Practice Start Up Programme

The majority of optical practices serve a local market.  Whilst some patients will travel long distances to visit an ECP, research shows that over 90% patients live or work with ten kilometres of their chosen practice. 

The Practice Start Up Programme is an exceptionally low-cost system of researching the market.  A positive report slashes the risks that you face starting up a business from scratch.  It dramatically improves the chances that your new business will survive the early years and reach a profitable level as quickly as possible.

Our market researchers use information from Government sources coupled with geo-mapping techniques to investigate the catchment area surrounding your preferred location.  They detail the local population by volume, socio-economic and demographic profiles.  The programme also considers practitioners who are already trading in the catchment area.  It estimates the total available market in terms of patient volumes and values.  It advises on the financial suitability of the specific premises you may already have in mind.

We then make one of three recommendations:

1.  You can proceed.  There is ample potential to establish a new business.  The prospects for survival are good.
2.  Proceed with caution.  There is limited potential but the rate of growth might be slow.  Long term growth in the market may rely on an existing practice to close.  It may never be a full-time practice.
3.  Look elsewhere.  Setting up in this location is extremely risky.  A new business is unlikely to survive and you are certain to lose a lot of money in a short period of time.  

A positive Practice Start Up report will give confidence to lenders that your new business is likely to be a success.  Some banks will need an independent assessment of the market before they lend.

Note. The fee is a business expense and can be offset against profits.