Podcast Episode #13 – The Veterinarian’s Guide to Buying and Selling Practices

By Bill Butler | April 9, 2024 |

The Veterinarian's Guide to Buying and Selling Practices

Apple Podcasts

Guest Info
Guest Information:
Kelly Jackson
206-491-2357
[email protected]
https://dvmmatch.com/
DVM Match Mountain West

Embarking on the journey of veterinary practice ownership is a formidable and rewarding venture. The latest episode of the Veterinary Blueprint Podcast, featuring Kelly Jackson of DVM Match, is a reservoir of knowledge for any veterinarian aspiring to navigate the intricacies of owning their practice. Recorded amidst the dynamic Western Vet Conference in Las Vegas, host Bill Butler engages with Kelly, delving into his transition from finance to veterinary practice brokerage.

Kelly's foray into veterinary practice brokerage is not only inspiring but also illuminates the path for veterinarians who aim to tread this terrain. The cornerstone of DVM Match's methodology is the utilization of third-party business appraisals for practice valuations. This approach guarantees an impartial assessment, which is crucial for both buyers and sellers, laying the groundwork for a successful transition.

The conversation shifts to the preparatory phase of buying or selling a veterinary practice. Emphasizing the necessity of initiating this process years in advance, Kelly underscores the strategic importance of enhancing a practice's financial allure. This is not a decision to be made hastily but rather a meticulously crafted plan that can take years to polish to perfection.

The financial benefits of transitioning from an associate to a practice owner are substantial, with the potential for increased income and an improved quality of life. The episode highlights the low default rate on veterinary loans and the current market dynamics, including a shortage of veterinarians, which directly impact practice operations.

Kelly offers a wealth of advice for both prospective buyers and sellers. For sellers, starting early is key—begin the process two to three years in advance to analyze practice finances and make strategic adjustments. This includes utilizing tools like a hospital opportunity report to identify ways to enhance profitability and prepare the practice for sale.

For buyers, understanding what matters most in a practice is essential. Whether it's location, practice size, or the type of medicine practiced, aligning one's goals with the right opportunity is critical for long-term satisfaction and success.<br><br>This episode is an enlightening session, rich with insights that could catalyze a veterinarian's career progression towards practice ownership. With a focus on detailed preparation, financial acumen, and strategic planning, veterinarians can chart a course for ownership success that aligns with their personal and professional aspirations.

As the podcast concludes, listeners are left with a comprehensive understanding of the business transitions in the veterinary field. The discussion with Kelly Jackson offers actionable strategies and a candid glimpse into the rewards and challenges of veterinary practice ownership. For those ready to take the next step in their veterinary career, this episode is an indispensable resource.

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