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Buying Into a Practice

Item Number: VBIZ120
Price: $38.95

Contents

Join the owners' club

Making the transition from associate the practice owner can prove the most rewarding move of your career. Follow these eight steps to help ensure a successful partnership.

Is it worth it to own a practice?

Choosing to own a practice is one of the biggest decisions you'll make. Is ownership worth the work? Plug in your data and find out.

Weigh the benefits of a buy-in

Worried about how you'll afford to buy in - or how an associate buying in will affect your finances? We've got answers!

Find a great match before buying a practice

Buying a practice is often a lifelong commitment. So consider these issues before you put up the money and take down the "for sale" sign.

Preparing your associate buy-in

Selling a share of your practice is a process, not an event. The most important part? Open communication and ongoing training.

Set compensation before you complete a buy-in

Waiting until after the sale to negotiate owner compensation is too late. Here's how to determine a payment package that's fair to all parties.

Divide pay among partners

If you co-own a veterinary practice, splitting compensation equally may not be fair. To avoid conflicts, use a three-tier formula that bases pay on production and ownership.

The emotional dynamics of a buy/sell transaction

Buying or selling a practice involves much more than money. Recognizing and understanding the emotions involved can help you complete the transaction.