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Optometry
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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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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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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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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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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Networking is an important component of your marketing plan. It is important for two reasons. It’s cheap It works Networking Is More Than Just Joining Clubs Networking seems to be either highly overvalued or undervalued by many practice owners.  It is worth doing and it does work but it isn’t the holy grail of practice...
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11 Reasons To Celebrate Being An Optometrist Tired of all the bad news about optometry and healthcare?   If you believe everything you read in most of Optometry’s social media outlets, our world is coming to an end: too much competition, too much stress, too many OD’s, not enough compensation, yada, yada, yada. Here are eleven...
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7 Critical Questions When Buying a Practice You went to optometry school to be your own boss. If you’re like most new OD’s, you’ve spent some time working for someone else – either a corporate setting or private practice. Now you’re ready for the next step, and you hear about a practice for sale. Is...
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The Optometry Partnership Sale Formula for Success Should you consider bringing in a partner before selling? In earlier blogs we discussed selling your practice outright. In many cases the best exit strategy is to bring in a partner, maintaining a share of ownership. Advantages of Partnership Sale Here are some advantages: The senior partner shares...
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What Vision Therapy Can Add to Your Practice Vision Therapy (VT) may not be part of your practice today.  If you are considering retirement from your optometry practice, adding VT now opens up a stream of new patients and will enhance your practice value.  I want to thank Dr. Nathan Bonilla-Warford, OD for contributing this...
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