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Getting ready to sell

It is vital to begin planning an exit at an early stage if it is to be a success

The Institute of Chartered Accountants, October 2005.

Not getting the right price for your business when the time comes to sell is the biggest risk that owners face.

Business Link, January 2007.

Myers La Roche offers a unique, fixed price Pre-sale Audit that ensures that when the time comes to sell your business, you:

  1. Maximise the value of your business.
  2. Streamline the sales process
  3. Reduce the selling costs
  4. Minimise the hassle

Who should use this service?

  1. Existing practice owners thinking of selling one or more optical practices, who would like to streamline their business in readiness for sale. This service is suitable for planned exit strategies ranging from 6 months to 10 years.
  2. Existing practice owners thinking of selling a share of a business or taking on a partner who are looking to review the issues and options. This will optimise the proposed partnership arrangement in terms of the fit of the partner and the financial rewards.
  3. Practice owners thinking about compiling a more sophisticated exit strategy. This exercise forms a useful starting point for owners seeking a more planned, comprehensive exit strategy, providing future vendors with the necessary contacts and resources to maximise price, minimise tax and manage wealth.

Why use this service?

  1. As specialists in assessing optical practices , we are able to identify the strengths and weaknesses of your practice. We will recommend changes and improvements that you can introduce now to improve the appeal of your business to prospective purchasers and consequentially optimise the price achieved when you put your practice onto the market.
  2. By restructuring your business, you will improve the speed of sale when place your practice on the market. You will also reduce stress, hassle and improve your experience of the transaction.
  3. Comprehensive & hands on service which covers over 160 key points ranging from the look and feel, the Patient Journey, financial & performance indicators as well as legal and regulatory compliance.
  4. Practical ~ our wealth of experience means that we can identify and advise on solutions for most issues or problems.
  5. Provides an overview of the options available and the pros and cons of each option for practice owners looking to dispose of all or part of their businesses.

Key topics include:

  • When will you really be ready to let go and walk away from your practice?
  • What do you wish to achieve from the sale ~ loyalty to patients, financial security etc.?
  • What is a realistic asking price for the practice?
  • How long will the selling process take?
  • What will happen to your staff?
  • How you should deal with the lease or freehold on the property?
  • What about outstanding equipment leases?
  • What if a new competitor opens inside the catchment area before you sell?
  • Would taking on a partner work for you & what kind of partner could you work with?
  • What special considerations apply to multiple branches, apportioned accounts, rationalisation, etc.?
  • ... and many more.

Our credentials

  1. Our quality service has been recognized and is backed by the AOP. Since 1997, we have been the Association of Optometrists' recommended provider for Optical Practice Marketing & Management Services and Practice Sales. Our marketing and business consultancy services have been endorsed by the AOP since 1991.
  2. Our consultants are fully qualified to advise you on every aspect of preparing your business for sale. If needed, we can call on a pool of external specialists to deal with complex legal or financial issues.
  3. We have carried out more than 600 Audits in the last 25 years. We are the largest marketing and management consultancy that specialises exclusively in the optical market in the UK and Ireland. You will benefit from our extensive knowledge of the marketplace.
  4. We sell more than 50 practices every year. We know what purchasers and their advisers look for and can show you how to present your business in the best light to maximise the appeal. Our involvement often gives purchasers the confidence to proceed.
  5. We work to a Code of Professional Conduct. This means that you can be sure that we will look after your interests. This is supported by £250,000 (€350,000) Professional Indemnity Insurance.
  6. We operate a comprehensive Data Protection Policy. This means that we treat information and data about you and your practice seriously and do not disclose it with out your consent.
  7. We can complete your pre-sale audit in 4 hours and follow this up with a face-to-face, in-depth discussion about the implications with you.
  8. We will leave you with a 160-point plus checklist so that you can begin to take action immediately.
  9. Guaranteed to save you money when you follow our advice or receive a full refund.
  10. Fixed fee of just £600 (€900) per practice, regardless of location or the complexity of the issues that arise. This allows you to budget effectively.
  11. Special rates for AOP members ~ just £550 and AOI members ~ €850.
  12. Further discount of £50 plus VAT, when UK clients upgrade to full membership of the Optic2000 Club. This means that you receive month-by-month performance figures for your practice and unlimited telephone support.
  13. Full refund of when you sell your practice through Myers La Roche.

What to do next:

Call the Optical Practice Sales Team now on 0161 929 8389, to book your Pre-Sale Audit or for more information.