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:
From Salaried Optometrist to Practice Owner: Taking the Leap into Independence
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.
Optometry Practice Valuation
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 do I sell my Optical Practice?
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
Keeping Your Optical Business in Focus: Why Regular Valuations Are Essential
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.
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.
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.
International Womens Day 2024
This International Women’s Day we want to encourage more female Optometrists and Opticians to take the first step towards owning their own practice
Optical Insights Salary Survey 2024
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
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.
How To Value a Specsavers Franchise
Specsavers optical franchises are valued via a yield-based valuation methodology.
How To Value a Boots Optical Practice
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
How to Value a Vision Express Franchise Practice
Vision Express franchises are primarily valued via a yield-based/EBITDA valuation methodology.
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
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