Information Library

Dick Goebel, DVM
Simmons Great Lakes
Southeast Veterinary Conference (speaking notes) 
On September 11, 2001 our view of the future took a dramatic detour. The subsequent malaise in our economy and the massive correction of the overpriced stock market also took its toll on our perspective. We now view our practice service and financial operations with less certainty […]

Dick Goebel, DVM
Simmons Great Lakes
Southeast Veterinary Conference (speaking notes)
Introduction
Veterinary practices are small businesses. In fact, we run very small businesses. To put this in perspective, major accounting firms think of small businesses in terms of annual revenues of $25M or less and 250 employees or less. With the average practice consisting of 2 veterinarians and […]

Dick Goebel, DVM
Simmons Great Lakes
Southeast Veterinary Conference (speaking notes)

If autonomy, directing a small team and having prospects for affluence are important to you, then solo practice ownership may be a good choice. 
Background
The Megastudy, in the late 90’s, determined that stagnant income is our profession’s number one problem. It was also determined that practice ownership is […]

Dick Goebel, DVM
Simmons Great Lakes
Southeast Veterinary Conference (speaking notes)

According to recent AVMA data (1), there are over 21,000 veterinary practices in the United States. It is estimated that roughly 5% (or 1,050) are in some phase of ownership transition each year, either sale on the open market, internal sale, acquisition or merger, or liquidation.
When considering […]

Kirsten Poppen, J.D.
Simmons Midwest
Determining practice value is critical when selling your practice.  Much of our business involves providing accurate practice valuations for a variety of reasons, including practice sales.  Often we are asked whether a seller and potential buyer can split the valuation fee.  While they can split the fee, there are some important items […]

Stanley R. Creighton, DVM, Diplomate, ACVIM, Internal Medicine
CEO, National Veterinary Associates, Inc.
And
Dick Goebel, DVM
President, Simmons & Associates Great Lakes
Practice owners too often are focused on the day to day challenges of patient care, client service and staff management that they overlook factors affecting profitability and practice value. In this session, the authors will discuss the […]

Byron Farquer, DVM, Simmons Pacific
There is only one first impression. Much has been written on the subject, and we intuitively know that it is true. Arguably a first impression can set the tone or influence someone. Why is it that we recognize the importance in ourselves, but often overlook it when selling our veterinary […]

- Dick Goebel, DVM, Simmons Great Lakes
A decade ago, most owners selling their veterinary practices had no choice but to finance part, if not all, of the practice sale. Today, many commercial lenders are eager to be involved.
Small Business Administration (SBA) loan performance data indicates that veterinary practice loans are in the “lowest risk” category. […]

- Larry Wiseman, DVM, Sue Wiseman, DVM

Simmons & Associates has been involved with a wide variety of practice sales over the years, and we have seen a number of problems that could have been avoided simply by planning ahead. One of the most common problems is non-compete agreements with the practice associates.
Consider updating non-compete agreements. […]

- David King, DVM, Simmons & Associates Southcentral
Okay, you’ve made the big decision to sell your practice. Now what do you do? The following is a brief checklist that might help.

Establish a ‘Fair Market Value’ - This is best done by a professional. Most veterinarians do not possess the skills to properly value their own […]