If you’ve built a successful veterinary practice, chances are you’ve asked yourself this question — or had someone else ask it for you.
You have mostly likely been approached by a buyer and weren’t sure if their offer was fair. Maybe you’ve seen friends sell and wondered how your practice stacks up. Or maybe you’re just curious what all this talk about private equity and management organizations really means for you.
No matter where you fall, one thing is clear: understanding your practice’s true value is essential — whether you’re ready to sell now, in five years, or never.
What Drives the Value of Your Practice?
The short answer: your EBITDA (earnings before interest, taxes, depreciation, and amortization) — and how reliable and scalable that EBITDA is.
The longer answer? Buyers consider factors like:
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Number of doctors and employee tenure
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Your profit margins and recurring revenue
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Your leadership team
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Client retention, acquisition, and regional reputation
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Facility quality and equipment
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Growth opportunities (e.g. adding services, expanding hours)
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Your own role in the business — and what you would like to do when you sell
Most owners think they can ballpark the number, but we often find they’re way off — in both directions. Some underestimate and leave money on the table. Others aim too high and don’t understand what’s actually driving buyer interest.
What’s the Going Multiple?
Veterinary practices are still attracting strong interest — especially high-performing, general medicine practices (although we have seen demand for specialty veterinary practices as well). Today’s valuations are typically 6x–12x EBITDA, depending on the profile.
An important thing to remember is multiples are changing all the time. One practice might get 7x and another, with the same EBITDA and operating profile, might get 10x. The difference often comes down to how well your story is packaged and how much competition is created among buyers.
That’s where a sell-side advisor like Evergreen can make a massive difference.
Why You Shouldn’t Rely on a Buyer’s Number
Buyers often come in with flashy offers or confusing deal structures. It can feel exciting, but those offers are almost never the full story.
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Some bury unfavorable terms in the fine print.
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Some base their numbers on overly aggressive projections, which can affect your future returns.
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And almost all hope you’ll engage without someone on your side.
Our job is to help you understand:
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What your practice is actually worth in today’s market
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How different buyers might value it — and why
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What you can do to increase that value before you sell
- The path to care continuity and ensuring your team is well taken care of post-sale
- Ways you can negotiate higher offers and better terms
Do You Want Clarity on Your Opportunities?
If you’ve read this far, you’re already ahead of most practice owners. You’re asking the right questions. The next step? Get clarity on what your practice is really worth — no pressure, no strings attached.
At Evergreen M&A, we specialize in helping veterinary practice owners like you understand the market, navigate buyer conversations, and — when the time is right — run a competitive sale process that maximizes your outcome.
We’re happy to give you a confidential, no-obligation estimate based on your financials and market position.
Ready to Talk?
Reach out directly to our president, Gary Behler, to schedule a call:
gary@evergreenforfounders.com
Text or call: (484) 274-9047
Whether you’re ready to sell now or just want to learn more in order to prepare for a future sale, we’re here to help you make the best decision for your future.
Why Evergreen M&A?