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Key takeaways Independent practice owners reported the lowest burnout rates among the segments studied. Ownership autonomy protects most owners, so when you, the owner, are burned out, the buffer has failed and the signal deserves real weight. Burnout costs the US veterinary industry roughly $2 billion a year, and the median turnover cost when a…
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What multiple of EBITDA do veterinary practices sell for? In 2026, most independent veterinary practices sell for a multiple of 5x to 8x their normalized EBITDA. However, larger, highly profitable multi-doctor clinics generating over $1.5 million in annual revenue can command premium multiples of 9x to 12x or higher from private equity consolidators. The exact…
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Re-Trade in a Veterinary Practice Sale: How to Prevent It in 2026 Key takeaways A re-trade is when a buyer cuts the agreed price after signing the LOI, useing the 60-to-90-day exclusivity window when you’re legally locked in and can’t talk to other buyers. Two conditions make re-trades possible: a single buyer and disorganized financials.…
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Seller Note in a Veterinary Practice Sale: 2026 Owner’s Guide Key takeaways A seller note makes you the bank — you accept a promissory note for a portion of the purchase price and collect payments from the buyer over time, with interest, instead of receiving full cash at closing. Seller notes are subordinated to the…
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Working Capital Adjustment in a Veterinary Practice Sale (2026 Guide) Key takeaways The working capital adjustment is a dollar-for-dollar change to your proceeds. If the net working capital you deliver at closing is below the agreed target (the “peg”), the buyer deducts the shortfall from your purchase price — no negotiation, no goodwill credit. Per…
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