What makes Unique Practice Valuations, well, unique? This is a fair question.
Let’s first take a look at the industry players in veterinary medicine. Then how my practice, Unique Practice Valuations, gives clients an edge and maximizes value.
Veterinary Practice Brokers
- For small veterinary practices that do not have an open invite to the Consolidator market.
- Likely a broker’s opinion rather than a practice valuation.
- Valuation bias you may not be able to count on. All valuations have bias, including my own. However, mine are explicitly designed to give my clients an edge and maximize value.
Veterinary Practice Consultants
- For Consolidator market practices.
- Service offerings beyond practice valuation and sales/acquisition advisory, like practice management, human resources, financial planning, tax, and others.
- Assume certified business valuation, by a CPA, MBA, JD, DVM, CVA, CFA, ABV, AVA or other degrees/accreditations.
- Consultants are plentiful, as evidenced by the number of consultants listed with VetPartners, but that does not mean there is an abundance of choices. How many consultants can say they were the chief valuation specialist for the #1 and #2 Consolidators in the market!
Wall Street/Main Street Banks or Big 4 Valuation Services
- Used by Consolidators who want to recapitalize, large multiple practice platforms, or very large and unique single location hybrid practices.
- They have an army of resources with no limit to what they can offer in terms of services.
- I have directly hired and trained several CPAs, MBAs, and CFAs from main street banks and Big 4 valuation services. Although they have been some of my best hires, they still lacked the specialized background and nuanced analytics required for veterinary medicine. Just ask yourself: How many veterinary clients do you think banks and the Big 4 support in a given year? If the answer is greater than one, I would be amazed.
So, why me? For the past 8 years, the #1 and #2 Consolidators have relied on my practice valuations. My practice valuation will be the valuation a Consolidator will conduct to value your practice. No one has worked on the pure volume of veterinary practice deals and unique valuations as I have, not even Wall Street or the Big 4 combined.
Sales or Acquisition Advisory
The difference between an Insider and an Outside Consultant is monumental and consequential. It is not simply a matter of dollars and cents, which will be astronomical, but rather the entire A to Z sales or acquisitions process. Do you think an outside consultant knows the Consolidators as well as I do?
Are you a single doctor practice considering the secondary market? Stay tuned, I will share some advice for you next week.