January 14, 2018

Can You Afford to Retire? Part Three: Sorry, selling your practice won’t be enough

Will It Be Enough? When planning your retirement, where does your practice sale come in? You’ve worked your whole life building it. Now that you’re ready to walk away, how much is it worth? Will it be enough to retire? Let’s use an example and find out. Assume you are 65 and want to retire...
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December 26, 2017


In Part One I stated that optometry is a great profession, and it can pay your bills, but passive income is what allows you to become independently wealthy.  The trick is to have the discipline to take some portion of your take-home from optometry and invest it where the  money can grow passively. Of course,...
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December 11, 2017

Can You Afford to Retire? Part One: How much do you need?

Can You Afford It? How Much Is Enough? Are you thinking about retiring from Optometry? Can you afford it? How much is enough? Rather than give you a number on how much you need to retire, let’s just talk about some general financial facts about optometry, and retirement. I Prefer The Following Definition We hear...
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October 17, 2017

The Patient Paperwork Problem

Recently, I witnessed an online gripe session of a bunch of optometrists and opticians on a popular social media platform and group.  The gist of the complaint was this: “On which planet does a new patient show up to an office and NOT expect to fill out paperwork?” There were several dozen comments on this...
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September 27, 2017

How Long Should The Owner Stay On?

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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September 20, 2017

Six Myths About Firing An Employee

Six Myths About Firing An Employee Nobody likes confrontation, and it’s natural that we try to find justification for not firing somebody. Following are six myths I hear from optometrists regarding termination. Keep in mind this is being spoken from the viewpoint of an optometrist who owned and operated an office of a dozen or...
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September 4, 2017

Why You Can’t Sell Your $500,000 Practice

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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August 30, 2017

Corporate Practice – What Is It Worth?

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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July 8, 2017

You’ve Got A Price, But What Are You Buying?

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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