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09.14.17

HURRICANE UPDATE - Back to Normal

We arrived this morning at the office to find we have had our power restored. Power/Phones/Internet are all up. Thanks for your patience.



 
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Financing


Now that you have decided to either start a new Practice or buy an existing Practice, “How do you pay for it?” Being adequately financed greatly increases the likelihood of a successful practice. If you are panicked about cash flow from the beginning, you will spend more time worrying about the financing then growing your practice.

We prepare a forecast of operations for your first two years owning the Practice. The purpose of the forecast is to develop realistic expectations regarding the revenue and related costs of owning your Practice. This forecast becomes an important tool to help you evaluate the level of revenue needed to support the costs and desired profit margin. The forecast then becomes a part of the financing package that is presented to potential lenders.

For a new start up Practice, adequate financing is needed for the building (if real estate is involved), equipment, inventory and working capital. Working capital is the area that is most often overlooked and yet is vital to the successful start of your new Practice. We help our clients determine how much working capital is needed based on the forecast of the new Practice for the first two years of business.

For the purchase of an existing Practice, adequate financing is needed for the assets of the Practice and working capital. An existing Practice has history to provide a starting point for a forecast. The forecast is important to the lender and perhaps more important to the new owner to demonstrate that the Practice is a viable business.

We work with a number of veterinary and traditional lenders on financing for new and existing veterinary Practices. We have helped many of our clients obtain the necessary financing to allow them to fulfill their dream of Practice ownership.

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