Outline, Aims & Objective
In more detail, the Aims of this resource are to: -
- Provide an overview of the Optic market; its size, stats and facts and why the market is so competitive.
- Help you to review your motives, attitudes and competencies to make sure that owning your own business is really suited to you.
- Outline & assess Risk & Reward and the true cost & potential benefits to you of buying a practice.
- Help identify the type of practice that is right for you including joint venture and franchise options and how to be aware of the multiples in your area.
- Show you how to locate practices for sale through various channels including internet, networking and agents.
Most prospective purchasers only get access to less than 50% of the practices for sale each year; we show you how to find out about the rest, maximising your chances of success. - Provide you with information for assessing the practices available for sale including an explanation of: -
- Protocols - how to conduct yourself. In competitive situations this can have a huge impact on whether you or another party is successful.
- Details of the minimum & ideal levels of information you require in order to evaluate a practice satisfactorily.
- Preliminary due diligence - hints & tips on checking out a practice before spending money on professional advisors.
- When & where to turn to for reliable, professional advice.
- Provide you with an in depth and subjective review of optical practice valuation methodologies to help you assess practices and peoples opinions of valuations objectively, including an illustration of the typical Valuation methodology used by the multiples.
- Explain the different types of business purchases, to help you make the right choice by providing a full understanding of the option and merits of: -
- Purchasing the assets - what is included e.g. staff, stock, equipment.
- Purchasing shares of the company.
- Provide you with a complete overview of funding options
All too often, people make ill-informed assumptions about funding which restricts the type of practices they are able to look at, or their ability to capitalise on an opportunity and proceed quickly and decisively. We will show you: -- How much you can borrow
- What Funding Options are available and we will review the merits of each to provide you with full information for making your funding decision
- Factors to consider when borrowing money
- Recommended sources of funding
- How to improve your chances of securing funding
- Show you which professional advisors you will require:
We explain the parties you will need to hire to assist you in the acquisition of a practice. Dealing with: -- Solicitors
- Accountants
- Surveyors
- Illustrate the dangers of choosing poor advisors so that you make an informed decision and get expert help (poor solicitors can cause transactions to fail.)
We deal with: -- Why not to trust the old adage that you get what you pay for
- How much should you pay for an advisor?
- What can you expect from an advisor?
- What questions to ask your advisors?
- Our Recommended Specialist Advisors
- Lawyers
- Accountants/Business Advisors
- Surveyors
- How to progress your interest in a practice:
- The viewing protocol
- Evaluating a practice including due diligence
- How to conduct a non financial analysis
- We show you how to make an offer & outline what your legal responsibilities are.
- Placing an offer and how to structure your offer and how to negotiate.
- Provide you with a detailed overview of the process once a sale has been agreed, dealing with: -
- Likely timescales & the parties involved.
- Common Pitfalls & How to avoid them.
- Landlords, Leases & Surveys - how to navigate through the property minefield.
- Should you buy the business in the name of a Limited Company?
- Tasks that you will need to complete.
- The tax implications
- Stock Valuation methodologies
If you have any questions about Optic Inner Circle please contact us at mail@buyandsellbusiness.co.uk
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