Selling a non traditional practice

RE: Selling a non traditional practice

Karen Eggleton — Sun, 22 Sep 2019 22:39:08 GMT

Hi Michael, Obviously a very valid point but although home PTS is a part of what we already do it is only a small fraction of our current work and turnover. My sales memorandum is very clear on my intention to specialise in end of life care over time ( a lot to learn still) but if I was easing out ( or staying on as an employee) any such work for the new owners clients would stay under that remit. My practice works a 10 mile radius. I am planning on covering a much wider area so no, not in direct competition. And binding out is not out of the question.

RE: Selling a non traditional practice

Karen Eggleton — Sun, 22 Sep 2019 22:29:14 GMT

Thank you Jill again for your advice- always very much appreciated!

RE: Selling a non traditional practice

Michael Woodhouse — Sun, 22 Sep 2019 17:11:18 GMT

[quote user="Karen Eggleton"]I'm looking to move on and pass on my busy and successful 11 year established Devon based small animal housecall practice so I can start concentrating on end of life care.[/quote]

Are you moving to a different area of the country? I'm just thinking that a housecall vet would be very popular for home PTS and my concern if I was looking to buy your business is are you going to be competing with your old practice doing end of life care?

If I was looking to buy, I'd need some very strong legally binding clauses that you were not going to target the same clients.

I'd imagine (if charged properly) that home PTS and other end of life activities would be the more profitable aspect of the business, rather than driving around and boosting pets, assuming no surgical work?

RE: Selling a non traditional practice

Jill Butterworth — Sun, 22 Sep 2019 07:54:34 GMT

Those sound good. Gauge interest and see what response you have. My instinct is that your ideal purchaser will be a little like yourself, (or even a couple who wish to job share for quality of life) as that will sit most comfortably with your client base and make it most easy to transition a sale. You can save a lot of time and aggravation by thinking through all the Due Diligence questions at this stage.