Thinking About Selling Your Optometry Practice? Start Planning Now to Maximize Your Return

Justin Marti
Jul 15
3 min read

In Collaboration with Michael Pote at Ratio Accounting

For many optometry practice owners, the business you've built over decades is your most valuable asset. But turning that asset into a retirement-ready payout doesn’t happen by accident. Without proper planning, too many owners are forced to simply close their doors when they’re ready to step away.

If you’re hoping to one day sell your practice and walk away with the value you’ve earned, early planning is essential—ideally two to three years before your intended exit. Below are tips submitted by Michael Pote, Partner at Ratio Accounting.

Step One: Get Your Financials Buyer-Ready

Think of preparing your practice for sale the way you'd stage a home. You want to make it easy for a buyer to see the value and imagine taking over seamlessly. That starts with clean, easy-to-read financials:

A three-year profit and loss statement (P&L), preferably one that fits on one page or close to it
A current, accurate balance sheet that includes your basis (your capital investment in the business)
Clear separation of business and personal expenses—no guesswork required for a buyer

If a buyer can’t understand your numbers, they won’t have confidence in the value of your practice.

Step Two: Focus on Profit, Not Just Revenue

Many sellers assume that top-line revenue drives their valuation. In reality, it’s your bottom-line profit that counts.

Buyers will often talk in terms of a "multiple" of earnings. That multiple varies by industry and buyer type. For example, in optometry:

A private buyer might offer a 4x multiple of annual net profit
A private equity group might offer closer to a 7x multiple, but their deals often come with stricter terms and post-sale work requirements

If you’re considering a sale in the next few years, now is the time to cut unnecessary costs and find ways to increase net income.

Step Three: Know the Buyer Types (And What They Want)

In today’s healthcare M&A landscape, most buyers fall into two categories:

Private buyers, such as independent optometrists, often value relationships and continuity of care.
Private equity firms, which typically pay more but expect the seller to stay on for 2–5 years post-sale and follow their operational systems.

Understanding who’s active in your industry and what they’re looking for can help you prepare and position your practice more effectively.

Step Four: Clean Up Debts and Inventory

Before your practice can change hands, you’ll need to resolve any outstanding debts—business loans, equipment financing, payroll liabilities, and even unused vacation pay.

Inventory can also trip up a deal. If you’re reporting $80,000 in inventory on your books, but the buyer only finds $30,000 during due diligence, it can derail negotiations and reduce your sale price. Keep your records up to date and accurate.

Step Five: Tell a Strong Story

Buyers are investing in more than numbers; they're buying your story. What makes your practice attractive?

Long-standing, loyal patient base?
Strong net income?
Experienced and reliable staff?

Be ready to explain why you're selling, and ideally, show that you're willing to stick around for a smooth transition. Buyers want continuity, not surprises.

Step Six: Know Your Number—and Earn It

Start with a realistic idea of what you’d like to receive from the sale, then work backwards. Does your P&L support that number? If not, create a to-do list:

Reduce unnecessary expenses
Drive top-line growth
Improve operations

The earlier you start, the more impact your improvements will have on buyer perception and actual valuation.

The Bottom Line: Selling your optometry practice? Don't wait until you're ready to retire.

If you wait until the day you’re ready to walk away, you’ve waited too long. A thoughtful exit plan takes time—and the sellers who start early often see the biggest return on their life’s work.

At Marti Law Group, we help healthcare and optometry practice owners plan and execute successful exits every day. Whether you’re years from selling or just starting to explore your options, we’re here to guide you through the process with clarity, strategy, and confidence. Contact our team to start.