Buying a veterinary practice in Space Coast and Volusia
Space Coast and Volusia has 15 established veterinary practices by our count: companies in business at least 15 years that still file with the state every year and aren't part of a larger group. Of those, 53% have been in business 20 years or more. Most will never be listed for sale, and many of their owners have never been asked.
What it takes to own one
Veterinary practices in Space Coast and Volusia come in every size. Here's what owning one could look like at three levels, from a solid company to one of the leaders, with a small business loan covering most of the price.
- Earns about
- $169,000 a year
- Price about
- $524,000
- Your cash
- $73,000
- Could pay you
- up to $75,000 a year
- Earns about
- $358,000 a year
- Price about
- $1.1 million
- Your cash
- $156,000
- Could pay you
- up to $158,000 a year
- Earns about
- $620,000 a year
- Price about
- $1.9 million
- Your cash
- $269,000
- Could pay you
- up to $273,000 a year
Earnings are owner earnings: profit plus what the owner pays themselves, before loan payments and taxes. They and the prices are our estimates from public records, not the owners' figures, and we value companies like these at about 3.1 times a year's owner earnings. Your cash covers the down payment and closing costs, and what the business could pay you is what's left after the loan payments and the cushion lenders require. The more cash you bring, the further up you can go.
Age, size and location
Revenue is our estimate from public records, grouped into wide ranges.
| In business | Companies |
|---|---|
| Under 20 years | 7 |
| 20 to 29 years | 4 |
| 30 to 39 years | 4 |
| 40 years or more | 0 |
| Estimated yearly revenue | Companies |
|---|---|
| Under $1M | 5 |
| $1M to $2M | 2 |
| $2M to $4M | 1 |
| $4M to $8M | 1 |
| County | Companies |
|---|---|
| Brevard | 10 |
| Other counties | 5 |
What the best veterinary practices have in common
- 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.
What to check before you buy
- 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.
Questions to ask the owner
- 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?
To learn what these companies do, which licenses they need and how ownership works, read our full guide to buying a veterinary practice in Florida.
Owning a company in Space Coast and Volusia
The local economy
This region covers Brevard, Volusia and Flagler counties: Melbourne, Palm Bay, Titusville, Cocoa, Cocoa Beach, Merritt Island, Daytona Beach, Port Orange, Ormond Beach, DeLand, Deltona, New Smyrna Beach and Palm Coast. Brevard's economy is built around space. Rockets launch often from Kennedy Space Center and Cape Canaveral Space Force Station, and aerospace and defense manufacturers and their suppliers employ engineers, technicians and machinists across the county. Port Canaveral is a major cruise port.
Volusia depends more on tourism, beaches and big events, with Daytona's motorsports and motorcycle rallies drawing crowds. Health care and a large retired population matter too. Flagler County, around Palm Coast, is mostly residential. Machine shops, electrical and engineering firms, home service companies, marine businesses and restaurants all have a place here.
What's different about owning a company here
Brevard's fortunes follow the space and defense programs. A company that sells to aerospace firms should be able to show you how many customers it depends on and how secure their work is. Business in Volusia spikes around big events and the winter season, so look at revenue by month.
The whole coast faces storm risk. In 2022, Hurricane Ian brought flooding to much of Volusia, and Hurricane Nicole, which came ashore near Vero Beach six weeks later, washed away beaches and seawalls along the Volusia coast. Beachfront property needs careful insurance and structural checks. The Indian River Lagoon and the St. Johns River make boating and fishing part of daily life, which keeps the marine trades busy. Palm Coast and the Palm Bay area have added many new homes, and companies serving those areas have grown with them.