We also work hard to ensure that every piece of consultancy work we deliver gives maximum value to our clients so that they can subsequently realise the full value of their business.
But what about the value of other things related to our daily working life?
Work/life balance is a much used phrase and one thing that can really affect that balance is our daily commute. This is something I pondered earlier this week as I squashed onto a SouthEastern rush hour train, with a shoulder bag, overnight wheelie suitcase, a shopping bag containing dinner for two and a large bunch of flowers!
I was on route to visit a client in deepest Kent the following day but the location was conveniently close to the home of my mother-in-law, meaning I could fit in an overnight visit rather than staying in the usual soulless hotel; hence the M & S Dinner for Two and the flowers.
On arrival at London Victoria, I found there had been a ‘police incident’, a landslide and emergency engineering works on the line. As to be expected, the concourse was jammed. Tannoy announcements rang out every few seconds with Network Rail apologies and imploring patience from travellers. I was lucky and before too long, I was able to board the aforementioned train.
For many of you, this situation will be a daily occurrence; it was for me when I lived and worked in Central London a couple of decades ago. But now I am lucky! The Myers La Roche office in Altrincham is less than 2 miles from my home.
So, when I’m not visiting clients, I can walk within 30 minutes, each way helping towards my daily Fitbit’ Step goal and listening to my favourite podcasts. 30 blissful minutes of ‘me time’, twice a day. If it is raining or my teenager needs a lift at the end of the day, I can drive, park and walk from the parking place and still be in the office within 15 minutes of leaving home.
The personal value of living in this close proximity to my place of work is huge. Not only do I have minimal travel costs, being able to be back at home rapidly at the end of the day offers enormous well- being benefits for me personally, and helps our family life to run much more smoothly than if I had an hour or more commute by public transport or car.
The short distance pushes the balance firmly back in the court of ‘life’ after a busy day in the office and to me that value is priceless.
It’s still January - just. Mornings are still very dark and it’s already dark at the end of the working day too. There seems to be a different storm every day. Many of you will be considering your next steps either in practice ownership or making the next move in your career. When contemplating your options, I urge you to consider more than the financial aspects.
Maybe you're a locum who travels too long in too many directions in any one week. We've worked with numerous First Time Buyers who have bought a practice in their home town in order to remove a tiring commute & improve their quality of life - and we've witnessed the positive benefits such a move can make!
Maybe you're a successful established owner and you want to take a day out of the Practice and reclaim your weekends. It may sound like a pipedream, but we've worked with owners to make this very change happen. Plan to make your Practice work for you - rather than the other way round! With positive planning, you can make changes which benefit both your patients, practice and home life.
To help get you started, why not call or email us to schedule a quick discovery call. One of our friendly team will chat through your options and give you an honest overview of how we might help you achieve the balance you desire.
More insights for you
Take a read below for further industry insights written by our Myers La Roche team:
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.
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.
Case Study: The benefits of exit planning to achieve an optimised sale within the optical sector
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.
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.
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
Get in Touch
If you are interested in our services, then please call us on the number below: