Workplace Guide: To buy or not to buy?

^{Tim and Polly Dulley of Aves Optometrists in Essex}

Apart from setting up from scratch, a commonly used route to ownership is to buy an existing practice. However, as Dominic Watson, a consultant at broker Myers La Roche, comments: ‘The biggest barrier to entry for most is the availability of suitable opportunities within a reasonable timeframe. In reality, most are not able to up sticks and relocate.’

As a result, it can take many years to find a suitable independent practice. Funding is another issue to deal with. But here, Watson reckons that this is a red herring pushed by ‘acquisitive chains’ to persuade owners to sell their businesses on part-cash, part deferred payment schedule as it helps their growth.