Exit Planning: Getting the Most Out of Getting Out of Your Practice (Part 1)

Being a veterinarian is more than just a job, its part of who you are; and as a practice owner this truism applies even more so. Many practice owners spend the best years of their career growing their practice. Leaving the practice that you grew and nurtured is more than just a business decision, it is a life changing moment. Unfortunately many practice owners fail to realize the maximum potential from all their hard work when they decide to transition from ownership, because they put little, if any thought, into how to approach this life changing event. However, with a little effort and planning a practice owner can create a plan of action that allows them to leave their practice at a time of their own choosing while obtaining the maximum after tax profit from the sale and the maximum peace of mind in moving forward with their lives. Continue…