Eye Care Industry Resources

An Introduction to Our Financial Model for Optomtetrists in Independent Practice

ODMA and Dewings have designed a financial model specifically for optometrists in independent practice, and this is an introduction to what it can be used for. Read more...

Engineering Your Practice for Success

What does it mean to 'engineer' your practice? How do you build a business that can withstand the elements? The key is having as much information as possible. This is where business modelling can help. Read more...

Setting Up a New Practice

Starting out on your own should be an exciting time. But the amount of work involved to set up an optometry practice can be a little daunting, and there are a number 'must dos' to ensure that you cover all of your bases and meet all of your legal obligations. Read more...

Should You Join a Franchise?

If you're operating an optometry practice, or even if you've worked in the industry for a while, chances are this is a question you've considered. So what are the options, and how do you make the right decision? Read more...

Using Budgets to Price Your Products and Services

Budgeting is an important practice for any business. But for those in the eye care industry looking to get more information to accurately and profitably price their products and services, it can be invaluable. Read more...

Selling Your Practice

The decision to sell or not is one that is increasingly being faced by many independent optometrists. Once you decide you'd like to, there are a few things you can do to get your house in order and ensure that you receive the best possible price. Read more...
 

Succession Planning: Maximising the Value of Your Practice

Planning your way out can be one of the most critical things you will do in the life your practice. The reason is simple - when the time comes to sell or retire, your practice will only be worth as much as someone is willing to pay for it. It doesn’t matter how much hard work and money goes into setting up and operating a business - if you can’t find common ground with a willing buyer, your business will be worthless. What you do therefore to plan your exit will go a long way towards helping you achieve the outcome you want, on your terms. And potential buyers may be closer than you think. All you need to do is find a way to make it attractive to them while getting the best possible outcome for yourself. That's where succession planning comes in. Read more...