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Fritz Wood

Fritz Wood owns a Kansas City, Missouri, consulting practice serving veterinarians and animal health companies. He serves on the Today’s Veterinary Business editorial advisory board.

Fritz Wood owns a Kansas City, Missouri, consulting practice serving veterinarians and animal health companies. He serves on the Today’s Veterinary Business editorial advisory board.

sell veterinary practice

Sell now or later?

Financial Wellness

What likely will be the biggest financial decision of your life shouldn’t be made in haste. You can sell your practice quickly to a consolidator, hand off to an associate in 10 years or do something in between. Weigh your options and the pros and cons.

We work with successful veterinary practice owners who are contemplating the sale of their hospital. In many cases, they are considering a sale because of the significant growth in corporate consolidators who pay multiples as high as twice the historic valuations. A general feeling exists that the bubble will inevitably burst and that practice values […]

financial

Did you catch a financial virus?

Financial Wellness

If your portfolio is sickly, you better have a treatment plan. A simple 10-part test can help determine whether you should get a second opinion.

As we look back to the beginning of the year — a lifetime ago, it seems — the economy was healthy and growing, the U.S. stock market was rolling along in a bull market approaching 11 years’ duration, unemployment was at levels not seen since the end of World War II, and personal income and […]

retirement

Retirement plans work for you

Financial Wellness

The investment program you and your employees participate in might not be the same one everyone turns to when it’s time to step away from the practice.

The decision to sell a veterinary practice is loaded with financial considerations, but don’t gloss over the need to clearly understand what you want to achieve. Are you tired? Frustrated? Burned out? At retirement age? Overloaded with management duties? Do you want to maximize the sale price or transfer the practice to an associate veterinarian […]

student loans

How COVID-19 affects your student loans

Conserving cash is a smart move during these trying times even as the government steps in with relief for borrowers.

The coronavirus pandemic is forcing a lot of people to rethink their monthly budget. As more Americans deal with or anticipate unemployment or reduced income, many face hard decisions. The uncertainty is prompting folks to take a close look at their spending. This is a great time to distinguish between wants and needs. You want […]

investment

Enjoy a successful investment experience

Financial Wellness

Following 10 principles will help propel your financial portfolio to the next level.

Are you confused about what to do with your investments given all the turmoil in today’s world? If so, you’re normal. Most busy veterinary professionals lack the interest, inclination, knowledge and experience to manage their investments. Those so inclined would be wise to get a second opinion. A financial adviser should be a fiduciary, meaning […]

How to survive in an uncertain world

Financial Wellness

If you don’t control your money, your money will control you and you will be unable to achieve peace and contentment.

Any given day we are bombarded with news that can terrify. Turmoil with North Korea and Iran, trade wars with China, Russia increasing its nuclear arsenal, to name a few recent headlines. One or all can impact our economy and world security. In addition, political battles between Democrats and Republicans continue to escalate and talk […]

Make effective use of your team

Veterinarians generate active income. The all-important passive income starts with the staff members.

In too many clinics today, compensation for all members of the veterinary health care team is inadequate. Why, on average, do dentists enjoy personal incomes more than double their veterinary counterparts? Why are starting salaries for optometrists nearly twice that for veterinarians? Why do dental hygienists make more than many veterinarians? The good news is […]

Vaccinate against fraud, embezzlement

Your practice likely has fallen victim to a thief or scam artist. Take a few critical steps to prevent a recurrence.

Business is tough. Costs are rising, but revenues are not. Transactions and new-client numbers are flat, and so is the pet population. Unprecedented competition in the pharmacy world threatens a once-solid income stream. Dr. Google is ever more prominent. Veterinarians are anxiously looking for solutions. When things aren’t going in the right direction, revisiting the […]

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