When a veterinary practice has multiple owners, selling the business becomes more complex—but not impossible. In a recent episode of 360 Half Seconds, Matt and Kia tackled one of the most common and nuanced scenarios they encounter: How can a group of partners successfully navigate the sale of their practice?
Alignment Is Key
The biggest takeaway? Before you even consider going to market, all owners need to get aligned. That means sitting down together and answering a few critical questions:
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What are our individual and collective goals?
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Are we looking for a full sale or a joint venture?
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What kind of buyer do we want—one who maximizes price or one who maintains our culture and structure?
Without agreement on these core issues, sellers risk internal conflict and missed opportunities. As Matt put it, “Any time you add more people to the mix, you’re adding a layer of complication.”
Choose a Point Person
One best practice is to identify a lead owner who acts as the main point of contact with brokers and potential buyers. While all partners should be part of the conversation, having a single voice guiding external communications helps keep the process clean, focused, and efficient.
That doesn’t mean decisions have to be unilateral. Behind the scenes, the group should establish how decisions will be made, whether by majority vote, unanimous agreement, or some other process. The key is to define this before the sale process begins.
Don’t Wait to Get Informed
Many multi-owner practices miss prime market opportunities because they aren’t aligned or prepared to act when the right offer comes along. By getting clarity early, on structure, deal preferences, and exit timelines, owners give themselves a much better chance at a smooth and successful transaction.
At 360 Vet Sales, we specialize in helping groups navigate the complexities of selling with multiple partners. From outlining your options to identifying the best-fit buyer, we’re here to guide you every step of the way.
Thinking about selling? Let’s talk. Even if you’re not ready to make a move, we can walk you through what to expect and help you prepare for the future on your terms.