Are you planning to transition or sell your veterinary clinic in the next 5-10 years?
Don’t wait until you’re in the latter stages of your career to begin thinking about your veterinary practice transition. Having spent over 20 years representing veterinarians at transition time, we have experienced many unfortunate instances where landlords become roadblocks to clinic sales and greatly diminish practice value.
Selling a Veterinary Practice: What You Need to Know
Start preparing at least 10 years ahead of your planned transition by setting up your office lease properly. Thoroughly review it for risks and have the right negotiation strategy in place to secure a lease that will support your risk-free and peaceful exit out of veterinary health. Considerations in your lease:
Are there clauses in your current veterinary office lease that will reduce the value of your practice in the eyes of a buyer due to the risks they present? Ex. ‘Relocation’ or ‘Demolition’ clauses.
Does your lease have the proper amount of term and/or “options to renew” left to support the purchase price you’re looking for? ‘Term’ is a key component for anyone buying a veterinary practice and financing acquisitions through banks.
Does your lease support a new veterinarian with expansion rights, death and disability, and relocation protection?
Is your lease transferable to a future buyer? Does the landlord have the right to collect proceeds of your practice sale, or terminate your lease?
Veterinary Office Leasing Services
Veterinary Office Lease Review & Rent Analysis | Critical Dates and Risk Assessment
Cirrus Consulting Group offers veterinarians the Critical Dates and Risk Assessment (CDRA), or Office Lease Review, guaranteed to save you time and money. We thoroughly review your veterinary office lease and flag important action dates, risky language, and problem areas, arming you with the knowledge necessary to protect yourself in upcoming negotiations with your landlord. Learn more about our veterinary lease review.
Veterinary Office Lease Negotiation Services
Avoid the endless time and frustration involved in negotiating your own clinic office lease. Cirrus’ professional Lease Negotiators handle the entire process from start to finish. We will create a lease negotiation strategy based on your clinic needs and career goals, representing you in all dealings with your landlord with the expertise of an in-house legal team, commercial real estate analysts, ex-landlords, brokers, and professional Lease Negotiators. Learn more about our professional veterinary lease negotiation services.
Practice Acquisition & Office Lease Assignment Services
Are you considering buying or selling your veterinary clinic? There’s so much at stake through the process of buying or selling a practice, and as such, it’s critical that the ‘assignment of lease’ and other important details occur properly, protecting the interest of both parties along the way. Learn more about our practice acquisition or assignment services.
Standard Form Veterinary Office Lease Creation
Are you contemplating purchasing a property for your veterinary clinic? Let Cirrus create your office lease for you! The lease agreement, even when you own the building, can be a highly valuable or detrimental tool for both your property and your veterinary hospital. Let Cirrus create the office lease for you with the creation of a Standard Form Lease Agreement. Learn more about our office lease creation services for building owners/landlords.