Category

Appraisals
There’s Never Been A Better Time Are you thinking of retirement? You’re in luck! There’s never been a better time.  And if you’re like most people, retirement doesn’t mean sitting on a rocking chair the rest of your life. Most likely,  what you’re looking for is flexibility. Sun America conducted two telephone surveys – in...
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Ten Years Out – 6 Things You Can Do Now I recently appeared on a blog by Nate Bonilla-Warford about how to prepare for selling your practice. Practitioners often find themselves in a position where they are ready to retire but can’t find anyone interested in buying their practice. They end up closing their doors...
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For Small Practices, The Quicker The Better Are you thinking about buying someone’s solo practice? One important question to ask the seller: “Do you need to continue to work?” If the seller is financially dependent on working at the practice, it is a serious red flag. For most single-doctor practices, the seller should go as...
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Can You Sell Your Small Practice? A lot of you OD boomers are ready to slow down. You’ve spent 30 years building up a nice practice and decide it’s time to sell. But if you’ve got a small practice, which I’m going to arbitrarily call $500K or less, you may be disappointed. It may be...
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Why It’s Hard To Sell A Corporate Practice As baby boomers get ready to slow down and retire, I have been getting an increasing number of requests from OD’s who have practiced in retail settings to appraise their practices and help them with their exit strategy. What I have come to realize is that the...
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The Difference Between – Stock Sale Vs Asset Sale Very often, someone will call me and say “I am interested in buying a practice. The owner gave me a price of $XX. Is that a fair price?” My next question is usually followed by silence. I ask them: “Is it a stock or asset sale?...
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How Should You Price It So you’re thinking about selling your practice. How should you price it? The higher the better, right? Well, not so fast. According to business broker Jim Stauder the value of most small businesses can usually be established in a pretty tight range (within about 10%). Setting a price too high...
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11 Reasons To Celebrate Being An Optometrist Tired of all the bad news about optometry and healthcare?   If you believe everything you read in most of Optometry’s social media outlets, our world is coming to an end: too much competition, too much stress, too many OD’s, not enough compensation, yada, yada, yada. Here are eleven...
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“Hey John, Can you give me a ballpark figure on how much my practice is worth?” This is one of the most common questions I get asked as an appraiser.  Like most things, there is no quick and easy answer. Appraisers Use Rule of Thumb While some appraisers like to use rules of thumb such as one...
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7 Critical Questions When Buying a Practice You went to optometry school to be your own boss. If you’re like most new OD’s, you’ve spent some time working for someone else – either a corporate setting or private practice. Now you’re ready for the next step, and you hear about a practice for sale. Is...
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