Most of you like to shop.  For some it maybe clothes and for others it maybe handguns.  Everyone likes to see that their favorite items are on sale.  Research has shown that men and women differ slightly in this area.  For men, they know what they need (or want) and will purchase it whether it is on sale or not.  For women, they will buy something just because it is on sale whether they need it or not.  In today’s optometry practice market, men and women should both be purchasing practices.

Here are four reasons to buy an optometry practice now.

1. Money is cheap – Interest rates remain at historically low levels.  The loan market is “tight” but as professionals we remain a great investment.  Check out one of the leader’s in loaning money to professionals.
2. Buyer’s market – With the baby boomer generation hitting the end of their career in optometry, this has created a rush of practices that are for sale.  As this trend continues the number of sellers appears to outnumber the buyers creating a buyer’s market.  Also, the economy has impacted the value of practices over the past 5-10 years with many practices being sold between 55-65% of the last 3 year’s gross collected.
3. Growth opportunities abound – Many of optometry’s best doctors have chosen to forego the opportunity to stimulate growth by incorporating the medical model of optometry practice.  New graduates are practicing with medicine in mind and with that comes an increased amount of diagnostic testing and thus growth throughout the practice.  It does continue to be important to not lose the roots of the refraction and a resulting pair of glasses, but a practice that has done only that is a large growth opportunity.
4. Best ROI (return on investment) – Although the stock market has been hitting all-time highs, the days of greater than 10% growth per year are seemingly far and few between.  Also, CD rates are at all-time lows presenting us with minimal areas for good growth investments.  Ask your senior doctor where he/she has made the best ROI over the past 20 years and many of them will say the practice has been the biggest payoff.  Choosing to not buy a practice maybe passing up your best investment opportunity.

Whether you are a man who knows what he wants and seeks to “kill it and drag it in,” or you are a woman looking for the latest sale, now is the time for you to shop for your optometry practice.  There are many practices available that will fit your style and budget.  If there was ever been a time to buy it is now.