In this video, you will learn about veterinary practice loans. Should you start your own practice or buy an existing one? Some CPAs recommend that you buy a practice rather than start one. You need to be educated on whether or not to start or buy a practice.
The price to buy a veterinary practice is going up. When you buy a practice, you are purchasing the existing things. You are purchasing the equipment, staff, building, reputation, systems, and clients. That is the biggest value. In the pricing of practices, the value to you as a doctor is that you already have clients. When you go in to look at a practice and they are making a lot of revenue per year, make sure that there are at least two doctors. Corporate groups are looking for businesses like this to buy. Since practices are being corporatized, they are willing to purchase more. When you go to a bank, if their profit is really high then the banks will finance you higher. This is a good rule of thumb about where you would buy a practice. To learn more, keep watching this video.