Seller Success Stories

How Praxis Sold A Veterinary Practice With Explosive Growth For 121% Of Revenue

This solely owned multi-doc small animal practice had been established by the owner 8 years ago. The seller was a 52-year old female that wanted to retire and spend more time with her family.

The seller had combined business savvy with a widely known reputation in the community for selfless humanitarianism. This impressive combination made prospective buyers wonder if the practice would still succeed once the seller left immediately after the sale. Also, practice revenue had increased by 55% each year for the last 3 years. The practice that had produced $550K in revenue two years ago was now over $1.3M in revenue. The rapid revenue growth made the presentation of the veterinary practice value to interested parties very difficult to support. If the last three years of financials were considered for the valuation, it would not account for the recent growth and would force the owner to sell the veterinary practice 2 years later to get the real value.


How Praxis Sold A Key Man Veterinary Practice In A Marginal Area For 120% Of Revenue

This solely owned and operated small animal veterinary practice had been established by the seller almost 40 years ago. The seller had opened his veterinary practice in a middle-income area that was now changing into a low-income area. A failed sales attempt with another veterinary practice brokerage firm had shown that decreasing demographics made the sale of the real estate impossible and the sale of the practice more difficult.

The seller wanted to immediately relocate to another section of the country after the sale. This move would limit the seller’s time available to help the eventual buyer with the transition process. This was particularly important as the seller was something of a superstar. The veterinary practice collected over $1,300,000 a year with the seller as the sole practitioner. The seller performed particular surgical procedures and clients would drive up to 30 minutes to seek out his services. We have a superstar veterinarian in a marginal location who is solely producing over $1,300,000.


How Praxis Helped Young Partners Increase Family Time and Eliminate Debt

This small animal practice was owned and operated by two partners in their mid 30’s. The partners were classmates at veterinary school who met and eventually married. The practice had been in operation for almost 30 years and they had owned the practice for 6 years.

Approximately one year after graduation, these two young veterinarians borrowed $1,600,000 and acquired the practice and real estate. Their payment for the loan was a little over $13,000 per month. After six years of their management, the yearly practice revenue was $1,100,000 and revenue had increased over $100,000 in the past year. After paying the note payments and spending approximately $40,000 per year for building improvements, the owners were collectively taking home approximately $225,000 per year.

While owning the practice, their family had grown and they now had several children. Not wanting someone else to rear their children, one parent stayed home with the children each day. The practice was open six days per week.  He worked four days and she worked the other two. They rarely had time together. The lack of family time along with the huge debt and large monthly payments became unsustainable. They came to the conclusion that they needed to sell their practice, get out of debt and improve their family life.


How Praxis Increased Sales Price By Over 35%

This solely owned, small animal practice had a great reputation in the community and had been in operation for over 80 years. The seller, a 65-year-old male, had owned and operated the practice for 30 years. The animal hospital was located in a nice suburb of a major city next to a well-known university.

The owner wanted to be relieved of practice management duties but continue to work in the practice as an associate for approximately 6 years after the sale. The owner had tried to sell the practice a couple of years ago to a close family friend that had previously worked in the practice as a DVM. This prospective buyer had offered to purchase the practice for approximately 65% of the practice’s revenue.  It was at this point that the owner learned that it is not top line revenue but rather bottom line profit that largely dictates the sales price of veterinary practices.