Ways in which you can use Opticians Finance

Published on 11th September 2019

From providing a high standard of care to maintaining day-to-day operations, there’s nothing simple about running an opticians in your local area. Nevertheless, many people in the UK require some form of eye care, especially as they get older. But in order to seize upon every opportunity that arises and stay ahead of local competitors, ensuring that you’ve got access to the funds you need to support innovation, advanced technologies and everyday expenses are essential. That’s why more and more opticians looking to grow their business are choosing to apply for Opticians Finance. Providing access to a wide range of funding solutions, Opticians Finance can be used for any number of purposes. But to offer you some ideas on how your practice could benefit, these are just some of the most common uses.

Acquiring Optometrist Equipment

In order to provide the highest standards of eye care to each one of your patients, ensuring that you have access to the latest optometrist equipment, technology, diagnostic tools and IT systems is vital. This can includes Auto Refractors, Volk lenses, Projectors, Field Screeners, Keratometers, Retinal Imaging Equipment, Retinoscopes and frame heaters to furniture and storage units. Naturally, providing a comprehensive level of care to your patients can be very difficult and expensive to achieve, especially for smaller, independent practices. However, with the support of Opticians Finance, you can now spread out the overall cost of equipment, or even borrow it for a limited period time, by applying for products such as Hire Purchase or leasing. If you already own optometrist equipment outright, you can also release the equity that they contain and support further purchases with Asset Refinance.

Looking to invest in the future of your opticians? Got projects you want to get started on, but lack the necessary funds to do so? Apply for Opticians Finance or learn more about how your practice could benefit

Supporting day-to-day operating expenses

Each day that your business opens its doors and provides treatment, you will run up a long list of operating costs, ranging from business tax, utility bills, insurance, staff wages, supplies, repairs and rent to premises taxes. For any opticians, regardless of size, staying on top of these costs can prove an arduous endeavour. But there are a number of ways in which you can succeed. Opticians Finance also grants you access to solutions such as Merchant Cash Advance, Invoice, Overdraft Replacement and Inventory Finance. Terefore, managing your financial obligations needn’t be a strain when you have access to the right support and external funding.

Acquiring or moving premises

To be able to offer your patients the level of care and services they demand, you’re going to need premises. However, with the price of property constantly rising, acquiring premises in a location close to your customers may prove challenging. But there are options available to you. As well as renting, you could purchase property using a Commercial Mortgage. On the other hand, if you already own property but want to move closer to your patients, then perhaps applying for a Bridging Loan might be an option? Whatever your premises requirements, with the help and support of Opticians Finance, there’s no reason why you can’t acquire a solution for your business.

Expansions and renovations

In addition to equipment and location, you also need to think about ways in which your existing property could be improved and made more attractive to your customers. Does the decor in your customer-facing areas need modernising? Are your facilities big enough for your current (or desired) customer base or do they need extending? Or perhaps you need to ensure that your practice complies with the latest rules and regulations in order to continue operating? By choosing to support your practice with Opticians Finance, you could apply for products such as Secured and Unsecured business loans, a Redevelopment Bridge, Redevelopment Mortgages, Mezzanine Loans, Asset Refinance or straightforward Overdraft Facilities. As such, you’ll gain both the confidence and the support to carry out any renovation or redevelopment project, ensuring that your premises meet the high standards your patients expect.

Buying out a competitor or partner

If you’ve established your opticians with the support of business partners or 3rd party investors, you may have had to give away shares (equity) in the business. However, if your partner or an investor chooses to go their own way, you are likely to want to buy back their share. But if you lack the necessary funds to do so, this can cause any number of issues, which is where applying for Opticians Finance could help. Plus, with the support that's on offer, you can even raise funds to buy out a competing optician. By choosing to explore what Opticians Finance could do for your practice, you could benefit from being able to apply for a wide range of funding products, meaning all you need to do now is find an agreement that most closely matches your needs.

Thinking about applying for Opticians Finance?

In order to run a successful opticians practice, making sure that you have access to the funds you need is vital. It’s a responsibility you simply can’t afford to overlook. Whether you’re looking to support growth, innovation or any other goal, it’s something that can really affect your chances of success. Yet despite the necessity, raising funds can be a daunting challenge, if you don’t know how. No matter what you’re hoping to achieve, applying for Opticians Finance could give you access to a wide range of business finance solutions. So if you’re looking at a more convenient location, acquire additional supplies or even gain access to a cash injection, apply for Opticians Finance today or find out more with Rangewell.


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