Business Overview

This Optical Business is well-known in the community and has been committed to providing exceptional personalized service and high-quality products at affordable prices.

With 2 locations, they offer a wide range of services from frames, lenses, eyeglass repairs, and much more. They have an on-site lab located in their main location with an independent eye doctor located next door. and their 2nd location is in a very busy prominent area of OKC.

This operation is fully turn-key, has been in business over 25 years and has an outstanding reputation, loyal clientele, and continuous referrals. 80% private pay and 20% insurance.

Customer service, knowledgeable, experienced staff, on-site lab, same day service, wide range of quality products, and reasonable prices are what sets this business apart from others in the industry.

The eyewear market continues to grow due to an upsurge in the number of visual deficiencies and increasing awareness regarding eye examinations. Furthermore, the growing dependence of the younger generation on electronic devices such as computers, televisions, and mobile phones has led to prolonged exposure to radiation, causing strain on the eyes, which is resulting in the purchase of more eyewear products.

Contact us today to learn more about this great business!

Financial

  • Asking Price: $1,500,000
  • Cash Flow: $280,000
  • Gross Revenue: $1,376,909
  • EBITDA: N/A
  • FF&E: $700,000
  • Inventory: $100,000
  • Inventory Included: Yes
  • Established: N/A

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:9,300
  • Lot Size:N/A
  • Total Number of Employees:14
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

2 locations

Is Support & Training Included:

2 weeks

Purpose For Selling:

other interests

Pros and Cons:

Established presence. Been in the same location for many years with good size patient base. Onsite lab. Prime location. Friendly and experienced staff. Clean and great atmosphere. Positive reviews from the customers.

Opportunities and Growth:

The biggest opportunity for growth is for an optometrist or ophthalmologist to acquire and work in the store. However, a non-practitioner also could see serious growth by expanding hours, increasing appointments and adding third party programs.

Additional Info

The transaction will include inventory valued at $100,000, which is included in the requested price.

The company has 14 employees and is located in a building with approx. square footage of 9,300 sq ft.
The building is leased by the company for $13,000 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell businesses. However, the genuine factor and the one they tell you may be 2 completely different things. As an example, they might state "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may just be reasons to attempt to hide the reality of transforming demographics, increased competition, current decrease in earnings, or a variety of various other reasons. This is why it is extremely vital that you not rely totally on a seller's word, but rather, utilize the seller's response along with your total due diligence. This will repaint a much more sensible picture of the business's current circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many companies finance loans so as to cover items like supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that earnings margins are too thin. Lots of companies fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that must be met or might result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the area bring in new clients? Often times, businesses have repeat consumers, which develop the core of their everyday profits. Certain factors such as brand-new competition sprouting up around the location, roadway construction, as well as employee turn over can impact repeat clients and also adversely affect future earnings. One important point to think about is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more individuals that see the business on a regular basis, the better the possibility to develop a returning consumer base. A final thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? How might the local average family income impact future earnings potential?