1. Practice Acquisition & Start-up Financing
Dr. Tony Kremer, DVM

2. KVS Hospitals Animal Care Center of Plainfield
CARE Animal Emergency Services
Mallard Point Veterinary Clinic
Oswego Animal Hospital
Hinsdale Animal Hospital
Animal Medical Center
Animal Care Center of Shorewood
Animal Care Center of Downers Grove
Animal Care Center of Polaris
Old Town Animal Care Center

3. Animal Care Center of Plainfield

4. Mallard Point Veterinary Clinic

5. Oswego Animal Hospital

6. Animal Care Center of Polaris

7. Animal Care Center of Shorewood

8. Old Town Animal Care Center

9. Animal Care Center of Downers Grove

10. Hinsdale Animal Hospital

11. KVS Services OPEN 7 DAYS A WEEK WALK-INS WELCOME
Full medical & advanced surgery
Boarding
Grooming
Doggie Day Care
Obedience Training
Adoptions
Live-in externship program
OPEN 7 DAYS A WEEK
WALK-INS WELCOME

12. Why are you interested in this topic?
Forward thinking
How do I afford a practice/hospital?
State of the profession
Who owns most of the veterinary practices today? (Corporate/55+ older veterinarians)
Consolidation
What room is there for future private practices?

13. How did I get started/become a practice owner?
Worked for a vet multiple practices
Had a great mentor
Proved my work ethic/motivation/enthusiasm
Practice owner financed the sale & made me a part owner

14. PROS & CONS of Ownership
Increased income
Debt in practice & real estate
Pay off student loans
Huge financial risk
Rental property income
Great responsibility
Independence
Work hours
Satisfaction of building something larger than yourself
Employee issues (hiring/firing/drama)
Lifestyle
Patient responsibility
Repairs & maintenance
Client issues/social media
Insurance & understanding
Payroll

15. KVS Hospitals Animal Care Center of Plainfield
CARE Animal Emergency Services
Mallard Point Veterinary Clinic
Oswego Animal Hospital
Hinsdale Animal Hospital
Animal Medical Center
Animal Care Center of Shorewood
Animal Care Center of Downers Grove
Animal Care Center of Polaris
Old Town Animal Care Center

16. Acquiring a Practice Start-up practice Acquiring an existing practice
Partial Practice/Partnership
Existing track record, back office, owner financing & shared responsibility

17. Finding the Right Location or Practice
Traffic counts
Population
Competition
Median income

18. Other Issues Why is the practice for sale? Desperation or profit?
What is included in the sale? Practice, real estate, equipment, employees, goodwill?

19. Other Issues Cont. Contracts: Vendors Inside/Outside lab
Facility leases
Equipment leases
Employee contracts

20. Financing Bank Relationship/Collateral The Price
Formal/informal valuation (Vet specific CPA/attorney?)
Formulas (+/-1X gross income, 5-14X profits, multiple of EBITDA)
Value is all about profits – run your practice like you want to sell it in 6 months

21. What is EBITDA? Earnings Before Interest Taxes Depreciation
Amortization.

22. Any Questions?

23. Contact Information
Animalcareinfo.com
Drtony.com
Helpsavepets.com
(815)
Mentorship, externships & tours!
KREMER Veterinary Services