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I'm thinking about selling my Veterinary Practices business in the next 12-18 months. We're doing about $1.2M in revenue with 15-18% net margins. I have no idea where to start — broker vs. private sale, what multiple to expect, how to prep the business. Any advice from people who've been through it?
Sold mine last year for 3.2x SDE. Used a broker and it was worth the 10% commission — they found a buyer I never would have. Start cleaning up your books NOW.
18Get a proper valuation first. I thought my business was worth $500K and it appraised at $750K. Don't leave money on the table.
11The biggest thing is making the business run without you. Buyers want systems and processes, not a job. Took me 8 months to document everything and train my team.
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