Optometrist Phillip Fent has established a new brokerage business to support optometrists in Australia and New Zealand.
Optometrist Business Brokers, based in Victoria, is helping optometrists with their exit strategies, and to find buyers for their practices.
Mr Fent says having bought and sold no less than 10 private and franchise practices across Australia, he has valuable experience to bring to the table.
“Establishing and running a successful optometry practice comes with unique challenges that an optometry degree and even years of work experience as an employee will not equip you for,” he said.
“Greenfield practices are high risk. There’s a high percentage failure rate, mostly because you have no prior experience with the patient group and doing things by trial and error is a very inefficient way to learn.
“Buying an existing practice can be less stressful – there’s a track record you can research, so you know what you’re getting into, and there’s good will – i.e. an existing loyal patient base.”
Mr Fent has also been operating his Optom Locum and Permanent Recruitment Services business since 2002, and plans to continue its operation.
“We have a substantial database of candidates who are looking for a new role – so we’re able to identify suitable candidates for practices very quickly and at an affordable price. We work on a set fee basis and have a money back guarantee – if the appointment doesn’t work out within three months we find a replacement.”