The sale of a veterinary practice can be one of the largest financial decisions you will make in your lifetime. To help ensure you’re making the right decision, we believe it’s important to have current market insights supported by long-term understanding, consult multiple experts, and obtain the right professional support. In this episode, Bill R. Crank, DVM, from Total Practice Solutions Group, joins the show to share his thoughts on selling and exiting a practice in today’s market.
Listen in as Bill reflects on more than 28 years of experience in the veterinary industry and explains the changes he is currently seeing in the market. He gives recommendations on how to help ensure you get the best deal possible and talks about ways to increase the value of your practice, along with the common misconceptions about creating your succession.
Listen to the Full Episode:
What You’ll Learn In Today’s Episode:
- How Bill went from veterinarian to businessman.
- What vets may want to think about as the market is changing.
- How to think about the timeline of your succession plan.
- Ways to increase the value of your practice.
- Some common misconceptions about corporate buyers.
Resources In Today’s Episode:
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Disclosure: Travis York is the owner of Three and One Vet Advisors and a partner of SignatureFD. Three and One Vet Advisors is a veterinary consulting and strategic planning firm of which SignatureFD has no involvement or ownership. James Yost is a partner and wealth adviser at SignatureFD. SignatureFD is an investment adviser registered with the U.S. Securities and Exchange Commission. Three and One Vet Advisors and SignatureFD are not affiliated. Mr. York provides all non-investment advisory services through Three and One Vet Advisors. The opinions of the guests and the contents of this podcast are intended to be educational only and should not be relied upon as investment, tax, business, or planning advice. You should consult with a professional advisor prior to taking any course of action that may impact you or your business.