What is your practice worth?
Structure of the payment and agreement:
Valuation: Practices are most commonly valued based on their EBITDA, which is the revenue after all costs & salaries, before adjustments for taxes. The average independent practice has 1.5 OD’s, 6 staff, and generate $1.35 million in revenue. The average practice has a 20% profit (EBITDA) or $270,000. While every practice has a different valuation, we pay a multiply of EBITDA. We pay more for a multi-location practice and even more for a large group. These numbers are subject to proper due diligence into the real value but this is a ballpark number. Speak to us about your EBITDA and how much your practice is worth.
What Your Practice Is Worth: Start with your yearly revenue. Your EBITDA is about 20% of that for a practice that averages about $300 per patient and closer to 40% of that for a practice that averages $700 per patient. You are also welcome to email us your financial numbers so we can tell you what your EBITDA is.
Employment Terms: Our goal is to partner with Optometrists that are motivated to stay on and provide unparalleled patient care. Our ideal Optometrist will continue on with us for the long-term though we can also assist Optometrists looking to transition into retirement over the next couple of years.
Doctor Salary: While the average base salary for Optometrists in the US is $145,000, we offer a competitive base salary based on your experience and region. Speak to us about what that might be.