Lectures and Continuing Education Programs

PRACTICE SALES, ACQUISITIONS, MERGERS, CO-OWNERSHIP

Veterinary Practice Start-Ups And Buy-Ins: A Legal Quagmire (3-4 hours)

No one can start or buy a veterinary practice without knowing the legal pitfalls and methods used to avoid them. Sole proprietorships, partnerships, C-Corporations, S-Corporations, PCs, LLCs, and LLPs… wow! These are some of the options for selecting the type of business to operate. Next come leases, loans, partnerships and shareholder agreements, letters of intent, offers of purchase, restrictive covenants, and a set of terms for the acquisition of a practice. This session will provide a thumbnail sketch of the issues and how to find the answers.

Becoming a Co-owner: It’s More Than Just Sharing Toothpaste (2 hours)

Contemplating becoming a co-owner of a veterinary practice is an exciting opportunity for veterinary associates since it represents the transition from being a salaried employee with little control over management decisions to being an owner who can share in the profits of the business as well as control its destiny. Becoming a co-owner of a veterinary practice is like getting married. It’s important to agree on the principal terms governing the relationship before getting hitched. This presentation covers some of the basic issues prospective co-owners should explore before and during their business relationship.

Practice Sales for Baby Boomers (2-3 hours)

Buying or selling a veterinary practice is an exciting opportunity for the parties involved. But as with all significant opportunities, there are also risks and pitfalls of which veterinarians should be aware of when they plan to buy or sell an interest in a veterinary practice. The best way for veterinarians to minimize the risks and avoid the pitfalls surrounding the purchase or sale of a veterinary practice is to gain a thorough understanding of how such practices are bought and sold and the principal business and legal issues that come up in these transactions. This presentation sets forth a general outline of the issues purchasers and sellers should consider in transferring the ownership of a veterinary practice.

Where’s the Value? Basics of Practice Valuation (1 hour)

The value of your practice is not in the “80% of gross revenue” number. The value is in the bottom line. This presentation provides a general overview about what contributes to practice value and tangential issues, including when should you care about a practice’s value.

Which Business Structure is Right for Your Veterinary Practice? (1-2 hours)

Veterinary practice owners often need guidance when deciding whether to operate their veterinary businesses as a Sole Proprietorship, C Corporation, S Corporation, Partnership or some other type of business entity. This lecture provides an overview of the considerations veterinarians should take into account when selecting a form of doing business. Additionally, this presentation addresses some of the relative advantages and disadvantages of each entity.

Setting up Specialty Practices....Which Business Structures Work and Don’t Work (1-2 hours)

Business structure is as important as an animal's skeleton.....without it to protect and support vital organs, there is no animal. When specialists come together to develop a practice, they must pay very close attention to their business structure as it will often be the reason for their success or the route to many evils. This presentation provides an overview of various options to structure a specialty business and the legal and business ramifications that go with each.

Reducing The Uncertainty: Financing Your Practice-Purchase, Start-Up, Or Expansion (1 hour)

Owning a practice is a major decision, which represents both overwhelming uncertainty as well as a great deal of personal satisfaction to new veterinary owners. Central to the seemingly empty abyss of “not knowing” is the matter of financing. More specifically, how does one go about securing financing for such an undertaking? This presentation addresses some of the basic issues with respect to financing practice start-ups, acquisitions, and expansions. Attention will be focused upon determining the amount of the loan, selecting an appropriate lender and designing a loan package.

Business Plans: Blueprints for Veterinary Businesses (2 hours)

Business plans are blueprints for businesses. They describe how businesses should be put together. This article gives tips for writing business plans (making them personal, making them detailed, and revisiting them often) and a process for writing them (determine practice environment, vision, and business components).