A well-crafted strategy and a detailed plan for its achievement will be carefully designed based on you, your practice and your motivation for selling.
Before we seek to understand your practice, we seek to understand you. We listen closely to your reason for selling, your sales timeline, and your post-sale plan. These factors will be transformed into your action plan for your practice sale.
Your veterinary business is not just numbers. It has a heartbeat, a mission, and a personality. We will work with you to understand not only the numbers but also the people behind the numbers-the veterinarians, staff, patients and clients. Understanding your practice, it’s people, and how it works will lead to a buyer who appreciates your life’s work.
We will work with you to accentuate the positive aspects of your real estate. Your building type, size, sales potential, or rental potential will be built into your sales plan.
Armed with an understanding of your motivation, your practice, and your facility, we will propose an action plan for the sale of your practice. We will outline clear steps for the location of a buyer whose needs are compatible with yours and who understands the culture and personality of your practice and staff.
Documents thoroughly gathered and expertly examined help us understand your practice's past, present, and true profit.
We know exactly and specifically what critical practice information you will need to supply to arrive at a fair market value for your practice. We ask for that information and nothing more. That information can be accessed by working with you, your practice manager, your CPA, or by Praxis accessing your documents remotely over the internet.
We make you’re providing documents as simple, painless and inexpensive as possible. You can choose the easiest and best system for you whether that is pre-paid scanning, faxing, or mailing services arranged at your local FedEx Office. Once received, the documents are digitized and stored on our secure file sharing system.
We present both your current and historical practice information in a clear, straightforward, and understandable manner. Your income and expenses from your three most recent tax returns will be transferred to a single sheet for easy comparison. Using this document, your historical baselines and trends for revenue and expenses can be easily seen.
Your practice profit may be more than it appears from your tax return. Praxis works with you to present an accurate picture of your practice profit. Our analysts sometimes adjust out of your financials expenses that are personal, non-recurring, or non-essential to your business thereby clearly demonstrating true practice profit.
Praxis uses a combination of art and science to set the price for your practice. We initially calculate your price by capitalizing excess earnings using a three-year weighted average. That is the science. We then consider thirteen real life common factors, such as practice location, to aid in establishing a fair practice price. That is the art. Art and science at work for you.
Sometimes we find buyers and other times they find us. Either way, we use both traditional and cutting edge technologies to make your practice shine.
Leaving nothing to chance, your practice will be marketed using both traditional and modern methodologies. Traditional methodologies such as mail campaigns, call campaigns, journal advertisement, and VMA classified advertisements will be utilized. You will also be well presented in social media ads and posts, on the Praxis website, and to the Praxis buyer database.
Your confidentiality is our highest priority. The only thing worse than qualified buyers never learning of your practice sale is the wrong people, such as current clients and staff, learning of your practice sale. Prospective buyers are screened and required to sign an NDA prior to releasing any sensitive practice data for that opportunity.
We will make you look great! Your practice is present in an interactive profile through video and a virtual tour of your facility that is visually engaging to vetted buyer prospects. All important information regarding you, your practice, facility, staff, wages, income, expenses, profitability, price, demographics, equipment, debt service, and earnings potential are presented in a clear and persuasive manner.
What is better than looking for the perfect buyer? Having the perfect buyer look for you. It is called inbound marketing and we are experts at it. Our system draws thousands of prospective buyers to us looking for practices just like yours. We also know over 30 corporate consolidators, where they are buying and what they are paying.
The biggest transaction of your life requires the most experienced and knowledgable experts to facilitate your deal.
Our marketing efforts for, and financial analysis of, your practice often result in multiple buyers, increased competition, numerous offers, and sales prices consistently higher than that of other practices for sale. These offers, expressed as letters of intent, are the starting bell of the closing process.
The buyer and the bank will put your practice financials under a microscope to make sure your practice is as represented. They will examine every financial statement, document and report you have ever generated. They will want to know everything about everything. That won’t be a problem for you because when it comes to your practice, we will know everything about everything.
This is the proof stage. Proof is required before closing will take place. You will need documentation showing exactly what you’re selling and that you have clear title, copies of all contracts, documentation of all obligations, statements of all employee insurance, agreements, and benefits, vendors lists, monies owed, and numerous other items. Errors of omission can be costly. Praxis will guide you through every step of the process so it won’t cost you. No one is more diligent than Praxis.
Agreements turn intention into words. Whether it is the letter of intent, the asset purchase agreement, the employment agreement, the real estate sales agreement, the lease, the escrow agreement, or any of the other numerous documents, Praxis insures that the words on the page reflect the understanding in your mind. Practice has developed time-tested documents that we provide to you to insure your confidence in the closing process.
Praxis serves as an expert liaison between your practice, the buyer, and the bank. The buyer’s bank looks to us to understand your practice and your sale. We support the accuracy of your practice sales price and the sufficiency of practice revenue to satisfy both buyer living expenses as well as bank debt.