Plan ahead for a smooth practice transition

Wells Fargo Practice Finance

Practice transitions are a normal part of the lifecycle for every veterinary practice. Whether you're just getting started as a practitioner or winding down your career, you likely face a practice transition in your future. The best way to ensure your transition goes smoothly is to plan well in advance for your practice purchase, start-up, or sale.

If you're thinking about buying or starting a practice, be aware you'll need to have certain prerequisites in place. Lenders will look for a minimum of two to three years of post-graduate veterinary experience, ideally in a similar practice to the one you wish to start or purchase. Excellent credit is essential when applying for a loan, so it's never too soon to start building an excellent financial profile. And defining the kind and location of practice you want early in the acquisition or start-up process is a huge advantage, as you'll be prepared to move quickly.

A veterinarian planning to sell his or her business in the foreseeable future needs a realistic idea of the current value of the practice. Contract with a professional practice appraiser to get an accurate valuation, and work with your appraiser to gain an understanding of what you can do to affect the value of your practice. Start making those changes, not weeks or months in advance, but years before you are ready to sell.

If you missed the recent Practice Transition webinar series co-sponsored by AAHA and Wells Fargo Practice Finance, be sure to watch a replay. Designed especially for veterinarians, the three, 1-hour webinars are packed with useful details about getting your practice off to a successful start, or transitioning out of your current one:

Preparing for Practice Ownership
From goal setting and business planning to financial education and preparation, you'll get practical information and tools to help navigate the process of acquiring or buying into an existing practice, or starting one from scratch.

Practice Transitions: Buying a Veterinary Practice
You'll examine the key elements of a practice purchase, learning how to assemble an acquisition team, evaluate potential practices, conduct due diligence, and select the right financing program to meet your needs.

Practice Transitions: Selling a Veterinary Practice
This program examines the key factors of a hospital sale, including business and financial preparations, how to increase practice value, and which professionals can help you work through the process.

Click here to access these valuable webinars today. And to learn how Wells Fargo Practice Finance can help you achieve your practice goals, contact a financing specialist at 866-4MY-PAWS (866-469-7297) or visit

We look forward to helping you achieve a smooth and successful practice transition.


All financing is subject to credit approval.
©2014 Wells Fargo Bank, N.A. All rights reserved. Wells Fargo Practice Finance is a division of Wells Fargo Bank, N.A.

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