Legal & Business Planning Articles
As a veterinarian, you may experience several transitions during your career. To protect your professional and personal assets, it’s important to include insurance as part of your planning.
Veterinarians associating with owner-doctors have become more prevalent in recent years than has been the case in the past. The number of doctors graduating from veterinary school, the increased overhead costs of operating one’s practice, the rigor of starting a practice from scratch and the increasing difficulty of obtaining total institutional financing to purchase practices are all reasons for the unbridled growth of associateships.
Are you forming or purchasing a practice? Are you planning to practice with another doctor? What entity form is appropriate and what do you need to know to select the right one?
Veterinary practice appraisers typically use methods that place an emphasis on the earnings or profitability of the practice.
Strategies for Early, Mid and Late Career Doctors.
Many veterinary hospital owners think of practice transitioning as an event that occurs at the end of their career. But with careful planning and positioning of your practice, you can find many opportunities throughout your career to enhance your profits and practice value through various transition strategies.
You have heard it before: a healthy, well-managed veterinary practice should sell for about one year’s gross revenue. Please toss that rule of thumb out the window — it no longer exists!
Are you planning or ready for retirement? As a veterinarian you may have both business retirement and personal retirement issues to address. In order to help you prepare, review the following retirement planning issues and ask your investments professional for assistance and guidance.
All practice financing is subject to credit approval. Business Refinance Program is for business term debt only. Revolving credit and existing Wells Fargo Practice Finance debt are not eligible for consolidation.
The articles and materials on the Wells Fargo Practice Finance Web site are provided for general information only and do not constitute, nor are they intended as, a substitute for consultation with accounting, tax, legal or other professional advisors. Wells Fargo makes no representation regarding the articles available in the Strategies for Success Library or the completeness or accuracy of the information contained therein. The articles and the information contained therein may be incomplete, may contain errors or may have become out of date. Wells Fargo makes no commitment, and disclaims any duty, to update any of the articles or materials in the Strategies for Success Library. The views expressed in the articles are those of the authors alone. They may or may not reflect the views or opinions of Wells Fargo.
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