Algonquin, IL -- (ReleaseWire) -- 05/08/2018 -- Selling and purchasing an optometry practice has always been a complex interaction involving multiple parties. Recognizing that this entire process could be streamlined and more effective, the team at Optometric Transaction Consultants (OTC) developed their innovative optometry brokerage. By using OTC's all-inclusive services, both seller and buyer experience a smooth, successful, and equitable transaction.
The professional, caring team at Optometric Transaction Consultants consists of Elizabeth Atkinson, O.D., William Atkinson, O.D., and Chad Mihevc, J.D. MBA, Esq. Together, they bring over 75 years of experience to this new paradigm for buying and selling a practice – 21 years in business law and decades of operating a modern private optometry practice with over $1 million annual gross.
"In the past, an optometrist looking to sell a practice would go to a broker, a financial company for valuation, a consultant to improve valuation, lawyers to negotiate the contract, and the bank to discuss financing. The buyer would also meet with many different people. Our new process centralizes all aspects of buying and selling, so transactions are easier and quicker," says Dr. Elizabeth Atkinson, of Optometric Transaction Consultants (OTC).
The general methodology of OTC is to provide one contact point for every action related to purchasing and selling and to facilitate 100% financing. OTC has a world-class legal team, so buyers and sellers can depend upon the whole process to be completely above board. This system grants new graduates an exciting opportunity to actualize their dream of running a private optometric practice, while at the same time optometrists interested in selling are granted access to a wider, more profitable market.
OTC's services for sellers include listing and marketing the optometry practice for sale, as well as screening potential buyers for viability – thereby removing the stresses and risks of initial negotiations. They perform a comprehensive practice appraisal to determine fair market value, as well as administer management consulting to increase profitability and raise the sale value.
Buyers rely upon OTC for assistance with evaluating potential practices and handling all early negotiations. Due to OTC's unique relationships with banks, the buyer is offered 100% financing along with step-by-step assistance through the entire purchasing process, from loan application through transaction closure. In addition, OTC's team of practice management consultants provide business coaching throughout the first two years to help new optometrists set up a strong, solid practice.
The legal team of Optometric Transactions Consultants will work with clients until agreement on all essential business terms is reached and a fair and equitable contract is produced. Anyone looking to sell or buy an optometry practice will benefit from OTC's assistance before, during, and after the closing, so all transitions will be smooth, ethical, and efficient.
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