www.tpsgsales.com

ScottDaniels

JohnBryk

RichardAlker

BillCrank

LenJones

KarlSalzsieder

GeorgeSikora

DaveDavenport

KurtLiljeberg

RebeccaRobinson

Selling or Buying a Veterinary Practice?Dr. Kurt Liljeberg – 800.380.6872 – kurt@tpsgsales.com

MN, WI, MI, IN, OH, NY, PA

Dr. George Sikora – 419.945.2408 – george@tpsgsales.comDC, IL, KY, MD, OH, NC, SC, VA, WV / CT, MA, ME, NH, RI, VT, DE, NJ, NY, PA

Dr. John Bryk – 419.945.2408 – john@tpsgsales.comDC, IL, KY, MD, OH, NC, SC, VA, WV / CT, MA, ME, NH, RI, VT, DE, NJ, NY, PA

Dr. Bill Crank – 419.945.2408 – bill@tpsgsales.com DC, IL, KY, MD, OH, NC, SC, VA, WV / CT, MA, ME, NH, RI, VT, DE, NJ, NY, PA

Rebecca Robinson – 912.230.3389 – rebecca@tpsgsales.com TX, NM, LA, MS, AL, TN, GA, FL

Dr. Len Jones – 334.727.2067 – len@tpsgsales.comTX, NM, AZ, LA, MS, AL, GA, TN, FL

Dr. Richard Alker – 850.814.9962 – richard@tpsgsales.comFL

Scott Daniels – 877.778.2020 – scott@tpsgsales.com CA

Dr. Karl Salzsieder – 360.636.1228 – karl@tpsgsales.com AK, AZ, HI, ID, NV, OR, UT, WA

Dr. Dave Davenport – 816.331.9449 – dave@tpsgsales.comMT, WY, CO, ND, SD, NE, KS, OK, IA, MO, AR

TOTAL PRACTICESOLUTIONS GROUPVeterinary Practice Sales & Appraisals

Spring 2014 n Volume 7 n Issue 1

Veterinary practice brokers focused on the financial success and growth of fellow veterinary professionals.

19603 Harrelson Drive Belton, MO 64012

PRSRT STD

U.S. POSTAGE

PAIDLee’s Summit, MO.

PERMIT NO. 98

Selling or Buying a Veterinary Practice?

Visit www.TotalPracticeSolutionsGroup.com to find more information on the practices listed above and additional services.

Kurt Liljeberg - 800.380.6872

Kurt Liljeberg - 800.380.6872George Sikora - 419.945.2408John Bryk - 419.945.2408Bill Crank - 419.945.2408

George Sikora - 419.945.2408John Bryk - 419.945.2408Bill Crank - 419.945.2408

Len Jones - 334.727.2067Richard Alker - 850.814.9962

TotalPracticeSolutionsGroup.com

• WI NEW! Northwest WI Near MN line - Gross $735K. Px and RE only $675K.• WI far north Mx px gross $890K. Near Lake Superior. Px and RE price only $725,000.• WI NEW! Waukesha County - Gross near $850K. Offered at $750K. very profitable!!• WI NEW! Fox River Valley Area - small animal Px with RE for $855K. Gross $690K.• WI NEW! Madison Area - SA Px and RE only $895K. Gross for 2013 is $875K. Call!• IN Indianapolis - SA Px gross $550K. Very nice!! Px and RE is $725K. Very clean.• IN Northern IN - SA Px gross near $400K. Px & RE for $450,000.• MI NEW! Central lakeshore - small animal gross $500K. Very profitable. Call for details• MI North central area - small animal grossing $625K. Call for details.• PA NEW! NW PA - small animal px gross $550K, Very nice hospital. Call for info.

Dr. Kurt Liljeberg 800.380.6872 - kurt@tpsgsales.comMN, WI, MI, IN, OH, NY, PA

• NEW! East Coast - 4-5 Dr. Prx. 2013 gross $2.9mm, 8800 sq. ft. office. Great opportunity with approx.. $300,000 in after debt income.

• North Central FL - Multi Dr. $1.9 gross lease space. Turn-key w/great staff and well equipped. Lots of interest. Owner will stay on staff.

• North FL - Solo Dr. well established SA, 2013 gross $700k, 2500 sq.ft. office, well equipped, experienced staff. Prx & R/E.

• Pompano Bch - Solo Dr. 2013 gross $735K, great location on the east coast with beautiful beaches and great fishing. Turn-key Practice ready for you.

• Coastal Panhandle - Established Prx w/Satellite 2013 gross ~$1.15mm.• NEW! SW FL Coast - Great semi-retirement Prx. lease space, high net.

Dr. Richard Alker 850.814.9962 – richard@tpsgsales.comFL

• Chicago, IL - General practice Grossing 1.3M with Fantastic RE, net 200K• Central, IL - EMER Practice in leased facility. Will net buyer 125-150K.after debt service.• NEW! Listing-Central IL - Practice w/RE grossing 950K, Doctor net 225 after debt service• NEW! MD - Upscale northern suburb D.C. Grossing 1M Shopping Center location.

