Harness your veterinary practice purchasing prowess
You're a few years out of school and you've put a decent dent in your student debt. You've got a good job as an associate, but recently you've had a nagging feeling you could run a practice every bit as well as your boss—probably even better.
Easy to finance, hard to findRecent research by veterinary consultants indicates that practices available for purchase are increasingly hard to come by (see the April dvm360 cover story "Attention practice owners: Buyers are lining up"). For those who monitor the financial markets, this development is not unexpected—rather, it was inevitable.
As large corporate veterinary practices continue to pursue target hospitals, the demand for them increases. At the same time, the U.S. Federal Reserve is forcing interest rates down with its policy of so-called "quantitative easing," which makes cash easily available. This makes financing and the cost of entry (the monthly expense for a loan to buy a practice) less of a hurdle than it has been in the past.
For these reasons it's tougher to locate practices that are available to buy. So as a potential buyer, you need a solid strategy.