Buying a veterinary practice in Jacksonville and Northeast Florida

• More than one veterinarian, so revenue doesn't depend on the owner's own appointment book.
• A growing number of active clients (those seen in the last year or so), with reminders that bring them back.
• A full schedule of dental and preventive work, not only sick visits.
• Equipment that's current and maintained: digital x-ray, in-house bloodwork, dental x-ray, anesthesia monitoring.
• Fees reviewed every year, and every service actually charged for. Missed charges are common in busy practices.
• Technicians who stay, and a practice manager who runs the front desk and inventory.
• A lease or building with room for another exam room.
• A good working relationship with the nearest emergency hospital for after-hours referrals.

• Doctor dependence. Look at how much revenue each veterinarian produces. If the seller produces most of it, the practice's value depends on a long handover and on hiring another veterinarian, which can take a long time.
• The permit record. Look up the premises permit and any discipline on DBPR's license search, and ask for the last inspection report.
• Associate agreements. Read the other veterinarians' employment contracts, pay formulas and any noncompete terms.
• Controlled drug records. Logs, inventories and storage should be in order before you take over.
• Medical records. Complete records back up the client list you're paying for.
• Equipment. Note its age, service contracts and any equipment leases you'd take over.
• Pharmacy and food sales. Online pharmacies have pulled this revenue from many practices, so check the trend.
• Local competition. Practices owned by large groups may be nearby and hiring from the same pool of veterinarians and technicians.
• The seasons. In some areas, clients leave for the summer with their pets.

• How many active clients do you have, and how do you count them?
• How much of the practice's revenue comes from your own appointments, and how long would you stay to introduce clients to the other doctors?
• Do your associates have contracts, and is anyone planning to leave or hoping to buy in?
• Which equipment is owned and which is leased, and what will need replacing soon?
• How do you handle emergencies and after-hours calls?
• How have pharmacy and food sales changed over the last few years?
• When did you last raise fees, and how did clients respond?

This region covers Duval, St. Johns, Clay, Nassau, Baker and Putnam counties: Jacksonville, Jacksonville Beach, St. Augustine, Ponte Vedra Beach, Orange Park, Fleming Island, Green Cove Springs, Fernandina Beach, Yulee, Macclenny and Palatka. Jacksonville merged with most of Duval County in 1968, which makes it the largest city by land area in the lower 48 states.

The economy leans on logistics, the Navy and financial services. Logistics runs through JAXPORT, major rail lines and the meeting of Interstates 95 and 10. The Navy has Naval Air Station Jacksonville and Naval Station Mayport. Insurance and health care matter too. St. Augustine, founded by the Spanish in 1565, and Amelia Island draw steady tourism. Trucking and logistics firms, the building trades, medical practices and home services all fit this market.

Northeast Florida is less seasonal than South or Southwest Florida, with fewer winter residents and more year-round employers. Direct hurricane landfalls have been less common here than on other parts of the coast, but storms still bring flooding along the St. Johns River and the beaches, so check insurance costs and flood zones.

Military families bring skilled workers and working spouses into the labor pool, though they also move on when orders change. St. Johns, Clay and Nassau have added the most new homes, and companies serving those suburbs have grown with them. Georgia is close, and some companies here serve customers across the state line. Work in Georgia may need Georgia licenses, so ask how much revenue comes from there and who holds those licenses.