Checklist for a Veterinary Practice Seller

Find out what steps you need to take if you are going to sell your veterinary practice and what tasks you may need to complete. Follow the suggested steps below to guide you through the process to help you get it right.

Key steps before selling

Prepare financial reports and documents

Below is a list of financial information you might need for a conversation with a potential buyer:
• P&Ls (monthly; annually, year-to-date)
• Balance sheets
• Production reports reflecting all DVMs
• Payroll reports (monthly; annually)
• General ledger

Determine your practice’s market value

Make sure you have an up-to-date valuation of your practice. Use the Galaxy Vets’ practice valuation calculator to help you determine the potential of your practice. Sign up now to try it out.

Find a business attorney

A qualified attorney with experience in vet clinic sales can ensure that the process and all related contracts comply with applicable law. An M&A lawyer will be more efficient in the transaction than a general counsel.

Find the buyers for your business

Finding the right buyer can be a challenge. When choosing a buyer, focus on whether your practice’s core values and philosophy align with the buyer’s vision and mission. Discover what business support is offered (employee ownership, compensation model, future plans for your practice, etc.)