Practice business advice
Advice concerning practice performance, structuring of veterinary partnerships, timing of partnership changes, performance measurement, marketing of practice services etc. For initial discussion on these subjects contact Graham Middleton – if unavailable contact Jenny O’Brien 03 9843 7777 to make an appointment for a face to face meeting or telephone conference – charges apply.
Saving money on life insurance
Many vets have been sold inappropriate level premium policies which are unnecessarily expensive. In reality successful vets gradually reduce their need for life insurance as their assets including superannuation increase and can therefore reduce the amount of cover they have. Cheaper life insurance cover will meet their needs. Speak to Cameron Darnley, the Synstrat partner who deals with life insurance to determine whether you can save money through a better deal.
Don’t practice in the dark – Practice performance benchmarking
Following the production of veterinary practice accounts by our team of accountants we benchmark our clients’ performance against the continually updating database of veterinary practice performance from an Australia wide clientele of veterinarians. We maintain separate databases for small animal and mixed animal practices.
Does your accountant understand your veterinary practice?
Many vets practice in isolation with no idea as to how their practice compares with other vets. Many accountants have only one or two veterinary clients and give inappropriate guidance by comparing their performance with miscellaneous small businesses whose performance is irrelevant. If you’re in the dark speak to Graham Middleton 03 9843 7777. We will analyse your issues and guide you to a Synstrat accountant suitable to your needs. For appointments with Graham, speak to Jenny O’Brien 03 9843 7777. Charges apply.
Veterinary practice valuations
A valuation may be required because you’re considering buying or selling a practice or becoming a partner in a practice or selling part of a practice or need to provide comfort to a bank lender or to resolve a dispute between veterinary practice owners. Speak with Graham Middleton or David Collins 03 9843 7777 or if unavailable speak to Jenny O’Brien who will arrange an appointment for a telephone conference or face to face meeting.
Family Law Valuations
Unfortunately vets are not immune from relationship breakdown. We have many years’ experience in providing joint valuations in accordance with Family Court requirements. Our valuations invariably stand up to scrutiny as being both thorough and objective and result in the value of the veterinary practice being agreed by the parties. You cannot afford to appoint a valuer who is not experienced in valuing veterinary practices or to allow your lawyer to appoint a valuer who is not experienced in valuing veterinary practices because invariably valuations from inexperienced valuers are subject to challenge by the other party. For further information speak with Graham Middleton or David Collins 03 9843 7777 or if unavailable speak to Jenny O’Brien who will arrange an appointment for a telephone conference or meeting with Graham or David.
Many financial planners belong to banks or other major organisations and have no idea how to integrate your veterinary practice performance, your veterinary practice premises and your tax planning into an overall financial plan. Much of their advice can be inappropriate and actually result in holding back the rate of veterinarian’s financial improvement. Synstrat is experienced in assisting vets. Speak with Graham Middleton, Cameron Darnley or Roger Armitage. Appointments can be made via Jenny O’Brien 03 9843 7777.
The Synstrat Group
The Synstrat Group consists of two companies, Synstrat Accounting Pty Ltd and Synstrat Management Pty Ltd. The latter is the holder of Australian Financial Services Licence number 27169. Both companies have the same shareholders and directors and the distinctions are for licencing and regulatory purposes.
Vets may obtain the following two booklets which can be obtained free:
50 Rules for financial success as a veterinary surgeon and
Buying and Selling Veterinary Practices.
For more information on these or many other topics affecting vets, please visit our website and look through our Veterinary Publications - LINK: http://www.synstrat.com.au/veterinary_publications
Best wishes to all Vets.