If you are a practice owner thinking about selling, this is probably the first question that comes to mind. What’s my clinic worth? Can I actually get millions for it like other vets I have heard about? Or is it just wishful thinking?
The truth is, there is no fixed price. Every practice is different. But there is a formula — and once you understand how buyers think, you can start putting the right pieces in place to increase your value long before you list.
Whether you are planning to sell in the next year or just want to be ready when the time comes, here’s what determines how much you can actually sell a veterinary practice for in 2025 and beyond.
It all starts with EBITDA
This is the number that drives your valuation. Buyers do not look at top-line revenue the way you might expect. They focus on EBITDA — which stands for earnings before interest, taxes, depreciation, and amortization.
In plain terms, EBITDA reflects your true operating profit. It shows what the practice earns once you strip out non-operational costs, one-time expenses, and owner-specific items like personal travel or vehicles run through the business.
Why does this matter so much? Because it tells a buyer what they can expect to earn from the clinic once you step away.
How buyers use your EBITDA to determine value
Once a buyer knows your EBITDA, they apply a valuation multiple — usually somewhere between 5.0x and 9.0x depending on the quality of your practice. That number is what drives the actual price.
The basic formula looks like this:
Practice value = EBITDA × Valuation multiple
So if your clinic has an EBITDA of $500,000 and you land a 6.5x multiple, your practice could sell for around $3.25 million.
But those numbers are just starting points. The multiple is where everything gets interesting — and where most of your leverage lies.
What affects the multiple?
Here’s where most owners get surprised. Two practices can have identical EBITDA but sell for completely different amounts. One gets 5.0x. The other gets 7.5x. Why?
Because buyers are not just buying numbers. They are buying what those numbers represent — how transferable the business is, how risky it feels, and how much upside they believe they can tap into post-sale.
Here are the main things that can raise or lower your multiple:
1. Owner dependence
If your entire clinic runs through you — meaning you’re the only doctor, you make all the decisions, and clients come just for you — buyers see that as high risk. On the other hand, if your team can handle day-to-day operations without you, your value goes up. Practices with strong associate vets and systems already in place get better offers.
2. Financial clarity
Your books need to be clean. That means accurate profit and loss statements, a clearly defined EBITDA, and separation between personal and business expenses. If buyers have to untangle your numbers, they will lower their offer to cover the risk.
3. Team strength and retention
If you have loyal staff, low turnover, and a strong culture, buyers notice. Recruiting is a challenge in this industry, so having a reliable team already in place makes your clinic more valuable. If your associate vets are on long-term contracts or clearly committed, that’s a huge plus.
4. Growth potential
A clinic that has room to grow is more attractive than one that’s already maxed out. If you have never marketed seriously, if you only operate five days a week, or if there are services you have not added yet, buyers see opportunity. They will often pay more when they believe they can scale the business quickly after purchase.
5. Location and real estate
Urban and suburban practices with strong demographics usually attract higher multiples than rural locations — simply because of demand and buyer competition. If you own your building and the lease situation is clean, that adds another layer of value. If not, having a favorable long-term lease in place still helps a lot.
6. Type of practice
General practices usually sell in the 5.0x to 7.0x range. Emergency and specialty clinics often command 7.5x to 9.0x or higher. That’s because specialty services are harder to replicate and often have better margins. If your clinic offers niche services, that could push your valuation up.
What about real-world examples?
Let’s say you run a general practice that earns $400,000 in EBITDA, you own the building, and you have one associate on a two-year contract. You’ve never done any serious marketing and the clinic is open five days a week.
That clinic could easily sell in the 6.5x to 7.0x range if the financials are clean and the location is desirable. That would put your total valuation around $2.6 million to $2.8 million.
Now compare that to a solo vet with the same EBITDA, but no associates, inconsistent books, and a short lease. That clinic might sell for 5.0x, or just $2 million. Same profit. Very different outcome.
How long does it take to sell?
The average sale timeline is six to nine months, depending on how well-prepared you are and how active buyers are in your area. It starts with a valuation, then moves into buyer outreach, NDAs, financial review, a letter of intent, due diligence, contract negotiations, and finally, closing.
Most owners wait too long to prepare. If you’re within two to three years of selling, this is the window to clean up your books, document your systems, and reduce how much of the practice depends on you personally.
Can you sell for more than 9x?
Yes — but it is rare. Some specialty practices in premium markets have gone for 10x or even higher, but those are usually clinics with over $1 million in EBITDA, a strong team, and multiple buyers competing for the deal. Most general practices will not reach that level unless they check every box and hit the market at exactly the right time.
That said, adding even one full point to your multiple can change your sale price dramatically. If your EBITDA is $600,000, getting 6.0x vs 7.0x means the difference between $3.6 million and $4.2 million — just for making the business more transferable.
Final word
The answer to “how much can I sell my veterinary practice for” is not just a number — it is a formula. And the good news is, most of the factors that affect that formula are in your control.
You can’t change your zip code, but you can clean up your financials. You can reduce owner dependence. You can make your team stronger. And every small improvement adds leverage when it’s time to negotiate.
If you want to understand how valuations work, how to prepare the right way, and how to avoid leaving money on the table, this guide walks you through the entire process from start to finish. It is written for real practice owners who want to sell smart — not just fast.