There are different reasons an optometrist will decide to sell a practice. For Dr. Morris Sheffer, the day-to-day management headaches regarding payroll, inventory and vendor management were becoming too much even though he enjoyed full-time optometry and wanted to continue seeing patients as much as he does and retain his staff.
In his featured article in Review of Optometric Business, the Doctor wrote: “The reasons I was unable to sell to those doctors ranged from lack of interest in sole ownership, or they were too new in practice to obtain sufficient financing. At that point, I knew that my initial transition strategy would need to alter to include selling to a larger entity capable of acquiring the entire practice.”
While the Doctor was able to find a more prominent organization that was able to buy his practice and fulfill his goals, the problem he highlighted remained.
How Has OTC Provided A Solution To This?
There are several uncertainties surrounding buying and selling of optometric practices, and OTC has been at the forefront of solving it. We’ve always believed that with the right system in place, young doctors will be willing to buy practices and old practitioners will also benefit immensely by selling the right way.
Already, we have succeeded in creating a model that addresses the challenges encountered by the doctor who tried to sell his practice in 2013. At the moment, we have already facilitated the purchase of some optometric practices in manners that leave both the buyers and sellers delighted.
We Eliminate Unnecessary Processes And Challenges
At Optometric Transaction Consultants (OTC), we eliminate most of the unnecessary processes that pose a challenge to successful transitioning of optometric practices. Our methods make it possible for new graduates and young practitioners to buy practices by facilitating 100% financing.
We also make the entire process seamless by bringing all the activities involved in buying and selling under one roof. We have a world-class legal team that has been in business for decades and they have already facilitated numerous purchases. Buyers and sellers can be assured that the entire process is done professionally and ethically.
We Offer Professional Guidance, Advice, and Coaching
The major objective of OTC is to ensure that owning a practice is made so easy for those that are interested in buying, and transitioning is made equally simple for those that desire to sell. For buyers, we do not stop at financing and total brokerage, we also offer success coaching for the improvement of the acquired business. For sellers, we will provide fair evaluation, bring more buyers, and simplify the entire process of transitioning.
We are Entirely Devoted to the Optometrist’s Practice
Unlike most brokers you may find while trying to sell or buy an optometric practice, OTC is entirely devoted to the optometric practice and has been a part of the sector for over 50 years, garnering experience in owning, operating, buying and selling of optometric practices.
These years of relevant experience and the efforts of our team of well-to-do professionals will ensure that you have the best experience throughout the process. We will also provide management consulting that will improve the sale value of the practice for sellers as well as management consulting for buyers of the practice to increase revenue and profitability.
OTC has been in operation for years. We have already completed so many deals due to our improved system and hope to help you sell or buy a practice with minimal effort.
Contact Us Today!
For more information about how to sell or buy an optometric practice, contact us today at Optometric Transaction Consultants. Our knowledgeable experts will be available to speak with you and provide adequate answers to your questions and concerns. An amazing experience awaits you!