Australia’s largest independent optometry group has created a new resource to help practice owners map their path to retirement, with an emphasis on maximising business value and protecting the practice’s legacy.
ProVision – with more than 450 member practices across Australia – recently introduced SuccessionPro, which it says is designed to “make each step of the exit journey straightforward”.
As part of the program, the organisation is engaging with a healthy pool of candidates looking to acquire independent practices. For practice owners, it has also developed a tool that interactively outlines their options and considerations, while offering the opportunity to confidentially discuss plans with ProVision business services manager Mr Mark Corduff.
“We created Successionpro with the primary purpose of bringing together the resources and expertise within ProVision via a dedicated resource for members to assist with planning their future,” Corduff said.
“There are common questions members ask when considering their plans, so the focus is on addressing these in detail at each stage of the journey.”
According to ProVision, SuccessionPro is set out as an easy-to-follow, interactive five-step guide. It also features video content, as well as access to important tools, documents, and templates.
Corduff said ProVision recommended a well-examined 10- to 15-year plan to ensure practice owners generated maximum profit and satisfaction.
“Whether it is time to revisit your succession plan or start at the beginning, having the end in mind and working backward from there will ensure a healthy work-life balance in the lead up to retirement and a smooth transition out of practice ownership,” he added.
Learn more and request a confidential discussion with Mark Corduff here.