Buying a veterinary practice in Panhandle and North 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 is our largest region by area. It runs from Pensacola east through Milton, Fort Walton Beach, Destin, Panama City and Tallahassee, and down into North Central Florida around Gainesville, Lake City and Live Oak, with many rural counties along the way. We also include Hardee County, around Wauchula.

The economy has several anchors. The military is a big one, with Naval Air Station Pensacola, Eglin Air Force Base, Hurlburt Field and Tyndall Air Force Base. Tallahassee is the state capital and home to Florida State University and Florida A&M University, and Gainesville has the University of Florida. The beaches from Pensacola to Panama City Beach, including Walton County's coast, draw summer visitors. Inland, timber, farming and small manufacturing matter, and towns like Apalachicola and Cedar Key make their living on the water. Contractors, defense and government service firms, restaurants, lodging and farm businesses all have markets here.

Plan for distance first. Pensacola is closer to New Orleans than to Gainesville, so most companies serve one local area, and you should know exactly where the customers are. Most of the Panhandle west of the Apalachicola River runs on Central time, an hour behind Tallahassee.

The beach season peaks in summer, the opposite of South Florida, while Gainesville and Tallahassee slow down when students leave. Hurricanes have hit hard: Michael came ashore near Mexico Beach as a Category 5 in 2018, and Idalia in 2023 and Helene in 2024 struck the Big Bend coast. Military base budgets and state government spending matter to many companies. Near the Alabama and Georgia lines, ask how much revenue comes from across the border, where other states' licenses may apply. Rural counties have small labor pools, so a company's key employees matter even more here.