Description
Should I stay or should I go now? Succession or Sale – by Alan Robinson
Deciding when and how to sell your veterinary practice can be an extremely complicated business. Here, Alan Robinson discusses the corporate buying bubble, when it might burst and what the other options are for those planning their exit.
Questions we are commonly asked:
When will the corporate ‘buying bubble’ burst?
Should I sell now while the money is good?
I know you can value my practice, but how much might I get in reality?
I’ve been made an offer from a corporate, how do I know if it’s fair?
What will happen to my team when I sell, it’s important that they are looked after?
I really don’t want to sell my practice to a corporate, what else can I do?
Questions we would ask you:
How much money do you need to clear your business and personal debt and then live on for as long as you hope to live?
If we could sell your practice for £X,000,000, would that surplus be enough, would you still need to work and how would you invest that money safely to get a good return?
Are you selling to get away from something – tired of the responsibility, fed up with recruitment and HR difficulties, just feeling overworked, undervalued and underpaid? What are the other options?
What will you do when you are no longer a business owner; you will in effect have sold your identity, how will you cope with that feeling and what are you going to do with your time?
If we could help you achieve say 20% profitability without you working any harder for the next 5 or 10 years, might that be a better option than selling and investing your money – do the maths?
So should you stay or should you go now? Not a decision to be taken lightly and possibly one of the biggest decisions you’ll ever make.
