Areas of Practice
No matter what stage you are in in practice ownership, a financial valuation is a great idea. Not only can we give you an estimate of the value of your practice, but we can lay out the steps to maximize that value and get your practice ready for sale when the time is right. Costly mistakes in accounting can negatively affect your practices future value and can even delay a sale of your practice for as much as five years. With a few simple changes, your practice can grow exponentially in value in the years to come. Monarch Business Consulting can perform a financial valuation and give you a plan to protect your most valuable asset - your practice!
project finance/practice refinance
Interest rates are expected to rise several times over the next eighteen months. The adage “Time is Money” has never been more true! Monthly payments on loans with variable interest rates will continue to rise. If you have a significant practice loan or mortgage, it may be time to refinance. Refinancing now can save you tens of thousands of dollars over the life of your loan. If you are considering a project such as a practice purchase, remodel or new construction, the sooner you can lock in your loan terms, the better. Monarch Business Consulting can help you choose the bank and the loan that is best for you. We work with a variety of veterinary lenders that offer an array of loan options. We will work with you to help you choose the best bank and loan option at no charge.
selling a practice?
As a practice owner, the process of finding the right buyer for your practice can be a daunting one. At Monarch we have contact with many independent associate veterinarians who can arrange the appropriate financing to pay a fair price to an owner who wishes to seek a private buyer. We have conducted controlled auctions of practices that are more appealing to corporate buyers. We have also negotiated and successfully closed transactions with internal associate veterinarians on behalf of practice owners. If you are thinking of Selling your practice in the near future, you owe it to yourself to meet with the professionals at Monarch Business Consultants. We will guide you to making the best decision for yourself, with no obligation to you until you formally hire us.
We will work with you to develop a business plan within your budget to maximize your practice’s success. We can help with construction estimates, practice income estimates, geographic and demographic analysis, financing and a variety of other factors you will need to consider to grow your practice.
purchasing a practice
Congratulations on your plans to become a practice owner! Monarch Business Consulting can help you find the practice of your dreams and evaluate the practice’s financial profile, balance sheet and prospects for success.
Remember that the practice broker represents the seller’s interest, not yours. We can help you with the Letter of Intent, Purchase Agreement, Lease or Building Purchase, Owner Employment Agreement, and all of the other important items to guide you to closing. We will work with your lawyer and accountant to assure things progress as smooth as possible.
Sometimes a little mistake can turn into a big lesson and we strive to minimize the possibility of those errors that may cost you thousands of dollars, if not more. Let us work with your unique set of circumstances to maximize your chances of success. We are always available to advise you on any project you are considering.
Monarch can help you with the planning and design of your project. Because we are practicing veterinarians, we have a first-hand perspective into the way a practice functions. We can help design your project to fit the way you practice. We have a working relationship with several veterinary architects with extensive experience in the veterinary field. We can also work with your local architect to outline the veterinary specific needs of your facility. Mistakes in the design and construction of a veterinary facility can haunt you for years. We are here to help you avoid these costly mistakes.
Use the form below to contact us regarding your practice inquiry. Please be as detailed as possible to help us best service your needs. You may also email or call us to make an appointment.