UF veterinary student wins national business aptitude award

Erin Sole

Erin Sole

By Sarah Carey

A University of Florida veterinary student has won a national competition focused on the pursuit of business excellence in the veterinary medical profession.

Erin Sole, a fourth-year student at the UF College of Veterinary Medicine, was named the winner of the National Simmons Educational Fund Business Aptitude Award in January during the national Veterinary Business Management Association’s annual meeting in Orlando.

The award consists of $15,000 and is awarded through a competition between individual school winners, all senior veterinary students, from veterinary colleges nationwide and overseas. She was selected from among 19 national and international candidates. The purpose of the award is to bring attention to the importance of business education in veterinary practice.

Individual school winners competing for the national award were charged with solving a case study relating to current challenges in business ownership and practice management. The case study focused on a business owner interested in selling a practice, and a young associate veterinarian interested in buying it, but with multiple high-value corporate offers also in play. The goal was to develop a creative solution to satisfy the associated interested in buying the practice, while also maximizing profit from the sale.

“For my solution, with the immense help and advice of members of the veterinary finance community, I presented a partial sale option in which the associate purchases 80% of the practice, and, together with the owner, is able to grow the practice so that the value continues to increase,” Sole said. “Through the initial sale, combined with earnings for the retained 20% ownership over 10 years and final sale after 10 years, the owner is essentially able to recover equivalent profit to the top corporate offer.”

Dr. Martha Mallicote, a clinical assistant professor of large animal clinical sciences at UF and an instructor in the college’s business certificate program, said the award reflected the substantial work Sole has put into the business certificate program and the marketing project she submitted.

The college’s business certificate program offers veterinary students a means of strengthening their exposure to the business aspects of veterinary medicine through completion of a series of courses and a summer practice externship.

The award is funded through the Simmons Educational Fund, a nonprofit corporation founded in 2002 by Simmons and Associates, a company that specializes exclusively in veterinary practice sales, valuations and negotiations.

“Every year Simmons and the SEF continues to be impressed with the quality and amount of work the applicants put into the case study submissions,” said David King, D.V.M., a fund trustee. “It is an absolute pleasure to review the submissions and appreciate the incredible creativity of business ideas some have demonstrated. These future D.V.M.s will no doubt be leaders in our industry.”


Share this article with others:
  • E-mail this story to a friend!
  • Facebook
  • Digg
  • Twitter

January-February 2020

Gator Day

Way to Give, Gators!

On Giving Day, Feb. 20, 2020, gifts poured in to support many UFCVM initiatives, from Aquatic Animal Health to Shelter Medicine and more.

Girls from Girl's Place get hands-on training in clinical techniques through How We Role program

New program teaches community girls about veterinary medicine

The “This is How We Role” program is supported by the Science Education Partnership Award, administered through the National Institutes of Health.

Danielle Ammeson and Dr. Morton

Horse beats odds, is back in the show ring, thanks to UF veterinarians

Thanks to care at UF’s Large Animal Hospital and his committed owner, the 9-year-old American Warmblood survived a life-threatening injury and bacterial infection in his hock.

Dr. Jere Stern

Pathology resident honored for scholastic achievements

A third-year clinical pathology resident at UFCVM has received the prestigious C.L. Davis Student Scholarship Award, presented annually by the American College of Veterinary Pathology.

Dr. Chris Sanchez

Longtime faculty member named interim associate dean for clinical affairs

Dr. Chris Sanchez will lead the UF Veterinary Hospitals in her new role.

Erin Sole

UF veterinary student wins national business aptitude award

The National Simmons Educational Fund Business Aptitude Award winner is chosen annually through a competition between individual school winners, all senior veterinary students, from veterinary colleges nationwide and overseas.

Goat cart

New cart will aid transport of small ruminants throughout hospital

The new “Hart Cart” will create better mobility of small ruminant patients throughout the hospital.

Group shot with Neo

Saving Neo: UF veterinarians revive dog on Christmas Day

UF veterinary emergency specialists saved a young French bulldog and took steps to ensure he would have the very best chance at a full recovery.

Dr. David Freeman

Unique colic surgery course draws international participation

Participants from 10 different countries attended the 4th International Colic Surgery Conference and Laboratory, held Dec. 5-7 at the UF’s College of Veterinary Medicine. Dr. David Freeman, a professor of equine surgery at the UF College of Veterinary Medicine, developed the unique course.

...also in this issue



Around the College