A practice valuation is an analytical assessment that answers the question “What’s my veterinary practice really worth?” While there are many ways of coming up with a veterinary practice’s value, Henry Schein Professional Practice Transitions (Henry Schein PPT) uses valuation methods that are used and approved by the National Association of Certified Valuation Analysts to ensure that the value is accurate.
Done properly, a veterinary practice valuation is determined based on many factors, both tangible (e.g., equipment) and intangible (e.g., goodwill). It is not something that can be done based on a ‘drive by’ evaluation. Computing a practice’s value takes time, experience, and the detailed analysis of an expert in the field, which is why you want it done by Henry Schein PPT.
Why you need a practice valuation
There are many reasons for obtaining a practice valuation. The most common reason is determining the market value when putting a practice up for sale. But there are many other reasons for getting a practice valuation:
- Partnership buy-ins and buy-outs
- Future transition planning
- Purchasing a practice
- Estate Planning
Circumstances such as estate planning, divorce, and partnership dissolution require special valuations. And EVERY solo practitioner should have an up-to-date practice valuation at all times to protect their family in the event of unanticipated disability or their untimely death. While no one likes to think about it, should it happen, there is a very short window of time in which the practice can be sold before the practice becomes of little to no sale value.
So, no matter what phase of your veterinary career, for information on Practice Valuations contact us at: 855-237-5525 or firstname.lastname@example.org.