If you are an independent optometrist or an independent eye specialist, you must keep up with the latest technologies and innovations related to both diagnostics and treatment. As expected, it’s also customary to continually update your equipment as well as the practice itself.
It is difficult for a practice to have the funds at hand for this type of constant improvement; however, it is usually made feasible with the help of opticians finance. You can approach an institution considered to be a leading name in optical finance with vast experience and scope in the country.
What are the different ways in which opticians finance can be utilised?
- Tax liabilities – This type of financing is a hundred percent tax deductible and may be used for tax liabilities.
- Optometrist equipment – It can be used to purchase test and laboratory equipment such as refractions, lens sets, projectors, auto refractors, etc.
- IT systems – You can invest it in hardware, software, training, and services for updating processes, improving telecommunications, using EPOS, etc.
- Office equipment – You can also use it to purchase items for the office, such as furniture, storage solutions, management tools, etc.
- Vehicles – In case there is need for a vehicle, financing may also be used toward it.
- Practice expansion and refurbishments – You can use it in improving the building, the fittings, the test room, or some other major physical segment of the practice.
These are the common uses of optical financing, but there are some more possibilities, such as:
- Practice relocation – Use the funds to shoulder the expense of moving and setting up anew elsewhere.
- Partnership buy-out – If your partner wants to leave the practice, you can apply for financing to buy him out.
- Practice acquisition – You can use it to buy into another practice.
Many opticians prefer to work with institutions that do not seek additional security the way that banks do. The assets themselves already provide adequate security for these providers. An additional advantage with such a service is speed. You won’t need to wait weeks for your application to be approved. With some providers, decisions take but three hours.
For the most beneficial terms, source financing from a program that offers competitive rates and flexible packages that specifically cater to the unique needs of each customer.
Making improvements without negatively impacting your working capital and cash flow is possible. If you want to explore this notion further, give us a call and speak to one of our account managers for advice.
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After having a bit of a long journey to secure a new van for my business, Alex, Edward and the team jumped in and helped me out very quickly and professionally to get me through all of the details I didn’t quite understand.A Client