analyst will require some background information and documentation to begin the process.
- Name and location of your practice.
- When was your practice established?
- How is your income produced; from small animal/large animal/mixed/other?
- Are you a solo practitioner or do you have associate veterinarians?
- If you have associates, do you have a non-compete with them? Do you and the associates work full-time?
- If you own the real estate, has there been a recent appraisal? If so, what is the value of the real estate?
- If the practice facility is leased, what are the lease terms?
- What is the approximate square footage of the practice facility?
- How many exam rooms are there?
- Is there room for expansion?
- What are the major equipment items? Digital X-ray? Surgical Laser? In-house Lab?
- Are any pieces of the equipment leased or financed? If so, how much is the payoff for financing?
- What was the gross income for the most recent fiscal year?
- Are there any new competitors in your practice area?
- The Last 3 Fiscal Years of Practice Tax Returns (1120-S or Schedule C & Statements)
- The Last 3 Fiscal Years of Profit & Loss Statements
- The Last Fiscal Year Period Total Reports
- The Practice Year-to-Date Gross Income for Current Year Compared to the Same Period in the Previous Year
- The Last Fiscal Year Income Production Summary Report (Report Showing % of Income Produced by Services Provided: Vaccines, Surgeries, Office Visits, Medications, Lab, etc.)
- The Last 3 Fiscal Years of W-2 and/or 1099s for Associate Doctors & Relief Doctors (If Applicable)
- Current Employee List with Wages & Benefits
- Basic List of Major Equipment Pieces Currently Used to Generate the Practice Income
- Asking Price of the Real Estate Housing the Practice and/or Terms of Current Facility Lease
Once our Certified Valuation Analyst finishes the financial valuation of your practice, we will schedule another call with you to share our opinion of a listing price and recommended terms for a corporate buy-out or a sale to an independent buyer. If you have a practice with little to no extra cash flow after all necessary expenses are paid, we can discuss areas in which we see opportunities to improve the cash flow and hence, the value of your practice. We will discuss the expectations of a corporate buy-out and the timeline we estimate it will take to sell.
Before committing to listing your practice, we suggest you speak with your financial advisor regarding the tax consequences of selling. Your financial advisor may suggest an allocation of the selling price and various tax deferral opportunities.
When you agree to engage PS Broker as your exclusive representative, we email you our Exclusive Right to Sell Agreement. We recommend you have our Agreement reviewed by an attorney. We will be open to discussing any changes you may have to the Agreement.
After concluding the Exclusive Representation Agreement, as our client, you will have a dedicated account manager who will get to know you on a personal level. Your account manager will be with you from when you list your practice until it is sold.
Our marketing team will assemble and gather any additional practice information that may be needed. We then create a public advertisement and a more detailed marketing package and submit them for your approval. Qualified buyers will only have access to the specifics of your practice after they have signed our Non-Disclosure Agreement (NDA).
OPEN MARKET & PUBLIC ADVERTISING
Upon your approval of the public advertisement and the detailed information package, we begin our marketing. Alongside old-fashioned personal customer service, mass mail, and actual phone calls, we have a modern advertising strategy that includes search engine optimization and digital marketing specialists. We tailor your ads for the widest possible distribution in the veterinary industry.
One of our most successful marketing tools is our Matterport 3D virtual tour. The virtual tour allows a qualified buyer to view the practice facility online with nearly the same level of engagement as a physical visit. Again, all interested buyers must submit our non-disclosure agreement before receiving any information other than the public listing.
IDENTIFY PROSPECTIVE BUYERS
We maintain a national database of independent and corporate buyers. In addition to our internal database, we actively identify new prospective buyers in your area. When a buyer shows legitimate interest in purchasing your practice, on your behalf, we will act as the intermediary in communications, coordinating visits, and negotiating the terms of the sale.
ASSIST IN OBTAINING FINANCING
Prospective buyers need to secure financing before presenting a Letter of Intent. If interested buyers have not been pre-approved for financing with a preferred lender versed in veterinary practice financing, we introduce them to lenders with a proven track record.
NEGOTIATE THE DEAL
Upon receiving Letters of Intent from qualified buyers, we negotiate the price and terms on your behalf. Our goal is to get you the best deal possible.
We negotiate multiple offers which may include cash, stock options, or earn-outs. We negotiate employment contracts. We negotiate the allocation of the selling price. We facilitate due diligence (a challenge in itself) and virtually every aspect of the process, all the way through to closing, drawing on our firm’s decades of experience.
Once a Letter of Intent is signed, our dedicated closing team steps in to ensure all the necessary due diligence items are procured and deadlines are met. Our closing team will coordinate attorneys, lenders, and escrow companies, provide contract templates, schedule meetings, and organize and facilitate all the documents needed to close the sale in a timely, streamlined manner.