100% finance to buy a second site for your Opticians’ Practice
GET A PERSONALISED QUOTE
- Release wealth from your existing practice
- Cost-effective and tax efficient
- Flexible arrangements
- Use for any purpose
- From 2% above base rate
- Up to 25 years terms
- Interest-only or capital repayment
- Buy premises or existing business
- Provide equipment for your new branch
- Hire Purchase from 6%
- Lease with no upfront costs
- Cover all types of assets
Talk to Rangewell – the business finance expertsBuying a second site and opening up a branch practice may be the best way to grow your business - but it can mean a very large investment. At Rangewell, we can use our contacts across the entire UK lending industry to provide the scale of funding you need.
Are you an optician running a successful practice? What happens when you have filled your schedule? At Rangewell, we have some answers.
With a successful opticians’ practice, you may find that you reach a limit in the number of patients that you can see. After all, there really are only so many hours in the working week to see them. The solution could be to acquire new premises or an existing competitor and set them up as a branch for your practice.
There will be some major costs. Finding new premises in a good location with passing trade, transport links and sufficient space will be expensive. You will need to refurbish it and set it up with new equipment in both the consulting and retail areas. You will also need to find staff, including a qualified ophthalmologist.
You may be able to double your patient list and turnover, substantially increasing your profits. But how can you find the funding to make the necessary investment?
At Rangewell, we work with opticians across the country. We can help find the funding you need when you want to expand your practice.
The costs of setting up a branch opticians
The costs involved in setting up a branch include:
Funding for opticians premises
Premises will be a major cost factor for any expansion plans you may have. You will probably want the traditional solution of premises on the high street, are conveniently sited to attract passing trade, with an ample display area for frames as well as consulting rooms. You may be able to take suitable shop premises on a long-term lease or, alternatively, you might want to buy with a Commercial Mortgage.
Funding to equip your new opticians' shop
Equipment can be a major investment - an OCT system alone could start at £20,000, with costs that keep on going up with every option you add.
Fortunately, there are ways to provide the equipment you need and spread the cost with Asset Finance. It can be the most effective way to get the equipment you need for your shop, consulting room or office – or anywhere else in your practice. Asset Finance is a broad term that covers a range of funding solutions. Hire Purchase lets you acquire equipment and spread the costs in regular monthly instalments over up to 5 years. Leasing works much like a rental agreement. It lets you use the equipment you need without having to buy it outright, with a payment each month to the finance company - making it ideal for equipment you want to update when a better model becomes available.
Acquiring a branch may mean a range of funding requirements that don’t fit a single solution. We can provide Jigsaw funding - a bespoke package made up of the most appropriate type of business funding for each purpose. So you might have Jigsaw Funding made up of Asset Funding for the equipment in your consulting room, a Secured Loan or Commercial Mortgage to acquire premises, and a cashflow solution based on a Merchant Cash Advance, funded by your card takings.
REAL EXAMPLES OF WHAT WE CAN DO
Help arrange a 100% loan for an optician as the basis of an acquisition plan
Find a lender to provide a Commercial Mortgage to acquire premises
Help arrange Asset Finance to equip a consulting room
Help arrange Jigsaw Funding for every stage of an optician’s expansion programme
Find the most effective source of funding to allow an optician to take on a newly qualified ophthalmologist
The finance you need to set up a second opticians' practice
As an optician with your own practice, you can expect to find lenders eager to help you raise the finance when you are ready to consider expansion. Your special status may make it possible to get 100% finance for your plans.
But you need to be sure you are getting the most competitive deal.
At Rangewell, we use our expertise to help find the funding that best meets your needs. We can find the most competitive rates for all types of finance, including Professional Loans, Unsecured and Secured Loans, Invoice Finance, Asset Finance, Commercial Mortgages, Growth Finance and more.
To find out more about setting up the finance you need to grow your practice and open a second branch simply call us. Our experts are ready to help.
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Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.Find Funding
Helping you build your profits
Funding tailored to your needsFunding can be drawn together from several sources and tailored to your needs.
Funding that recognises your statusAs a professional practice owner, you may be able to enjoy preferential rates for borrowing.
No need for extra security with Goodwill LoansGoodwill Loans are secured on the future performance of your practice - there is no need to put your assets or possessions at risk.
Ensuring you have the equipment you needAsset Finance can help you ensure you can equip your new practice to the standards you want, and spread the cost.
Early repayment optionsSome loan providers will accept early repayments, reducing the total cost of your borrowing.
Cutting borrowing costsAt Rangewell we search the entire UK lending market to find the most appropriate solutions for your funding needs, helping you reduce the costs of your expansion plans.
Download Rangewell’s free and detailed guide to business lending
What kinds of business funding are available and which lenders are experienced at providing finance to the opticians sector?
- How can they provide extra funds for you - without reducing funds available for your business?
- Why you must find the right lender to cut costs
- The downsides of borrowing
- Guarantees and security
How important is it to choose a lender that is authorised and regulated by the financial conduct authority?
Find business finance packages for any purpose for optician practices, including to help with cash flow, working capital finance, premises funding or even equipment finance
Is business finance limited to companies based in the UK only?
Will it be hard work to apply for finance? What paperwork you will need to submit with your application
Key financial terms explained, such as credit lines, Asset Finance, Merchant Cash Advance and terms.
An additional commitmentBorrowing may be a long-term commitment, with ongoing monthly repayments which will affect your cashflow.
You may need to repayIf you sell your business, you may need to repay your borrowing.
Borrowing may be a personal liabilityLending will be secured on your practice, but you may be personally responsible for repayment with some types of loan.
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In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
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