The letter of intent is the shortest document in the transaction and the one that decides the most. Two or three pages, usually drafted by the seller’s broker, often signed the same week it arrives. I’m rarely asked to look […]
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I hold a Texas real estate license and run a commercial brokerage alongside this firm, so I read these deals twice — once as a practice sale, once as real estate. Most buyers read them once, and the second reading […]
An associate finds the right practice. Good numbers, good team, twenty minutes from home. Then someone asks whether they signed anything when they took their current job, and the room goes quiet. Many veterinarians took the 2024 headlines to mean […]
The first number you see is the one you’ll spend the rest of the deal arguing against. That’s not a character flaw — it’s anchoring, and it works on everyone. The asking price lands before you’ve read a tax return. […]
Most buyers I meet have run the numbers three times — EBITDA, rent factor, multiple. Almost none can tell me who actually generates the revenue. That gap is what the veterinarian shortage has quietly widened in 2026. A practice can […]
I’ve watched more than one first-time buyer hit the structure question the way you hit a pothole. Three weeks from closing the attorney asks whether this is an asset purchase or a stock purchase, and the buyer looks up like […]
Most first-time buyers walk into a veterinary practice acquisition prepared for the wrong conversation. They’ve looked at the asking price, maybe glanced at a profit and loss summary, and formed a general impression that the practice is doing well. Then […]
Closing day is not the finish line. For veterinary practice buyers, it’s the starting gun for the most consequential 90 days of the entire acquisition — a window during which client relationships solidify or erode, key staff members decide whether […]
When a buyer agrees to pay $1.2 million for a veterinary practice and the equipment, supplies, and furniture are worth $180,000, the question worth asking before closing is, “What is the other $1,020,000 actually purchasing?” The answer is goodwill. Goodwill […]
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