The transaction involved a separation of assets comprising a domiciliary business, traditional practice and separate freehold buildings of mixed usage.
We assisted with the sale of the domiciliary and practice element to 2 different parties, with the physical practice being relocated and merged with another local independent. Our client will now go out to the wider property market to sell the residential and commercial freehold elements.
As part of the deal our client has been retained on a part-time consultancy basis at the merged practice. This will allow him to transition gradually towards retirement whilst enjoying more mid-week long walks in the beautiful Yorkshire countryside.
Exit planning and optical business sales can involve many different strategies.
This transaction is a classic example of a situation where the separate individual assets were worth more than the whole. However this is an exception rather than the rule, highlighting how important it is to get the right advice at an early stage.
Exit Planning is about more than just selling your business though, many clients use our Exit 360 Pathfinder service to decide on strategies for practice growth and to ensure they are running efficiently and making the most of the latest business know-how.
It is this variety and the satisfaction of adding so much value for our clients that makes our exit planning and brokerage teams here at Myers La Roche love our work so much - call us for a confidential chat about your business or email our team to learn more
More insights for you
Take a read below for further industry insights written by our Myers La Roche team:
The 5 megatrends set to shape the future of the independent optics and how to harness them in your practice
Megatrends are forces that are reshaping the optical business landscape and the future prospects of independent practice owners in significant ways.
Megatrend One: Significant Inflation in practice values
The transfer value of strong, profitable practices is set to rocket over the long-term.
Megatrend Two: "Islandification" and Trading Location Evolution
Trading conditions and commercial terms for leases on high streets will continue to evolve, bringing both threats and opportunities to optical businesses.
Megatrend Three: Increasingly differentiated operating models in the independent sector
Privatisation & Shared Care will continue to shake up the standard operating model for independents.
Megatrend Four: Improving ease of ownership and operational experience
It will become easier and a more enjoyable experience to run your practice.
Megatrend Five: Suppliers are Not Necessarily The Best Advisors When Selling Your Business
This megatrend trend could adversely affect your personal wealth unless you get informed on the facts and take appropriate action.
Thinking of Starting a Practice From Scratch
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.
Giving something back whilst staying hydrated
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.
What's The Value of Your Commute?
Here at Myers La Roche, we talk daily about value. Not surprising, given that we value over 100 independent optical businesses every year.
Optical Practice Valuation Guide: Expert Tips and Insights
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.
Choose the right insurance policy for your optical practice
Choosing the cheapest insurance policy can potentially be both short-sighted and expensive
The Perils of Short Cuts, and Trying to Take the Easy Route
Indecision and procrastination on the timing for a business sale and retirement are common
Optical Insights Salary Survey
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
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