We utilize a unique process known as mutual representation, whereby we represent the interest of both parties involved in the practice transition. Our equitable approach helps to ensure that the goals of both parties are compatible and that goodwill is maintained after the sale.
A veterinary practice transition is a complex process that can take months or even years to complete. It is not simply a matter of finding a veterinary practice in the classified ads, negotiating a “good deal”, and living happily ever after. The post-sale relationship is much more significant. The push and shove techniques that work for only one party’s advantage also work to diminish the seller’s goodwill. The buyer will need the seller’s goodwill to succeed in his/her newly acquired veterinary practice. The equitable process of mutual representation helps to ensure that goodwill is maintained after the sale.
We make sure that both parties have compatible goals and objectives. This concept is totally foreign to brokered transactions – where virtually any warm body is a candidate. We recognize that the seller has a lifetime of effort at stake and the buyer’s future is on the line. We understand the seller’s transition objectives and strive to prevent them from being compromised. We also understand the buyer’s aspirations and assist in accomplishing those goals.
Mutual representation is a mechanism for bringing integrity and discipline to the sale process. Neither party has to gain at the other’s expense. In fact, just the opposite is true. If both parties become sensitive to the needs of the other and realize that their individual objectives are intertwined, then the synergy that results can propel the veterinary practice, and the doctors, to a far greater degree of success.
Transition is a word that connotes a sense of both time and change and should be viewed as a process, not an event. Over the years, our advisors have been dedicated to understanding the veterinary practice transition process and what it takes to make it better, smoother, and more profitable for our clients. Our vast experience has allowed us to develop and refine a truly superior method of transitioning professional practices. Contrary to what skeptics say, someone does not have to lose for you to win.