Preparing for a Veterinary Practice for Sale: Client Retention Strategies

If you’re preparing to sell your veterinary practice, there’s a lot to consider. You should have your financials in order, ensure your premises are attractive and well-maintained, and take a close look at your client base. An extensive, loyal client base is an essential part of drawing any potential buyer’s eye, but that buyer will want some level of assurance that those clients will stay on after the sale.

Before you start the process of selling your business, you should make sure you have a reliable client retention strategy. Here are some proven strategies to consider.

Evaluating Client Base

Before you start the process of selling your business, take a close look at the clients you have to identify their risk of leaving your practice. One way to do this is to look at your “churn rate,” or the percentage of clients who stop coming back after a certain period of time. You can then look for common characteristics of clients who leave and use that to guide your strategy going forward.

For example, suppose that you take a look at the clients who have stopped seeking your services. You see that nearly all of them are reptile owners. In this case, you could evaluate potential factors that may be driving reptile owners away from your practice and try to fix them. For instance, if you don’t have any veterinarians on staff who specialize in reptiles, you might consider bringing one on.

Enhancing Client Relationships

One of the best ways to build customer loyalty before selling your business is to make sure your clients and their animals have a positive experience each time they visit your practice.

There are many ways to do this. One is to make every effort to ensure clients see the same veterinarian each time they visit. That way, they can build a rapport — and clients who feel connected to their veterinarians are less likely to seek care elsewhere.

Even seemingly small touches can enhance the client experience. For instance, if veterinarians or vet technicians make an effort to explain each element of the visit and why it matters, the owner will feel more at ease. A technician might explain that a blood draw is necessary to check kidney function or that the animal’s temperature is normal.

Marketing the Practice

Often, successful client retention strategies come down to good marketing. The idea of marketing your business to clients you already have might seem foreign, but when executed properly, the right strategy can encourage your current clients to stay — and even to refer their friends. These are some of the strategies to implement before selling your business:

• Referral Programs: Incentives might convince current patients to introduce friends to your practice
• Text and Email Reminders: These can help forgetful clients continue to bring their animals in
• Client Experience: Optimizing clients’ time at your practice can keep them coming back
• SEO Marketing: SEO-focused blog posts can help potential clients find you online

This list isn’t exhaustive — if you’re working with a business broker, they may be able to help you come up with personalized client retention strategies.

Ready to Begin Selling Your Business?

Developing client retention strategies is just one part of preparing your practice for a sale. The pre-sale process is a critical time, and the help of a business broker can be instrumental.

At Sunbelt Business Brokers, we’re committed to guiding owners of small and medium-sized businesses through the process of selling. We can help you ensure a profitable sale. Check out our free business valuation calculator for an estimate of your practice’s value, or contact us to get started today.