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Articles

5 reasons why smart business owners sell strong businesses

13 Jul 2022 - Simon Palmer - Practice Sales Vet practice buying Vet Practice Sales Vet Practice Valuations

One of the first questions that a buyer will ask when a business is for sale is “Why are they selling?”.

Don’t become a boiling frog in business ownership: the hidden cost of inaction

13 Jul 2022 - Simon Palmer - Practice Sales Vet Practice Sales

There is an urban legend that if a frog is suddenly put into a pot of boiling water, it will jump out and save itself from impending death. But, if the frog is put into lukewarm water, with the temperature rising slowly, the frog will keep trying to adjust and acclimatise…until it’s too late. 

Running a successful business is not a sprint or a marathon…

30 May 2022 - Simon Palmer - Practice Sales Vet Practice Sales

There is a common saying that running a successful business and having a successful career is a “marathon, not a sprint”. The saying is meant to remind people to think long term, to pace themselves and have longevity in mind, rather than just short-term results.

“Why are they selling?” Why good business owners sell strong businesses

05 May 2022 - Simon Palmer - Practice Sales Vet practice buying Vet Practice Sales

One of the first questions that a buyer will ask when a business is for sale is “Why are they selling?”.

Vet Practice MoneyBall: How to uncover underappreciated Vet Practices

26 Mar 2022 - Simon Palmer - Vet Practice Sales

In 2002, Billy Beane, the general manager of the Oakland A’s baseball team, was faced with the departure of star players and a limited budget to replace them. He realised that if he was going to look for players using the same metrics as all the other teams, he was going to find the same players that every other team did and be outbid every time. His solution was to find and use new metrics (Sabermetrics), in order to find underappreciated and affordable players and create a winning team from them.

Sale Disclosure: Telling the Team

22 Nov 2021 - Simon Palmer - Practice Sales Vet Practice Sales

When a practice owner is looking to sell their practice, they will often put off telling their staff about the sale for as long as possible.  There are many reasons for this. Sometimes (often) they won’t want to tell the staff at all until after a deal has been locked in with a buyer.

Why the staff will stay

18 Nov 2021 - Simon Palmer - Practice Sales

It is quite common for practice owners to be fearful of how the staff will react if they learn that their practice is for sale.

Confidentiality Agreement FAQS

11 Nov 2021 - Harry Nicolaidis&Simon Palmer - Practice Sale Legals Practice Sales Vet practice buying

If you are looking at buying a veterinary practice, it is likely that you will be asked to sign a Confidentiality Agreement or Non-Disclosure Agreement at some stage. 

Practice Ownership: Should you Buy or Set up?

11 Oct 2021 - Simon Palmer - Vet Practice Sales Vet practice buying

Once a Vet has decided that they want to be their own boss and own a vet practice, the next question that they face is “should I buy an existing practice or set one up from scratch?”

Stock Valuation FAQs

23 Aug 2021 - Anne Lencioni&Paolo Lencioni &Simon Palmer - Vet Practice Sales Vet Practice Valuations

When a practice is valued, it is often for goodwill and equipment, “plus stock”. That is to say, the stock levels will be determined closer to settlement and an amount added to the valuation to compensate the vendor for the stock that will be onsite at the date of transfer.

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