Practice Management

WVC 90th Annual Conference

(PM8P) Advanced Selling to Corporate II

Tuesday, March 6
3:00 PM - 3:50 PM
MBCC, Breakers E, Level 2

CE Credits: 1

In Part 1 we discussed in detail the differences between selling to a private party veterinarian and selling to a Corporate Consolidator. In this session we will dig a whole lot deeper into the nuances of completing a Corporate Consolidator sale. We'll use a number of actual case studies to illustrate the challenges and how to overcome some of the barriers to a good win-win sale. There are more horror stories about bad sale experiences than one can count. The goal of this in depth discussion is to clearly point out the bear traps, provide you with tips to safeguard you in the negotiations, and we will clearly illustrate the most common un-fair clauses/terms that most sellers miss. At the end of this session you should be adequately prepared to understand how Corporate Consolidator deals are different, how to evaluate the merits of different offers, what you need to know in order to get the offer you deserve, and what to look for in the myriad of paperwork common to these sales. If you are a Corporate Consolidator target, be informed. Mistakes on these sales are measured in the hundreds of thousands of dollars.

Byron Farquer

Senior Appraiser
Simmons & Associates Pacific, Inc.

Byron S. Farquer, DVM, CVA is a Boettcher Scholar, and graduated from Colorado State University with honors in 1991 possessing both a BS and Doctorate Degree. He completed a research project in equine orthopedics, assisted in the development of academic programs for use in the veterinary graduate training program at CSU Food Animal Department, and received additional education in enterprise budgeting and analysis prior to entering private practice. His portfolio of experience includes veterinary hospital ownership, advanced business, real estate, and marketing education. He is a recognized expert in business ownership transition, practice management and valuation. He is a frequent national lecturer and published author. Currently Dr. Farquer owns two Simmons & Associates practice appraisal and brokerage firms located in Nevada and California, and serves on a number of industry advisory boards. He is a content advisor for a national medical education network, emebaVet, LLC, and the COO and developer of a national veterinary lender resource website. He holds the Certified Valuation Analyst (CVA), certification by NACVA. The only business valuation credential which is accredited by the National Commission for Certifying Agencies (NCCA).

Presentation(s):

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David King

Owner
Simmon & Associates

A proud, unapologetic Texan and self-proclaimed “steak snob”, David King has been with Simmons & Associates as the Southcentral territory owner since 1997. Simmons is the nation’s largest and most experienced company specializing in veterinary practice sales and valuations. After graduating from Texas A&M College of Veterinary Medicine in 1987, Dr King went on to have a successful career in north Texas. He founded several businesses including Crossroads Pet Hospital, Golden Opportunity Veterinary Rescue Organization, and Bar King Ranch. Crossroads Pet Hospital won dual national awards, honored by Veterinary Economics with Hospital Design and Practice of Excellence Awards. He is a licensed veterinarian and real-estate broker in Texas. In addition to veterinary association memberships, Dr. King is a charter member of Vet Partners, serving on its Valuation Committee, and he is also Trustee for the Simmons Educational Trust (SEF). As a member of the National Association of Credited Valuation Analysts, he earned the advanced designation of Certified Valuation Analyst (CVA).

When there is a spare moment between Simmons and helping his wife Teresa with her Therapy dog organization, Dr King will partake in one of his other two passions, cars (mainly corvettes) and photography. He is a National Corvette Restorers Society (NCRS) Master Judge (highest level) and serves as the judging Chairman for the state of Texas. Sometimes his other hobby will overlap when he gets to photograph cars otherwise you will see him capturing images of dogs and nature. He has sold several pieces of his work and has also been published.

Presentation(s):

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