Too often practitioners who thought they were on the doorstep of retirement are finding they need to work three to five years longer than they thought—or even more. The problem: When they have the practice valued, they find a gap between the retirement they envision and what they can actually afford.
I have lost count of the number of occasions when I have written in this column that partnership in a veterinary practice is very similar to marriage. The analogy is one that potential partners must ignore at their peril. Nonetheless, joint ownership of a professional practice can be much like something else as well: a couple moving in together.
Women now buy half of all practices sold in some parts of the country, and prospective women buyers are on the rapid rise nationwide. The Northeast, mid-Atlantic and the Southeast contain the largest concentration of female buyers, according to brokerage statistics, and national trends have begun to mirror the general doctor population, too.