McDaniel & Scibal Consulting is uniquely positioned to act as your personal business partner as you evaluate buying an optometry practice or joining an existing practice. Book time for a no-obligation phone call with us now.
Purchasing a practice may be the most important financial investment you’ll ever make. You can expect to pay a fair price for a good practice but pay too much and you will be burdened with extra debt for years to come.
The starting point for your buy / don’t buy analysis should be a professional appraisal to determine a realistic range of value when you can still do something about it, before the transaction takes place.
It’s not uncommon for the buyer and seller to rely on one appraisal. However, if you don’t agree with the seller’s appraisal, get one of your own. It’s a huge financial mistake to pay too much because you were an uninformed buyer. Whatever you do, don’t sign on the bottom line until you are comfortable that you know the value of the practice you are negotiating to purchase.