Buying an Optometry Practice
Hands-down the best way to improve your income, achieve professional autonomy, payoff school loan debt, and propel yourself forward in your career! Stop making other people money, and start working for yourself!
Buying an optometry practice is an excellent opportunity for optometrists looking to excel in their career and earn 2-3 times the average wage of an employed OD, while achieving professional autonomy and control over one’s schedule. Buying a turn-key practice provides you immediate name recognition, online presence, patient records, and other intangibles like goodwill, loyal and trained staff, working office systems, operating equipment, inventory, and an existing referral network. Buying a practice is much less risk than starting a practice and the prices are not much higher comparatively.
VPG’s team includes attorneys, MBAs, accountants, practice management experts, and doctors with over 70 years combined experience supporting optometrists in optometry practice buy-ins, buy-outs, acquisitions, appraisals, partnerships, and start-ups. Our group has successfully transitioned over 4,000 practices nationwide. We support all phases of the purchase process, many of which are listed below.
Our group has successfully transitioned over 4,000 practices nationwide.
Buyer Registration
If you are interested in learning more about current or future optometry practices listed for sale with VPG, complete the Buyer Registration Form. You will then be entered into our confidential database of prospective buyers, so we know to inform you of any opportunities that meet your needs. The more you elaborate in the form the better we will be able to pair you with good opportunities. Your interest in pursuing practice ownership and any information you provide in the form will remain strictly confidential unless you authorize otherwise.
To ensure you are one of the first to know when this practice hits the market, you should follow/like our Facebook or LinkedIn page and make sure to enable notifications.
Featured Listings
New York Optometry Practice for Sale – Westchester County, NY
Boutique private optometry practice and retail optical store in the heart of the Rivertowns in Westchester County, New York. Located 30 minutes north of Manhattan along the Hudson River in an affluent Westchester suburb. Set up for the past 17 years as a stylish, single-doctor practice with separate areas for exams and retail. Tons of opportunity for growth. Don’t miss this opportunity to immerse yourself in a wonderful community and an existing practice with exceptional goodwill and a loyal following.
- ​OD Practice Price: $399,000
- For Sale By Owner
- Financing Available
- Reference#: #OD489527NY
California Optometry Practice for Sale – San Bernardino County, CA
Affordable private optometry practice for sale in California! Located in San Bernardino County, CA in a desirable and highly rated area to live and work. Over $730,000 in gross revenues with immediate growth and cost-cutting opportunities. EMR converted with over 22,000 records on file. Renovated just five years ago with custom furnishings, spacious open concept optical showroom, and two fully equipped exam lanes. Turnkey opportunity. Owner works only 4 days per week with 3-day weekends! Keep this a lifestyle practice or grow it to be a $1MM practice! Take control of your professional and financial livelihood. Contact us now!
- ​OD Practice Price: $533,987
- Immediate Growth Opportunities
- 100% Bank Financing Available
- Reference#: #OD489526CA
Illinois Optometry Practice for Sale – Greater Chicago, IL
Check out this affordable private optometry practice for sale in the greater Chicago, Illinois area! Located in one of the most highly rated places to live and work in the state and the entire country. Close to $700,000 in gross revenues and $220,000 in discretionary net income with immediate growth and cost-cutting opportunities. The practice is EMR converted with 20,000 records on file. Maintains cutting-edge equipment, including an Optos, with recent office updates, a remodel, and new computers. This is turn-key. Just take over seeing patients and the practice runs itself. No patients scheduled on weekends! Be your own boss, achieve financial freedom, and take control of your future! Contact us now!
- ​OD Practice Price: $533,987
- Immediate Growth Opportunities
- 100% Bank Financing Available
- Reference#: #OD489525IL
OUR SERVICES INCLUDE
Practice Search
VPG lists optometry practices for sale across the US. Our listings are usually fully appraised and vetted before they become available for sale. If we don’t have a listing that suits your needs, complete our Buyer Registration Form, so we know to inform you when an opportunity arises that would be suitable for you.
Practice Appraisal
Our consulting team will conduct a thorough optometry practice analysis, evaluating all aspects of the business to determine if it is priced correctly and worth pursuing further. By completing a thorough review of the seller’s tax statements, balance sheet, cash flow, P&L statements, production reports, and various other data, we will prepare a valuation report that will not only give you details on the practice’s value but become your benchmark reference for the transaction, financing application, and ongoing analysis after the sale has closed. We will include a cash flow analysis to ascertain what your income will look like after the purchase considering any new debt obligations.
