Private vs. Corporate Buyers in Optometry Practice Sales

Selling an Optometry Practice: Private vs Corporate Buyer

Selling your optometry practice is probably one of the most difficult and emotional decisions you will ever make because it is not just a financial transaction where you hand over the keys, collect a check and move on. You have spent years building this clinic from the ground up. You remember what it felt like in the early days when making payroll was stressful and every new patient mattered. You trained your staff your way. You built systems that reflect how you think. Over time patients began to trust you and now many of them depend on you.

So when the idea of selling comes up it is not just about valuation. It becomes about who will take care of what you built.

We have yet to meet an owner who said this decision was purely financial. It never is.

Everything may feel overwhelming at first. Finding a buyer. Understanding the numbers. Thinking about timing. Many owners start by asking practical questions like how long the process takes and what their practice is worth in today’s market. If you are still working through those early questions you may want to review our detailed guides on How to Sell an Optometry Practice: Timeline and Next Steps and How Much Is Your Optometry Practice Worth in 2026 because those will give you clarity on the structure and valuation side of the process.

But once those initial questions are addressed the tone of the conversation changes. It slows down. This is usually the moment where owners stop talking about numbers and start talking about people.

Who am I handing this to?

And this is where most owners pause.

At DVMElite we speak with independent practice owners every day and once the discussion moves past valuation the conversation usually becomes personal. Owners ask what will happen to their patients. They ask about their team. They wonder whether the culture they worked so hard to create will survive after they step away.

Let us tell you something important. We are your partner not only when it comes to selling your practice but years before you even think about selling. If your practice is not ready to sell we will help you prepare it. We will work with you to strengthen your numbers, clean up operations and build a foundation that makes your practice more valuable when the time comes.

Even if you are years away from selling we recommend reaching out to start the conversation. Preparation creates options and options create confidence.

Here is what other practice owners have said about working with us.

This is the most amazing community of smart committed positive professionals I have ever had the pleasure of working with.  Not only has DVMELITE grown me professionally they have also contributed a huge amount personally.  I feel I have found a family with this group and can not recommend more highly! - Suzanne May

DVM Elite is totally invested in the success of my practice. They are knowledgeable and resourceful. They listen before they advise. They understand that every practice is not the same and base strategy on your demographics and practice style - Kirk Vardeman

The amazing DVMELITE team has helped me peel back every layer of limiting belief to enable me to build and lead my team with humility and passion.  Together we have created a solid and enduring foundation for  my veterinary practice. A feeling that is shared by the entire Armitage Team!  Profuse gratitude to you, for working tirelessly to make a career dream come true.- Leslie Trovato

DVM Elite has truly been a blessing to me and my business. With their help my business has grown 5 fold in the last 10 years. The support groups and practice specialists are second to none. You will not go wrong with DVM Elite! - Ray Caughman

Choosing the right buyer is not a small detail in the process. It is the decision and preparing early is what gives you the power to choose wisely.

Let’s get back to our discussion.

Selling your optometry practice to a Private Buyer

When you sell to a private buyer you are usually selling to another optometrist who genuinely wants ownership. Sometimes it is an associate who has been working alongside you. Sometimes it is an outside doctor looking for their first opportunity. This type of transition often feels more personal because you are passing the clinic to someone who understands patient care the same way you do.

We often hear owners say they just want another doctor to take care of patients the way they have. That feeling makes sense.

At the same time private sales require structure. Most private buyers will need bank financing which means your financial records will go through careful review. Lenders examine revenue trends, expenses and overall stability. If your numbers are organized the process can move smoothly. If they are not it can slow things down or change deal terms.

In many private transactions there is seller financing involved. That means part of your payment may be received over time instead of all at closing. While that can help a buyer secure the deal it also means part of your financial outcome is tied to how the practice performs after you leave. If the new owner struggles with staffing or operations it can affect remaining payments. It is not about mistrust. It is simply understanding how risk works.

Private buyers can offer continuity and emotional comfort. They also require patience and careful planning.

Selling your Optometry Practice to a Corporate Buyer

Corporate buyers are typically larger groups that own multiple practices and already have systems in place. The selling process often feels more structured because they have dedicated acquisition teams and clear steps for valuation and due diligence. Transactions can move faster compared to private sales.

When valuing your practice corporate groups usually look at normalized earnings and apply a multiple based on performance and growth potential. In strong markets offers can be competitive. For some owners that financial clarity brings a sense of relief because the numbers feel defined.

The difference often becomes more noticeable after closing.

In a corporate sale administrative responsibilities such as payroll, vendor contracts and human resources are usually handled centrally. If you are tired of managing the business side of the practice this can feel like a weight lifted. You may continue practicing and focus on patient care without worrying about hiring or negotiating supply agreements.

At the same time certain decisions will no longer be fully yours. Policies are typically standardized. Vendor relationships may follow group contracts. Reporting becomes more formal. Clinical autonomy is usually maintained but operational independence becomes more limited.

For some owners this reduction in responsibility feels freeing. For others it feels restrictive. It depends on what stage of life you are in and how much control you want to keep.

Financial Structure Matters More Than the Headline Number

One of the biggest mistakes we see is focusing only on purchase price. A corporate offer may look higher. A private offer may look lower. But structure often matters more than the first number you see.

Corporate deals sometimes include earn outs where part of the payment depends on future performance. Private deals may involve seller financing where payments are received over time. Taxes, timing and performance conditions all affect what you actually take home.

Two deals with similar prices can lead to very different results. Understanding that early changes how you evaluate offers.

Your Role After the Sale of Your Optometry Practice

You also need to think about what your life looks like after closing.

With a private buyer the transition period is often shorter. You may stay for several months to introduce patients and support the handover and then step away.

With corporate buyers employment agreements are often longer. You may continue practicing for a few years without ownership pressure. Some owners appreciate that gradual shift. Others prefer a clean break.

Before choosing a path you need clarity about what you truly want.

• Are you ready to retire fully?

• Do you want to reduce stress but keep seeing patients?

•  Do you want flexibility over the next few years?

  
  

Your personal goals should guide the decision.

Final Thoughts

Earlier this year at a conference we spoke with an owner who was convinced she would only sell to a private doctor. It aligned with how she built her clinic and how she viewed patient relationships. She had just become a grandmother and was flying twice a month to see her daughter and new baby. When real offers came in she realized the private structure required significant seller financing and a longer transition period. The numbers worked. The structure did not. After comparing both options side by side she saw that what felt emotionally comfortable at first did not fully match her personal priorities at that stage of life.

Another owner in his seventies had different goals. He was ready to step away completely and did not want any financial exposure after closing. For him certainty mattered more than continuity. Receiving proceeds upfront and avoiding performance conditions became the deciding factor.

Both owners cared deeply about their patients and teams. Their decisions were shaped by what they wanted next.

At DVMElite we have seen owners move too quickly based only on numbers and later question whether the structure truly supported their goals. We have also seen owners take time to understand both paths and feel confident because the decision aligned with their future.

If you are starting to explore your options even if you are not planning to sell immediately, clarity makes the process less overwhelming. The more you understand today the more confident you will feel when the time comes to decide.