glpcpa said:
I'm looking for a template or program that can help me purchase a
optometry
practice.
glpcpa,
My gut tells me your initials are glp, you are a cpa and you have a client
(an optometrist) who is considering the purchase of an optometry practice.
Am I close ?
I concur with DL but I believe *you are* the professional. I would rely
much more on human decision making rather than number crunching templates,
programs or software. Although, as a cpa, number crunching is your game.
Important factors to consider would include:
1. Location, location, location
2. Federal business 1040 returns for the last 3 years (at least)
3. Average overhead for an optometry practice
You could probably get this info from the federal, state or local
Optometry Association
4. Common insurance plans of this practice
5. Value of equipment in place
6. Current employees of the practice
Let's look at the above in reverse order
6. Would the new provider retain, let go or require additional employees ?
How would this affect overhead ?
5. Would additional capital expenditure be required to "modernize" the
office ?
4. Is the provider on the patient's insurance plans ? If not, patient's
will go to providers who are on their plan. There is no loyalty when it
involves paying cash because the insurance company won't !!! To take it a
step further, human nature would dictate that someone would rather spend $10
in gas driving to a doctor on their insurance plan than to pay $10 out of
their pocket for a doctor nearby whose not on their plan.
3. Will help obtain net income of practice
2. Will offer gross income of practice
1. Speaks for itself
This information will allow you to :
1. Determine if this is a "good deal" or "worthwhile investment"
2. Approximate the length of time it would take to break even on the
purchase.
In direct response to your request, "I'm looking for a template or program
that can help me purchase a optometry
practice", I would say a bank, savings and loan or credit union would be
better choices to help purchase an optometry practice.
Good luck.
