VPB believes in aggressive representation consistent
with sound business practice. Established areas of expertise include the following:
Selling or Retiring
The primary aim of VPB's veterinary sales and marketing program is to expose your practice and its availability to the greatest possible extent, while at the same time focusing on individuals and companies who could be your most likely buyers. When representing your practice for sale, we market to the widest possible potential group of qualified veterinarians, brokers and national corporate buying groups.
Initially, we will prepare a comprehensive “package” on your practice and then distribute the “package” to prospective buyers and brokers throughout California with whom we maintain an excellent working network. Thereafter, VPB's staff will continue its ongoing efforts to contact veterinarians who are currently looking to buy as well as developing an advertising program designed to provide maximum exposure for your practice.
Buying a Practice
If you are looking to buy a practice, we can help you find just what you are looking for. Our exclusive association in California makes us the perfect answer to your buying needs in the geographical area that you desire.
Once a potential practice has been identified , the first step is to determine how much a veterinary practice is really worth. Because of VPB's strong working relationship with veterinary practice appraisers throughout California, we can refer you to an experienced appraiser to evaluate the fair market value of the practice. Once the fair market value of the practice has been determined and agreed to by you, VPB will prepare and present your offer to the seller. In addition to representing your interests throughout the negotiating process, we will assist you in structuring the transaction to maximize tax benefits and obtaining practice acquisition financing and working capital loans.
Considering a Merger
If you own a practice whose annual revenues are less than $500,000, you may have an unsellable asset. This is so because the high cost of rent, combined with high labor costs, will not generate sufficient cash flow for a prospective buyer. However, all is not lost! You may be able to “merge” your practice into a nearby practice or a nearby practice owner may wish to accomplish a merger by relocating his or her practice into your hospital facility. Because of the potential economies of scale created by the merger, this strategy (as opposed to an outright sale) could allow a
selling
practice owner through the use of an "earn out" to receive value for his or her practice, while at the same time setting the stage for eventual retirement. VPB can effectively guide you through the labyrinth of issues that may arise in the merger transactions. It should be noted that a space sharing arrangement may be an effective alternative to a merger. Please give VPB a call if you would like to learn more about this creative and innovative concept.
Thinking of Starting a Practice
VPB offers veterinary tenant representation. VPB's staff is fully experienced in all aspects of veterinary tenant representation.
VPB begins by developing an understanding of your needs. After meeting with you, research is undertaken to provide you with information concerning your various options with regard to specific geographical areas where you are most likely to establish your practice. In addition to the obvious factors of location and types of competition, we research comparable lease rates and secure other relevant data as it applies to the proposed location. We will help you gather pertinent demographic information about the area where you desire to establish your practice. Considerable research is conducted to locate areas tailored to the specific needs of each of our veterinary clients. Once a suitable site is located, VPB will assist you with the lease negotiations and help you to secure financing at competitive rates to construct tenant improvements and buy or lease equipment necessary to conduct your practice.
Expanding Your Practice or Renegotiating Your
Lease
VPB is available at any time, not only at the inception of your real estate lease negotiations, but throughout its duration and beyond. We offer a wide range of tenant related services (e.g., leasing additional space, negotiating rent and annual rent escalations, options, etc.) which create immediate and long-term savings to our veterinary clients.
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