Prepare - Exit Planning for Independent Optical Practices

What is Exit Planning? How does it apply to me? When should I consider preparing my business for sale?

You only get the chance to exit your business once you need to do it right first time.

The decision of how and when to exit from your Opticians Practice, often a lifetime's work, is one of the biggest and most important decisions you will ever make.

Our Exit 360 Pathfinder Service equips business owners to make the right decisions.

It goes without saying that the sale of your practice is not an event you can afford to stumble into based on anecdotal evidence and recommendations from suppliers or peers. Likewise, taking exit advice from an experienced potential purchaser who has approached you is only ever going to favour one party - and it is not you!

Exit 360 Pathfinder is a practical and highly effective tool used to help you as a business owner to:

• Objectively take stock of what you have and to gain a true understanding of your full range of options and key considerations.
• Empower you to select, plan and execute the timing and pathway which delivers on your personal goals to ensure you achieve the optimal exit outcome and maximum value from your business.

Exit Planning Service

Myers La Roche's Exit 360 Pathfinder is an exit planning process that puts business owners into a position of knowledge in key areas, allowing you to make a fully informed decision based on clear facts. The comprehensive Exit 360 Pathfinder report will:

• Provide a technical and a marketing valuation of your business.
• Give you an objective and impartial appraisal of the genuine realisable value of your business, factoring in market and competitive forces.
• Analyse your operating KPIs and your service delivery capacity to determine how effectively and efficiently you are currently running your business and its future upside potential.
• Determine the most appropriate staffing levels across the entire business.
• Analyse the structure and presentation of your accounts.
• Consider your trading style and the portfolio of clinical services you offer.
• Produce a commentary on your product and services pricing strategy.
• Assess your property situation whether freehold or tenancy.
• Analyse your marketing presence with particular emphasis on your online presence: website and social media.

The above detailed analysis results in a series of recommendations on which aspects of your business you should consider improving or re-engineering to add value for when the time comes to sell.

The Exit 360 Pathfinder report also signposts you to the pros and cons of the options available to you as a business owner to help you plot your optimal path to executing a successful exit strategy.

We also provide you with an assessment of the potential barriers to purchase for external parties and provide a plan to proactively address these to ensure maximum appeal to the market and an expedited transaction process once a sale has been agreed.

Common Questions addressed by the Exit 360 Pathfinder service

• What is my practice worth? Can I actually afford to sell?
• What price and sales terms could I genuinely achieve if I went to market right now?
• Are there things that I can do now to make my business worth more in the future?
• What happens to my staff in a sale scenario and when should I tell them?
• Is it possible to reduce the time I spend running my business and still retain it as an income generating asset? (A soft or partial exit)
• Can I trust other parties who have approached me to buy or that others are signposting me to?
• Are there any strategic buyers out there who if I positioned my business correctly may be prepared to pay a premium price for my business in the future?

If you're ready to find out more about your business then please contact our friendly team on 0161 929 8389 or by email for an honest chat to take you through your options.