Very well equipped with high ACT. Buy for 550K make 175K after debt service.• Low Country SC - Established practice, leased facility, Grossing <300K large client base.• Back on the Market VA - Southeast Virginia. General plus Holistic Grossing 1M with

Pristine R. E. Net 200K after debt service. Owner will aid transition.• VA Hampton area - Grossing 375K, owner motivated. Make Offer.• NEW! New England area - Integrative (Holistic) practice with RE, Grossing 650K.• WV - Practice Grossing 750K with 3,500 sq. ft. RE. Buyer makes 150K plus after debt service.

Very profitable. Emergencies sent to Emergency Clinic.• NEW! VT-NY border - Practice with RE, very profitable, 1 Doctor Grossing 450+.• Coming Soon Long Island NY - 1 Doctor practice Grossing 650K in shopping center.• NEW! PA - western Philly Suburb Grossing 750K with Pristine Real Estate..• NEW! N.E. Ohio - Grossing 800K plus with spacious building with Real Estate

Very profitable, 2014 projection 1M.• Long Island NY - Two Emergency Practices- 1ST Practice 24 hr EMER Hospital, well

equipped & long established. Very profitable, Grossing 2.5M. 2nd practice grossing 1M.

Dr. Sikora - george@tpsgsales.com / Dr. Bryk - john@tpsgsales.comDr. Crank - bill@tpsgsales

419.945.2408DC, IL, KY, MD, OH, NC, SC, VA, WV / CT, MA, ME, NH, RI, VT, DE, NJ, NY, PA

• High Desert, CA (in escrow) Gross revenue $700K on P/T hours. Busy shopping center. Spacious office with great net. (ID#76497)

• NEW! Los Angeles, CA - $550K gross, plus real estate. Great location on busy street (ID#76497)

• NEW! Los Angeles, CA - Strong net of $200K on revenues of $450K. Great location, well established office. Seller retiring. (ID#76524)

• FELINE ONLY PRACTICE: Southern CA: $800K gross. Upscale area, strong net, beautiful office. Real pride of ownership. (ID#76516)

BUYER REPRESENTATION APPRAISALS PARTNER BUY-INS

Scott Daniels 877.778.2020 – scott@tpsgsales.comCA

• SE Alaska - 1 DVM SA practice, leasehold.• NEW! N of Seattle - High gross, high net, 1 DVM in strip center.• N. of Seattle SA - 1DVM, $150K gross, w/ RE sale or lease. Jump start practice $50K• NV - SA Practice and RE, outside Reno, near skiing. Revenue 300K.• NW WA - on the Peninsula 1+DVM SA high quality medicine. $700,000 gross revenue yr.• OR - Equine surgical facility LG DBL SX – Prev. ops. > 1 million yearly revenue• NEW! - SA some mixed. Excellent facility, high rec. area, East of Portland.• OR NW of Portland - High Net, SA, high tech, over $500K gross. Seller to do some financing.• NEW! S. Puget Sound includes RE. 1 DVM, great location!

Dr. Karl Salzsieder 360.577.8115 – karl@tpsgsales.comAK, AZ, HI, ID, NV, OR, UT, WA

• FL NEW! Panhandle Listing coming soon - Visit website for details & other new listings.• AL NEW! South AL - Excellent reputation & clientele. Well equipped,3000SF on acre.• GA Athens Area - Perfect prx gross approx $700K. Well managed & profitable. Prx RE• TX 1 hr NE of Dallas - Grossing $650K, RE offered at $300K. Call today for details• TX San Antonio - Gross $850K, M-F only, no boarding no emer, freestanding RE.• AL NEW! Reduced! North AL - Great community, gross $750K RE only $250K• TX N. of Dallas - SA prx, ready for new owner, digital xray, all the bells & whistles!• TX NEW! East of Dallas - Grossing $640K, RE $300K. Visit website for further details• TX Abilene - Gross $850K+ Booming community 3000SF facility, Mon-Fri Prx & RE $875K• AL NEW! NW of Birmingham - Great opportunity for satellite office. RE available• AL NEW! Shoals Area - Seller motivated. Call today to be the first to obtain practice details.

Dr. Len Jones & Rebecca Robinson TX, NM, LA, MS, AL, TN, GA, FL 877.711.TPSG or 334.703.5837 Rebecca or len@tpsgsales.com

• NEW! South KCMO - Grossing over $ 900K. Multi doctor practice with Real Estate• Central AR - AAHA Vet Hospital. Over 4000 sq ft, Grossing over $650K. RE Inc.• NEW! South Central MO - SA Practice. Grossing over 850K with Real Estate• Norman, OK - Multi Dr. Practice. Grossing over $850K inc. Bldg & RE• NEW! St. Louis Area - 450K Gross. Real Estate & Living Quarters on Property• Central Arkansas - SA Practice. Free standing Bldg w/ RE Gross $800K• NEW! Denver Area - SA Practice. Grossing 300K with Real Estate• South Central MO - SA Practice. Free standing Bldg w/RE Gross $800K• NEW! Joplin MO - SA Practice with Real Estate. Owner Retiring.• Montrose, SD - LA/SA on I-90. Multi-Dr. Practice. Grossing over $1.1 M. Inc. RE

Dr. Dave Davenport 816.331.9449 – dave@tpsgsales.comMT, WY, CO, ND, SD, NE, KS, OK, IA, MO, AR

Practice Listings

Scott Daniels - 877.778.2020

Karl Salzsieder - 360.636.1228

David Davenport - 816.331.9449

Len Jones & Rebecca Robinson877.711.8774 or 912.230.3389

Hints & TipsHow do I Increase My Practice’s Value?

