Business Valuation Resources, LLC

Veterinary Practice Valuation: Transactions and Transitions in Today's Markets

Date: Wednesday, September 2, 2009
10:00am-11:40am PT / 1:00pm-2:40pm ET

Earn 2 CPE credits
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Register For:

Teleconference $249.00
On Demand Pack* $249.00
Teleconference and On Demand Pack* $339.00

*Please note: CPE credit is not available through On Demand Packs

Featuring (click image for more information):

Cindy Eddins Collier
Healthcare Valuation Solutions

David Greene
The Vet Broker

Byron Farquer
Simmons & Associates, Inc.

Why You Should Attend

Hear Cindy Collier
describe the program:

(Click to Play - Runtime 3'12")

According to the American Veterinary Medical Association (AVMA), as of 2008 there were nearly 60,000 private veterinary practices in the United States.  Representing a wide variety of specialties, business models, and valuation challenges, these practices are undergoing the same level of Baby-Boomer-related turnover as other industries, while facing demographic changes to both veterinarians and the types of animals they treat – all while facing the uncertainty of today’s market.

On September 2, our all-star panel of Cindy Collier, David Greene, and Byron Farquer will help listeners navigate through the tricky spots of veterinary practice valuations: everything from emerging industry trends and common business practices to finding the right data for your valuation and parsing through the books of any valuation target.  In addition to hands-on examples and case studies, this teleconference will feature the valuation expertise of Cindy Collier (co-editor of BVR’s Guide to Healthcare Valuation), the brokerage experience of David Greene, and the insights of Byron Farquer, a Doctor of Veterinary Medicine and veterinary practice broker.


  • Welcome & Introduction
  • Overview of the Veterinary industry
    • Trends during and despite the recent recession
      • Lending trends
      • Start-up trends
  • Value Drivers and Risk Factors
    • Practice Characteristics
      • Large vs. Small animal practices
      • Transferability of goodwill
      • Community vs. personality driven practice areas
      • Single vs. multi doctor practices
    • Building value within the practice
    • Biggest value "gotchas"
  • Applying valuation methodologies to veterinary practices
    • Asset approach
      • Determining FMV of equipment
      • Marketability discounts in equipment
      • Inaccuracies in balance sheets and depreciation schedules
    • Market approach
      • Limitations in data when using private transaction comparables
    • Income Approach
      • Capitalization discounts
      • Growth rates
      • Adjustments and normalizations of the income stream
  • Q&A

Learning Objectives

  • Understand how differences in practice type affect the determination of value
  • Learn how to properly account for the intricacies of veterinary practices, their income streams, and their equipment
  • Familiarize yourself with recent trends in the industry and how they impact valuation drivers
  • Clarify which valuation approaches work best and why

BVR's Teleconference Usage Policy

Purchase of admission to any of BVR's teleconferences grants ONE phone connection and ONE computer connection per physical location per registration. Additional unregistered phone or computer connections are a violation of BVR's Teleconference Usage Policy, and BVR reserves the right to withhold CPE credits from both registered and unregistered users in violation of this policy.

Group Discounts Available

For group discounts on Teleconferences contact Linda Mendenhall at or (503) 291-7963 ext. 125.

CPE Credits for Unlimited Listeners

Have as many eyes and ears take advantage of your registered connections as possible:CPE credit is available for an unlimited number of listeners to any registered line.

To add listeners for CPE credit, contact customer service ( or (503) 291-7963) with main registrant's name, the names of the persons to receive credit, and their email addresses. We welcome as many eyes and ears to take advantage of those connections as possible.

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group-Live
Recommended CPE: 2 Credit Hours (Consulting Services)

Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.
NASBA Sponsor

On Demand Packs: Conference Recordings & Transcripts

BVR's On Demand Packs are an indispensable addition to any valuation reference library. Use them as training tools as many times as you'd like, wherever you are: play them at your computer at work or home, in your car, or on your personal audio device.

Each On Demand Packs includes:

  • Recordings and transcripts of the presentation
  • All presentation visual aides and handouts
  • All ancillary reading materials suggested by our presenters

For a complete list of available On Demand Packs from past teleconferences, click here.

BVR's Industry Spotlight Series

"Veterinary Practice Valuation: Transactions and Transitions in Today's Markets" is the latest installment of BVR's Industry Spotlight Series, a teleconference series focused on the valuation of specific industries, businesses, and business models. With each new edition of the series, BV thought leaders will guide listeners through the characteristics of the target industry and how to deal with the complications they present to the appraisal process.  The unique, hands-on knowledge gained from BV experts who specialize in target industry will prepare listeners for their next engagement.

Co-Presented By:

BVR's Satisfaction Guarantee:
Business Valuation Resources offers a complaint resolution and refund policy with a 100% money-back guarantee. If you are not completely satisfied with your conference experience, or have any concerns or complaints, you may contact Business Valuation Resources at (503) 291-7963 ext. 102 for a satisfactory resolution of your concern or you may submit a written request for a full refund of this program to Stephanie Crader at: or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.