This article provides an overview of the factors that lead to veterinary practice value. People do not enter veterinary medicine with the primary goals of owning and operating a small business. However, those who spend their careers in private practice may start or purchase a veterinary practice. To maximize value, the business must be profitable and carry as little risk to a potential buyer as possible. This article discusses the adjustments a professional valuation analyst is likely to make to calculate profits, the elements that measure risk, and how to mitigate that risk to increase value.