Melani Seymour sits down with Adam Christman, DVM, MBA, to talk about a shift happening in younger veterinary practice owners.
Adam Christman, DVM, MBA: We are seeing younger, successful owners selling their practices so what do you think is driving this trend and why is it a myth that selling your practice is only for those "older" or "ready to retire?"
Melani Seymour: It's a great question and we are seeing much younger practice owners looking to sell nowadays. With Transitions Elite, the youngest we worked with is 36 years old. The co-owner was 39 years old. What was really driving them was they came to the conclusion after they stood back one day and really asked themselves, "why?" They had thriving multiple locations and everything was going well. They were comfortable. They had to ask, "how much money did they need to make? How many sacrifices do we need to make? We have young families. What is our why? Is this it? Is this all we can expect for the next 20 or 30 years?" With these younger people focused on quality of life, when you say to them that with one decision you can have it all. You can still continue to be a veterinarian, but have much greater job satisfaction if you sell....Quality of life is really what is driving them.