BUYING OR SELLING AN OPTICIAN BUSINESS? GET THE EXPERT HELP YOU NEED HERE
Working together for the optician industry
Planning an optician business purchase - or disposal? You may need a specialist sales and acquisitions agent
Buying or disposing of an optician practice provides challenges unlike those of a less specialised business.
An optician shop is a specialised professional practice as well as a retail business. Unlike the majority of retail businesses in the high street, there are a limited number of people who can own or operate them.
They also mean a number of additional require requirements must be met if they are to succeed.
A conventional ‘high street’ estate agent with a commercial desk may be able to help you find a suitable property in your target where you could set up a business. However, they might lack the expert knowledge to find a property that matches your needs, and their focus may be on moving a property off their books.
If you are looking for a suitable property or a business to buy, either as a first practice or as a branch which will complement your existing activities, you may need a sector specialist.
As well as providing lists of businesses for sale in your region, agents are frequently able to provide a range of additional services, such as surveys, valuations and reports which can help you support funding applications, planning permission requests and business development planning.
A specialist may also be essential when you are ready to retire or move on and want to sell your existing business.
Sales and acquisition agents can offer bespoke services for new entrants looking to acquire their first property of business; to support you in expanding the business, and realising the maximum value for your investment on its eventual sale.
While both high-street estate agents and general business sales brokers may try to serve the sector, it can save valuable time and avoid costly mistakes if you work with an expert specialising in opticians. They can understand the requirements essential for a successful opticians business, the size of property you need, the location - ideally a high street, not necessarily at the retail hub but certainly with ample passing trade.
They will know the space you need, and the kind of businesses you would feel happy to work alongside.
When dealing with an existing business, they will understand the restriction as well as the potential is might face because of its position.
Sales and acquisitions agents working in the sector can bring expert knowledge of business factors as well as an understanding of the property market. They can help you find the business - or the buyer - that is right for your needs.
They will have lists of businesses and suitable property for sale in your region. They can help you search for the properties and businesses that are right for your plans, and support them with a wide range of additional services.
The Rangewell Opticians Services Directory
We have assembled a directory of people with the skills you need to support your optician business. Whenever you need support, call us for details of the professionals who can help with expertise and services you need:
- Sales and acquisition agents
- Equipment suppliers
- Legal Services
- Media Services
Acquiring the business
Finding the right opticians business, premises or site is often far harder than imagined by newcomers to the business.
It is not simply a matter of buying a property. That property needs to tick all the boxes - size, location, condition and operating costs. Can it be converted to your needs without excess cost?
Similarly, it ‘s not just a matter of buying an existing business. Buying the wrong existing business may expose you to a commitment to high costs, and place a restriction on your future growth.
Whether the first acquisition for a new entrant, a second property for a growing business or the latest addition to a large corporate portfolio - securing the right property and business to meet your requirements can take time and resources.
Your agent should have a list of properties for sale, and be able to advise you about the potential of each one. They may also be able to support your buying plans, with reports and projections which will help you to secure the funding you need. Many will be able to provide a full acquisition service, which will help owners of optician chains ensure they receive alerts whenever a suitable property becomes available.
If you are considering selling your opticians business or considering acquisition, it may be essential to get an unbiased view of its monetary value. This requires experience of the sector and the prices realised nearby, local knowledge and an awareness of current market conditions.
An experienced agent will be able to provide an authoritative valuation - and a recognised practitioner in the sector may be able to produce valuations and reports which will satisfy banks and other funding sources.
Selling your opticians business
You will eventually need to pass on ownership of your optician business.
You could, of course, agree a private sale - but you may be able to maximise the price by offering your business for sale through an agent who can ensure that it is professionally marketed.
Being able to call on expert support and help smooth the process and accelerate your readiness for sale, while minimising the costs involved in the process.
Your agent may already have a list of potential buyers ready and waiting. It could allow you to sell your home in less time, and maximise the return you are able to enjoy.
Finding the specialist sales agents you need
At Rangewell, we work with opticians across the UK. We help them secure the finance they need at every stage, supporting property acquisition and business launch, everyday operations and growth.
This means that we know the professionals providing advice and support to the sector.
Please call us on 020 3936 0069 we will be happy to introduce you to an agent in your region with the skills and expertise you need to take your business plans forward.
Sales and Acquisition agent? Join the Rangewell Opticians Services Directory
Are you a Sales and Acquisition agent working with opticians? Please contact us to discuss being included in our Opticians Database. There is no charge for professionals who wish to be included.
Call us now on our Opticians' Support Line on 020 3936 0069.
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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