Reviewed by Marie Lokmanyan, Senior Loan Consultant · Updated
Note: Rates, fees, down payments, valuation multiples and lender details below are general market information gathered from public sources, not a quote or offer. Your actual terms depend on the lender, your credit, the practice's financials and market conditions. Confirm current terms with the lender before you rely on them.
Finding the right practice is often harder than financing it. Good clinics frequently change hands quietly, and the ones on public listing sites are not always the best opportunities. Here is where to look, what to check before an offer, and how to pay for it.
Where veterinary practices for sale are listed
- Veterinary practice brokers. Firms that specialize in veterinary sales keep listings and private buyer lists. Register with several in your target region and say clearly what you want: size, species mix, location and budget.
- General business-for-sale marketplaces such as BizBuySell carry some veterinary listings, usually smaller clinics. Details are thin until you sign a confidentiality agreement.
- State veterinary medical associations. Many run classifieds where owners advertise practices and partnership openings.
- Your own network. Owners near retirement often prefer to sell to a known associate. Relief work, CE events and local VMA meetings put you in front of them.
- Partnership models. If you'd rather not buy outright, programs like GoodVets, Petfolk, Thrive and Banfield offer partial ownership. Compare them on our ownership paths page.
We are not affiliated with any broker or listing site mentioned here.
See what your practice could qualify for
Tell us what you are funding and we’ll connect you with a financing partner who works with veterinary practices. Free, and checking options won’t affect your credit. Compare options in our guide to practice acquisition loans.
Evaluating a practice before you offer
Ask for these early, under a confidentiality agreement:
- Three years of tax returns and profit and loss statements, plus year-to-date figures
- Production by doctor, so you can see how much revenue depends on the seller
- Active client count, new clients per month and average transaction
- The lease, including remaining term, renewal options and assignment clause
- An equipment list with ages, and any planned replacements
- Staff roster, tenure and pay rates
Then compare the asking price against the practice's adjusted profit. Our valuation guide explains the normalization that turns the seller's numbers into what you would actually earn.
Making the offer
A letter of intent (LOI) sets price, what's included (equipment, inventory, real estate, records), the seller's transition period, any non-compete, and conditions such as financing and due diligence. Make financing approval a condition. Common structures that bridge a price gap include a seller note (the seller finances part of the price), an earn-out tied to future revenue, or a longer paid transition for the seller.
Financing the purchase
Most individual buyers finance a practice with one of three loans:
| Option | Best for | Equity needed |
|---|---|---|
| Specialty practice lender or bank practice team | Established, profitable practices; buyers with strong DVM experience | Sometimes none for qualified buyers |
| SBA 7(a) | Buyers with less cash, or deals that include working capital | Commonly 10% for a change of ownership |
| SBA 504 plus a practice loan | Purchases that include the building | Usually 10% to 15% of the real estate |
Getting pre-qualified before you tour practices tells you your real price range. Our acquisition loan guide covers the full process from LOI to closing, and the low down payment guide explains when 0% to 10% down is realistic.
Types of veterinary practices you’ll see for sale
| Practice type | What to look at closely |
|---|---|
| Companion animal general practice | Doctor production split, active clients, lease terms and local competition |
| Mixed animal or rural practice | Large-animal revenue share, vehicles and ambulatory equipment, after-hours call coverage |
| Equine practice | Seasonality, ambulatory vs. hospital work, specialized imaging equipment |
| Emergency or specialty hospital | Staffing depth (24/7 coverage), referral relationships, equipment replacement needs |
| Mobile or house-call practice | Vehicle condition and ownership, scheduling software, how tied clients are to the current DVM |
Red flags in a listing
- Revenue depends on the seller. If the selling DVM produces most of the revenue and wants to leave right away, clients may follow them out the door.
- A short lease without renewal rights. Lenders usually want the lease to run at least as long as the loan, or a clear renewal option.
- Financials that don’t reconcile. Practice-management reports, P&Ls and tax returns should tell the same story.
- Deferred equipment replacement. Old imaging, anesthesia or dental equipment can mean a large purchase soon after closing.
- Staff turnover or open DVM positions. Hiring associates is one of the hardest parts of running a practice.
- A price set by a corporate offer. Check that the cash flow can support a loan at that price. See our valuation guide.
From search to closing: the usual steps
- Get pre-qualified so you know a realistic price range.
- Register with brokers and tell colleagues what you are looking for.
- Sign a confidentiality agreement and request financials.
- Review the numbers, visit the practice and meet the seller.
- Submit a letter of intent with financing and due diligence conditions.
- Complete due diligence (financial, legal, lease, equipment, staff) and get a formal valuation if the lender requires one.
- Get the loan approved, sign the purchase agreement and close.
- Follow a transition plan with the seller to keep clients and staff.
Our acquisition loan guide explains what lenders review at each step, and what assets lenders look for covers collateral.