So you’re thinking of selling your veterinary practice – now what?

Selling your clinic can be extremely rewarding if you take the right approach.
Galaxy Vets prepared a list of questions to ask yourself before selling a clinic.

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Questions you should ask yourself before selling a practice

What is my reason for selling?

You have decided to sell your clinic. Why? That’s one of the first questions a potential buyer may ask.

What are my exit options?

There are plenty of different methods and timeframes for exiting the business after it’s sold. Do you want to keep working? Are you looking for a larger role in the industry? Do you want to retire? You should envision your goals for yourself and be ready to describe them.

How to find a buyer?

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.)

What’s my practice worth?

Valuing your business is essential to understanding how the sale will impact you financially. A major part of the valuation includes what you’re paying yourself now and how much you want to be paid if you continue working. Galaxy Vets prepared a separate Practice Value Calculator for owners to get a potential exit value. Sign up now to try it out.

What documents should I prepare for the first conversation?

Get your business finances in order. Prepare financial reports for the last few years. Here is a list of financial information that you might need:
– Profit and loss statements (monthly; annually; year-to-date)
– Balance Sheets
– Production reports reflecting all DVMs
– Payroll reports (monthly; annual)
– General Ledger

How long does it take to sell a veterinary practice?

The average time to sell a veterinary practice varies depending on the size, location, equipment, and other factors. Usually takes from three-to-seven months after you’ve found the right buyer.

Why Us?

You next question is who is your ideal partner?
We think that’s us, and here’s why.

Galaxy Vets is a company of owners

Our primary mission is to give veterinary medicine back to veterinarians and provide the best care for pets.

Every employee is a shareholder

Founded and run by vets, we created Galaxy Vets as an employee-owned company because we understand the profession’s challenges — we have experienced them ourselves.

Stability for all through co-ownership

By partnering with us, you become a co-owner of our entire healthcare system, and all your employees also receive equity.

Become a part of a community

Together with us, continue improving your practice and become a part of a community of like-minded individuals who share the purpose of reducing burnout in the veterinary profession.