Buying into a large animal ambulatory practice
The good, the bad, and the finances
Keywords:practice ownership, debt, veterinary business
Most large animal ambulatory veterinary practices are owned by 1 or more of their practicing veterinarians. For associate veterinarians who aspire to be practice owners, there are several areas which should be investigated before purchasing a share of a business. The advantages and disadvantages associated with ownership should be recognized and considered heavily. Having a working knowledge of the business finances, partner pay structure, decision-making process, and ownership contract details makes for an informed buyer. Before purchasing into a veterinary business, it is important to understand what is included in the purchase price and how the purchase will be paid If financing outside of the current business owner(s) will be used, there are several requirements that must be met to be considered eligible for a business loan from a lending institution.