Buying And Selling Veterinary Practices

Are you planning to sell or purchase a veterinary practice? If you're not sure what is required of you financially and legally to buy or sell a practice, I suggest putting together an advisory team featuring a lawyer, accountant and banker who can ensure your purchase/sale goes smoothly. And here are a few tips and insights to consider before you even start the process of buying or selling, (based on my years of specializing in supporting veterinary practice sales).

Selling

Before selling a veterinary practice, it's always a good idea to give your accountant plenty of notice. I request a full two years, as that gives me time to ensure that shares in the practice qualify for the capital gains exemption. If this is worked out in advance, finding a potential purchaser is cause for excitement, not concern. Rather than risk being offside a required 24-month test (for shares to qualify for exemption), you can ensure that you're in the clear. Why risk deferring a