51
May4

The Practice Broker

Q: MM- Midlands - "I am thinking of selling my 4 vet practice myself- can you give me one reason why I should use a broker?" Answer
Q: SE NW England- "I am a sole trader and am considering selling my practice. I have been advised of the tax benefits of incorporating, should I do that before selling?" Answer

Q: LJ- M25 England- "I have an established small animal practice which I have run single handed for the last six years. My turnover (ex VAT) was £339,000 last year, with a net profit of £94,000. About 6 months ago a pet supermarket in house practice opened within 1 mile of my surgery. Will this destroy any chance of selling my practice for a reasonable price?"
Answer

Q: WM- Central Midlands- "I am thinking of selling my 3 vet SA practice, w
ho should I sell to?" Answer

Q: JS- Midlands- "I keep hearing about EBITDA what is it used for
?" Answer

Q: SW- SW England "I have been approached by a corporate with an offer to buy my practice, which looks very attractive, should I engage a broker or accountant to deal with the offer
?" Answer

Q: MJ- Wales - "I own a mainly SA practice with a T/O of £850,000. My assistant who has worked for me for 5 years wishes to buy my practice, because the corporates keep enquiring whether I want to sell and I have heard that the prices paid are very good I am not sure what to do, can you help?"
Answer
Q: WS- Midlands - "I have been made an offer of over £900,000 for my 4 vet SA practice, I am a sole trader, the corporate group who did this, approached me directly and after seeing my accounts, made the offer. It seems really good as I wasn't expecting as much. Should I take it and move on or ask a professional agent to help?" Answer
Q: GW - NW - "I have been made what I consider a very good offer for my practice, the full offer is conditional on the practice performing to a certain level over the next 3 years. Do you think I should accept this?" Answer
Q: WW - SE - "I am thinking of selling my practice, I employ 18 staff and have two surgeries. What are the major problems that may come my way?" Answer
Q: NM - Scotland - "I incorporated my practice 3 years ago, however I am unsure of what exactly I am selling, shares or goodwill when the time comes?" Answer
______________________________________________________________________________________________________
Legal Disclaimer-Information published on this website is copyright of the VBA and should only be used for general guidance, readers should obtain advice from their financial advisors. The VBA can accept no responsibility on any decision taken using the advice given in the above answers ) (see Terms and conditions See T&C)