Buyer Negotiations
Using years of direct experience and expertise, our team will represent the optometry practice buyer by mediating negotiations throughout the purchase process. After facilitating the buyer and seller’s agreement on terms, we will prepare a Letter of Intent or Offer and Acceptance Agreement setting forth the agreed purchase price, deposit, conditions of sale, financing terms, due diligence terms, lease terms, seller’s warranties, non-compete terms, accounts receivables handling, closing date, transition terms, and definition of seller’s role in the practice after closing including transition training and/or consultation. VPG assists you, your legal advisor, and account in all aspects of the negotiation process providing the skill and expertise necessary to bring the deal to a mutually beneficial transaction between practice buyer and seller.
Written Offer Letter
This is the process whereby an optometry practice buyer submits a formal written offer to the practice seller. This comes after the buyer has had the opportunity to review general practice information, financial statements, and preferably a third party appraisal. VPG will introduce the buyer to lenders by this point to get a better idea of the buyer’s creditworthiness in relation to being approved for a loan to buy the practice. The written offer is commonly referred to as an Offer & Acceptance Agreement, Letter of Intent, or Term Sheet to name a few. The written offer typically is structured as a “non-binding” agreement stating relevant contingencies such as due diligence term and contingency, satisfactory lease contingency, financing contingency, etc. A buyer’s good faith deposit usually accompanies the offer which is held in escrow by attorney or consultant and often remains fully refundable if any of the offer letter contingencies are not met or satisfactory. In exchange for the written offer and deposit, the Seller usually agrees to make available additional practice information/data requests in order for the buyer to complete due diligence. The seller may also agree not to entertain other written offers while in the due diligence period. When a written offer is signed it signifies that the buyer, seller, and consultants are all on the same page with the intention of moving towards a successful closing. This phase is important in any business purchase transaction because it will be the foundation upon which the final binding agreement (Purchase & Sale Agreement) will be developed, while preventing either from incurring unnecessary legal and consulting costs for a transaction that may have never been possible, to begin with. It is critical to have a well-negotiated and well-drafted written offer. During the offer phase, we support offer negotiations and drafting until the final written offer represents the best interests of our client and ultimately supports a mutually beneficial transaction.
Due Diligence Support
After the Letter of Intent is executed, the optometry practice buyer typically enters a due diligence period in which they can query the seller for the most detailed information about the practice in order to make an educated purchase decision. VPG will request the seller provide the buyer all such necessary information, data and reports needed to complete adequate due diligence. We then help you process and analyze this information while negotiating the final purchase agreement.
Closing the Deal
VPG assists the optometry practice buyer’s team of advisers in finalizing a Purchase Agreement. We work with you, the Seller, and all attorneys and accountants in mediating any issues that may arise between the parties. We apply our experience to facilitate closing the transaction with a minimum amount of controversy between the buyer and seller, thus creating a win-win situation for all parties involved.
Financing
VPG assists the optometry practice buyer in obtaining lender and/or seller financing. We provide you support in preparing all the required documentation requested by the lender of your choice to secure the loan. We can introduce you to a network of commercial lenders, specializing in optometry practice lending to help you secure up to 100% financing including working capital funds.
Legal Representation
We will connect the optometry practice buyer with optometric transaction attorneys, experienced in optometric practice sales so you are not paying for an attorney to learn how to do something for the first time! There many unique elements to an optometric practice sale that are unique to this industry vs. others including other health care practice.
Transition Consulting
VPG helps coordinate the transition of the optometry practice from the seller to buyer, including: when and how to introduce the buyer to the staff and patients, a letter mailed to notify patients of the transition, newspaper announcements and press releases, tips on how to answer the telephone after the closing, and how to ease the buyer comfortably and successfully into the practice.
Management Consulting
After a successful optometry practice purchase, we set ourselves apart by offering continued consultation to help you confidently take your new practice to new heights. After analyzing practice data collected during the practice analysis and due diligence process, we advise you on proven methods to grow and improve the practice you purchased. Additionally, we can guide you seamlessly through business registration and filings, insurance impaneling, business planning, cash flow planning, accounting and bookkeeping, inventory ordering, human resource planning, drafting employee manuals, and anything to help you get off to the right start!