The Succession Blueprint: 3-5 Years Out from Veterinary Practice Transition

Join us on August 19 at 6:30 PM CST for Part 2 of The Succession Blueprint Series, a three-part webinar series designed to guide veterinary practice owners through the transition journey. This session is ideal for those within a 3 to 5-year horizon—owners who may feel like succession is still a “later” topic, but want to ensure they’re prepared when the time comes.

What You’ll Learn:

Deepening Partner Connections: Learn how to deepen connections and actively identify a shortlist of potential partners who align with your vision and values, understanding that building rapport takes time.
Shaping Specifics: Begin to sketch out a more definitive timeline, clarify desired team involvement, and define the non-negotiables for your ideal partner, transforming vague aspirations into clear objectives. It is also critical to stay informed of new players and changes that might impact partners you’re interested in.
Strategic Growth Runway: Understand how to use this period to optimize your practice’s performance, address inefficiencies, and enhance its appeal to potential buyers, directly contributing to a higher valuation.
Recommended Actions: We’ll cover cleaning up your finances and defining legacy goals, engaging in “light due diligence” to understand buyer expectations, and assessing how clinical pressures might affect your timeline.

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Panelists

Fritz Wood, CPA, CFP

Fritz Wood owns and operates an animal health consulting practice in Kansas City, where his clients include veterinarians and animal health companies. He also has a vibrant personal financial planning practice, helping veterinarians reach their lifetime financial goals. He’s focused exclusively on the veterinary profession for 25 years, serving on the Editorial Advisory Board of Veterinary Economics, Veterinary Team Brief, and Today’s Veterinary Business. In addition to authoring scores of articles related to the business of veterinary medicine and personal finance, Fritz help people reach their lifetime goals as a Certified Public Accountant and a Certified Financial Planner.

Robert Crew, CFP, CFA

Robert Crew is a Financial Planner working at Triune Financial Partners, LLC in Overland Park, KS and has over 30 years of experience in the finance industry. Robert enjoys collaborating with clients who are motivated to reach their goals. Robert has taken additional exams to become a Certified Financial Planner (CFP®). Robert received his Bachelor of Arts degree from MidAmerica Nazarene University and his MBA from the University of Kansas. He also enjoys being a member of the Financial Planning Association and the CFA Institute.

Dr. Kent Thornberry

Dr. Kenneth Thornberry received his DVM from the University of Missouri. He founded both general and specialty practices in St. Louis, MO. His general practice grew to a 17,000 square-foot, full service, 8 doctor animal practice with boarding, daycare and grooming services. His specialty practice grew to a 24-hour emergency and critical care specialty hospital with 11 doctors and six specialties. He sold his hospitals in 2015 and then continued on as Medical Director for 3.5 years.

Currently, Dr. Thornberry is the Co-Founder, President and Chief Veterinary Officer of CareVet. In addition, he co-facilitates a second-year veterinary student course at the University of Missouri, College of Veterinary Medicine, and he is a frequent guest lecturer at veterinary colleges, the Veterinary Business Management Group (VBMA) and practitioner events across the country.