Selling Your Practice
The eye care market is changing faster than ever in greater Pittsburgh. Whether you are in Bakerstown, Sewickley, or Butler, change seems to be all around. Our history of independent, small and solo practices have left us vulnerable to corporate entities coming in and consolidating. This happens in many industries. The most recent parallel to eye care is what occurred in the pharmacy industry. There was a time where our neighborhoods were dominated by small pharmacies owned by the pharmacist who was behind the counter. This structure left them vulnerable to larger entities coming in and consolidating. You know the rest of that story.
The outcomes in eye care can be quite different when you are steering the ship and not the victim of circumstance. We seek to support our eye care professionals in making the right choice for them, for you. We don’t claim to have all of the answers, but we do lean toward action instead of observation.
As everyone knows, Private Equity is investing millions of dollars in eye care practices at this time. Is this option right for you? We’d like to help you find out.
If the time is right, and the opportunity presents itself, selling your practice may be what is best for you. It is time to be selfish.
We are building an eye care ‘platform’ in your area. That means 5 or more practices agreeing to sell at the same time. The result? Each practice experiences higher valuations than it would selling by itself. Teamwork! Imagine that. We have interested buyer(s) ready and now need to assemble a set of practices ready for sale. Due to this platform, buyers are offering significantly higher sale prices. Why? At the end of the sale, they do not end up with a practice, but a market – perhaps they are the number 1 provide in your market. That’s worth a lot.
Our process is straightforward, but new to you, so expect it to feel a little foreign.
- You sign a mutual non-disclosure agreement to protect everyone’s confidential information.
- You send us your 2018 and 2019 profit and loss statement and balance sheet.
- We will calculate your estimated sale price at no cost and with no commitment required.
- You review the price and decide of this is right for you.
Read all about this process of selling your practice in our updated Practice Sale ebook. Request your copy by completing the form here.
If selling your practice is not what is best, we also offer information and support to combine with other practices in your area to form a regional eye care provider. We call this process Consolidation, and it is a means of securing the future for your practice. You can read all about consolidation in your market.
Request your copy of our Consolidation ebook by complete the form here.
It’s a Discussion
Regardless of your path, it is a discussion not an event. We welcome the opportunity to discuss your unique practice and your unique circumstances by phone. There is no commitment required. We learn a lot. You learn a lot. Request a phone conference by completing the form here.