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Key takeaways No fixed revenue rule works: a veterinary practice does not reliably sell for 1× revenue or any preset percentage in 2026. Revenue multiple is an output: enterprise value divided by annual revenue summarizes a result after the valuation work is done. Normalized earnings come first: buyers apply an EBITDA multiple only after testing…
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Key takeaways Selling and continuing to practice can coexist, but the post-closing role must be negotiated in writing; it does not arrive automatically with the sale. Separate the economic buckets: purchase consideration, employment compensation, rollover equity, and earnout each pay for something different and carry different risks. Stay-on terms vary, so define the schedule, duties,…
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Key takeaways Partnership works only when the promise is real: name the ownership form, value process, dates, financing path, decision rights, and exit mechanics before recruiting with it. Ownership, phantom equity, and bonuses are different: direct ownership carries actual rights, phantom equity tracks value without current control, and profit-sharing remains compensation. The owner must decide…
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Most owners can name three buyers. The ones with national advertising. Two of those three do not primarily buy existing practices at all. That gap between who owners think is buying and who is actually buying is worth real money, because the buyer most likely to pay the most for your practice is frequently one…
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I watch owners do the same small thing when a sale becomes real. They draw an invisible line across a future calendar and ask which side finally belongs to them. The answer is not hiding in a market headline; it lives in the written deal, shaped by how much of the practice still depends on…
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