The 2024 Western Veterinarian Conference (WVC) highlighted a growing trend among veterinary practice owners considering selling for reasons beyond retirement. Increasingly, owners are feeling the pressures of managing larger practices, struggling with staff retention, and facing difficulties competing against corporate platforms. Many expressed that the dynamics of managing a practice have shifted, with veterinarians now dictating terms such as pay raises and time off due to high demand.
Another key point discussed was the current strong seller’s market. Buyers are being aggressive, and there’s even talk of a potential uptick in practice valuation multiples. Despite challenges, now may be an ideal time to sell, especially given that interest rates have remained steady. If you’re considering an exit, this could be a good time to take advantage of a favorable market environment.
If this resonates with you or you want more information about selling your practice, 360 Vet Sales can help guide you through the process, ensuring you get the most value. Reach out for personalized insights.