We often say that preparing to leave your business should begin just after you become a business owner! Call it succession planning, retirement planning or exit planning, just how ready are you to take a step back from running your optical practice?? Take our quiz to find out
"What is my optical practice worth?" is a question we hear all the time. It's a natural question to ask, and it's smart business to know the value of your assets, even if you're not planning to sell for years. However, it's also human nature to try and save a few quid, which is where many practice owners stumble
Taking the leap from employee to business owner is a monumental, and sometimes daunting, step. For many aspiring optometrists and dispensing opticians, the dream of running their own independent practice is a powerful one, yet the path forward can seem unclear. Amelia’s story is a compelling example of how careful planning, professional support, and a little bit of self-belief can make that dream a reality:
For many optometrists in the UK, the dream of owning their own independent optical practice represents the pinnacle of their career. The transition from a salaried position to independent ownership is a significant step, filled with both exciting opportunities and potential challenges. If you're considering making this leap, understanding the highs and lows can help you navigate the journey successfully.
An optical business valuation is the process of determining the fair market value of your practice and there are many reasons why a valuation may be necessary. As a meticulous analysis of the various factors that contribute to your practice's overall worth, an optical practice valuation is best conducted by specialists rather than a general accountant.
How and when to sell your optical practice is one of the biggest decisions you will ever make and, with the Optical industry undergoing a period of consolidation, most independent practice owners will be approached by a potential buyer at some point. In our comprehensive guide, Dom Watson of Myers La Roche profiles the types of buyer you may meet and strategies to help you exit your business on your own terms
You know the importance of regular eye examinations for your patients, but have you considered a recall regime for your own business? You already know how a Myers La Roche business valuation can bring clarity to your operation - keeping that valuation up to date is highly beneficial for the long-term health of your optical practice.
Following a structured exit plan designed via our Exit 360 PathfinderTM service we have recently completed on the sale of an optical practice in West Yorkshire.
Having provided specialist optical practice valuations for over two decades, the following guide is designed to provide answers to the questions the Myers La Roche team are most frequently asked.
Megatrends are forces that are reshaping the optical business landscape and the future prospects of independent practice owners in significant ways.
The transfer value of strong, profitable practices is set to rocket over the long-term.
Trading conditions and commercial terms for leases on high streets will continue to evolve, bringing both threats and opportunities to optical businesses.
Privatisation & Shared Care will continue to shake up the standard operating model for independents.
It will become easier and a more enjoyable experience to run your practice.
This megatrend trend could adversely affect your personal wealth unless you get informed on the facts and take appropriate action.
This International Women’s Day we want to encourage more female Optometrists and Opticians to take the first step towards owning their own practice
Recruitment and Retention of high-quality staff is the single biggest issue facing the optical industry in the UK and Ireland today. Our Salary Survey is a chance for your voice to be heard on this key issue
Starting your own business is one of the most rewarding and challenging things you can do, particularly in independent optics where you are likely to be the clinician as well as the business owner.
Our unique relationship with AquAid has also given our company the opportunity to help those less fortunate than ourselves because with each purchase an automatic donation is made to the Africa Trust.
Here at Myers La Roche, we talk daily about value. Not surprising, given that we value over 100 independent optical businesses every year.
Specsavers optical franchises are valued via a yield-based valuation methodology.
Boots Opticians franchises are primarily valued via a yield-based valuation methodology. Myers La Roche have significant experience in valuing all kinds of Optical Practices
Vision Express franchises are primarily valued via a yield-based/EBITDA valuation methodology.
Choosing the cheapest insurance policy can potentially be both short-sighted and expensive
Indecision and procrastination on the timing for a business sale and retirement are common
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