While it might be nice to have a magic wand that you could wave and “poof” increase your practice value -- there are more down to earth techniques and habits. You cannot measure what you don’t know, so these basics help to correct your direction and will ultimately increase profit even if you’re not selling and help buyers and lend-ers evaluate the practice performance much more easily. For example it will help discover excess supply costs, overtime or higher wages and determine services or prod-ucts that are less profitable (or areas where prices need to increase). The best time to start is now—even if you plan on selling in ten years. Here are a few good tips to keep in mind, to insure a higher valuation for your practice when you decide to sell.

1. Keep good financial records: Complete and up to date financial statements help

both the buyer and lender evaluate your practice. Keep things simple and easy to understand.

2. Profit and loss statements and balance sheets should be completed at the end of every month.

Don’t rely on just the tax returns—financial statements often provide better insights to your practice.

3. Financial statements should go back three years or more.

This helps determine trends and growth patterns. Any one time large expenses or revenue drops should be noted with a brief explanation and supporting docu-mentation. Keeping good financial records will help to increase the potential of your practice if and when you decide to sell your practice.

4. Use monthly financial statements to analyze trends. What is your percentage of labor costs? Gross revenue?

Net income? Has your net income increased as your gross increased? Is your inventory too high?

5. Report all of your income: Not reporting income is illegal and can result in heavy

penalties if audited. Buyers base their decision on the value of the practice by verifiable cash flow. If you report smaller annual sales, chances are you will not receive full value for your practice. Don’t be fooled by the apparent “tax savings” of unreported revenue. The amount you think you save in taxes will pale in com-parison to how much you lose in market valuation. For example; you might conceivably save $10,000 a year by not reporting $30,000 in income. A $30,000 income reduction could result in losing $60,000 - $75,000 or more in the total sale price. That could take seven years or more to make up that loss in sale price.

6. Categorize expenses: Include detailed categories for expenses. Separate any

officer W-2 salary from other staff members. If your spouse is employed also categorize them separately. Keep records of any owner expenses incurred by the business including; cell phones, auto expenses, etc. These are called “owner add-backs” and help deter-mine the ‘real’ profit of your practice. Keep copies of receipts and document these expenses.

7. Separate multiple offices: If you have multiple offices keep the books and records

from each office separate. Use separate bank accounts and tax returns. If you file a Schedule “C” simply use one schedule for each location. If you have a corpora-tion you can still file them separately without having the expense of multiple corporations. Ask your accoun-tant for more information.

8. Update your office: Keep you equipment well maintained. When was the

last time you painted or re-decorated? The smallest and most inexpensive changes can often produce the largest results. Do not let your practice fall into disrepair.

When it comes to improving value, now is the best time to start. Every owner should act like you are always ready to sell even if you are not. It helps to keep your eye on the ball, focuses your attention on ways to improve profit, and keeps you organized and prepared.

Bank of America Practice Solutions provides customized financing solutions, including a number of financial programs designed to meet your needs and simplify your life. Choose from clinic purchase and commercial real estate combination loans offering the ultimate in flexibility and control, with principal reduction and early payoff options.

• Up to 100% financing* plus additional working capital available.

• 12-month, interest-only options that let you make lower payments.

• Longer terms — up to 20 years.

• Fixed rate terms to meet your specific needs.

Buying a clinicPurchasing a clinic is something you may do just once in your lifetime. That’s why you need someone who can make it as easy as possible, from start to finish. We’ll offer resources you can use to analyze the clinic you’re considering buying — including location, patient base, fee structure and more.

Selling a clinicWith Bank of America Practice Solutions, you’ll have access to our team of financial specialists that can help ensure a smooth transaction. You can also take advantage of our Buyer/Seller referral network and partnership buy-in programs.

* All programs subject to credit approval and loan amounts are subject to creditworthiness. Some restrictions may apply. The term, amount, interest rate and repayment schedule for your loan, and any product features, including interest rate locks, may vary depending on your creditworthiness and on the type, amount and collateral for your loan. Bank of America may prohibit use of an account to pay off or pay down another Bank of America account.

Bank of America is a registered trademark of Bank of America Corporation. Bank of America Practice Solutions is a division of Bank of America, N.A. ©2014 Bank of America Corporation AR7Q8WCL | PS-VET-SA-SP_01_14 | Rev. 05/2014

Practice sales and acquisitionsFlexible loans for buying or selling your clinic.

Call 800.428.2847Visit bankofamerica.com/practicesolutions

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