With a steadily growing customer base, the optical retail industry generated revenues of more than $36 billion in the United States in 2020. As people age, regular eye exams and corrective lenses are key to maintaining vision, overall health, and independence. At the same time, the even larger millennial generation will provide a massive new base of patients for vision care providers. Over the past two decades, more employers have begun offering vision coverage for adults. Coverage has encouraged more adults to take advantage of eye exams, and has helped more adults receive the vision care they need.  

Why do optometry practice owners choose Sunbelt?

While much of our success can be attributed to the highly experienced and knowledgeable business intermediaries stationed across the 140+ offices throughout the United States, Sunbelt Franchise Resales (SFR) has partnered with Pearle Vision who has named Sunbelt Business Brokers as the "preferred resales broker" for their brand. Through this partnership, SFR and Sunbelt have become very familiar with the business model and type of buyer this business attracts. As a result, our offices have become experts in how to effectively market and produce the best price and terms for the sellers they represent.

As of the conclusion of 2023, the marketplace remains an advantageous place for business owners to transition their business. Immediately following the onset of COVID-19 in March of 2020, the buyer pool for businesses increased dramatically due to historically low interest rates, high unemployment and low job satisfaction. Since 2022, however, rapid rates of inflation and interest rates spiking beyond even pre-pandemic levels left many business owners wondering if they could still earn maximum value for their business.

The simple answer remains "YES!"

Year-over-year, the business resale market has continued to demonstrate that buyers are interested in purchasing strong performing businesses regardless of economic conditions. BizBuySell, the largest online business-for-sale marketplace, published their market insights report at the conclusion of Q4 in 2023. Here's what they said:

                   "Businesses bought in 2023 showed stronger financials compared to the previous year,                             also exhibiting a U-shaped pattern with values surging in the 4th quarter. Median cash                               low grew 13% in the final quarter, finishing the year with a 4% annual gain, while median                           revenue gained 16% and 6% respectively. This activity underscores small business                                       resilience despite current economic conditions. It also suggests buyers are still willing to                             invest in great opportunities."

If you are an owner contemplating the sale of your business, it's never been more critical and beneficial to consult with someone who understands the marketplace, the selling process and how to appropriately value and market your business in order to maximize value.

Ready to explore selling your business? Contact us today for a free/no-obligation discussion and complimentary value range analysis!