Who’s going to buy your veterinary practice?

Who’s going to buy your veterinary practice?

Every ambitious associate should share this with their practice owner. (Hint hint! I want to own!) Every smart practice owner should share this with their ambitious associate…or start planning to find one. (Hint hint! I’d rather sell to you!)
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Sep 15, 2016
By dvm360.com staff

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Practice owners: Have you thought about what you’ll do when the time comes to sell your practice? Do you have a plan to groom an associate to take over? Are you going to hand off the keys to an outside veterinarian? Whatever route you choose, your plan should include mentorship—if you want that veterinarian to thrive. This exclusive content from Benchmarks 2016: A Study of Well-Managed Practices by WTA Veterinary Consulting and Veterinary Economics lays out a mentorship program to help the new owner start off on the path to success.

Ideally, this mentorship starts at least three years before the transition will take place and includes weekly management meetings, CE dedicated to business management topics, leadership and management reading topics, and strategic planning meetings.

Click here to download the Benchmarks mentorship timeline and prevent an “I’ve bought a practice, now what?” situation. For the comprehensive plan including the timeline, meeting and reading ideas and a sample calendar visit industrymatter.com/benchmarks2016 to purchase the full report.