Selling Your Optometric Practice

Selling your optometric practice? In the perfect world, you’ve already worked with someone to establish your long-term plan, look at all tax considerations, and explore various sell opportunities. You have taken the two to five years before the desired closing date to dream about the next stage in your life, and you are filled with joyous anticipation.

But let’s face it – most of us get to our selling point out of stress and frustration. Sometimes we have to sell because of poor health or disability. Usually, the need to sell your optometry practice arises out of forces beyond your control. Fear, anxiety, helplessness, anger. Sadly, many come to the selling table less than excited and not nearly as prepared as they should be.

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Common Questions About Selling an Optometric Practice

You probably have a lot of questions. Here are some of the most common we hear from optometrists selling their practices:

How do I maximize the value of my business?
How do we find a buyer?
How do we ensure a smooth transition?
How can I minimize tax on the sale of my optometry practice?
How do I manage my business proceeds to ensure I have enough to retire, without running out?

Sound familiar? We hear you. Roxanne had all the same questions and more when she sold her optometry practice. Unfortunately, she didn’t have anyone to give her the advice she so badly needed.

That’s why C3 Wealth Advisors was born. To ensure you get the information you need for a bright future. We’re here to help you understand the hard and soft factors around selling your professional practice.

The Hard Factors When Selling Your Optometry Practice

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Numbers matter. Understanding your numbers, your needs, and what your sale profits need to do for you are critical to moving through this stage of life successfully. We review your lifestyle and legacy needs and show you how your money will play out in the next stage of your life.

Together, we’ll review taxation, purification, lifetime capital gains exemption, sources of future income and how your life’s work will now support your dreams. We look at the numbers and review various options and choices you have, so you can make informed decisions and understand their impacts.

The Soft Factors When Selling Your Optometry Practice

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There isn’t a transition in life that doesn’t involve emotions, and as Glennon Doyle wrote, “Feelings are for feeling.”

Selling your optometry practice is a big deal, and we need to prepare you. We will walk you through discussions around the family implications of this decision, your desires for the ideal purchaser, and most importantly, how you will handle your “fall from high.”

P.S. You are still a doctor after the sale, you just aren’t your patients’ doctor anymore.

Lawyers, Valuators, Accountants, Oh Boy!

As your personal CFO, Roxanne is here to help you navigate with all the players involved in creating a successful business closing.

As 75% of business owners profoundly regretted their decision to sell just 12 months after selling¹, it is essential that you have someone on your side to ensure you know what questions to ask, get them asked and answered, and manage all the moving parts to ease the burden and ensure the next stage of your life is happy and rewarding.

¹PriceWaterhouseCoopers 2013

We have enjoyed and trusted Roxanne since we started doing business with her some five years ago.  Over that period of time, Roxanne has expanded her knowledge and association with some great investment minds.  Confidence is required in any relationship, and we are confident with Roxanne and her team even in these volatile times.  We are looking forward to a great future.

Estate planning to me was a daunting and stressful task. I knew it had to be done but where do I begin? How do I divide my estate? To whom? How much? The list goes on. However, lucky for me my estate planner, Roxanne Arnal has my back. What an enormous relief to have a person who knows the right questions to ask and delves into areas you had no idea existed. In the end, having an estate planner and having a plan in place is the best move you can make for your own piece of mind!

Roxanne has provided me with peace of mind financially and a clear path to retirement.

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As your wealth management advisor, we have spent years finding the right specialists. Contact us to make sure you have no regrets.

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Ready to Empower Your Wealth?
Let’s start a conversation today.