35
Head for the Exit F
Leaving your practice
with a profit takes planning by Carleen Brice
or most veterinary practice owners, having an exit strat- egy means thinking about how, when and to whom you will sell your practice.
Although almost every veterinarian
starts (or buys) a practice with the intent of selling it when he or she is ready to retire, financial planning experts say most veterinarians do not have a plan for how they will make that happen. “I can’t tell you how many doctors
aren’t looking at exit strategies,” said Gary Ackerman, DVM, a financial adviser with Morse Capital Partners and Centau- rus Financial in Virginia. Lorraine Monheiser List, CPA, CVA,
of Summit Veterinary Advisors in Colo- rado believes that practice owners, per- haps understandably, avoid exit plan- ning because they do not want to face their mortality and because they are too busy dealing with today to worry about the future. List points out that every owner will
one day exit practice ownership, how- ever. “The only questions are when and how. Planning in advance can help ensure that you exit your practice on the best possible terms.”
Begin with the end Ackerman counsels that veterinary
owners need a 5-year exit plan. “Owners should be looking 5 years out from when they want to exit because it can easily
Trends magazine, April 2012
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iStockphoto.com/Alashi
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