My other half is an Optometrist. The long term career goal of most optometrists is to own their own opticians practice, it may just have come about that it's going to happen for her a lot sooner than is usual.
A job opportunity has arisen for her, with a view to buying the practice in 2 years from an optom that wants to retire. Obviously she needed to see if it was worth it, the aim being a turnover of around £350,000 (for her first practice) to give her enough to meet costs and have a decent salary. Based on projections the current owner initially gave her, we worked out that the place turnsover roughly £400-£420,000, based on patient numbers and her knowledge of the industry (she manages her current place so buys/sells supplies, oversees staff wages etc). She received an email last night to indicate that the turnover is in actual fact £840-£850,000
.
It's a pretty nerve wracking step for me, so I can't imagine how she is feeling. It's going to require a loan. A huge frickin loan, but we'll be paying it off in <5 years, and then raking in the profit.
There's also a possibility we've discussed of paying me an "IT contracting salary" of ~£50,000 (once she owns it) to basically do nothing
. But I think that might be a pipe dream of mine.
Anyway, scary few years of uncertainty, then hopefully...a few new bikes for me!
A job opportunity has arisen for her, with a view to buying the practice in 2 years from an optom that wants to retire. Obviously she needed to see if it was worth it, the aim being a turnover of around £350,000 (for her first practice) to give her enough to meet costs and have a decent salary. Based on projections the current owner initially gave her, we worked out that the place turnsover roughly £400-£420,000, based on patient numbers and her knowledge of the industry (she manages her current place so buys/sells supplies, oversees staff wages etc). She received an email last night to indicate that the turnover is in actual fact £840-£850,000
.It's a pretty nerve wracking step for me, so I can't imagine how she is feeling. It's going to require a loan. A huge frickin loan, but we'll be paying it off in <5 years, and then raking in the profit.
There's also a possibility we've discussed of paying me an "IT contracting salary" of ~£50,000 (once she owns it) to basically do nothing
. But I think that might be a pipe dream of mine.Anyway, scary few years of uncertainty, then hopefully...a few new bikes for me!
