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Q4 2026Price published at release — up to 50% below it if you register before then. No credit card required now.Register →
Optometry

Two businesses sharing a door

The exam lane sells time and expertise. The dispensary sells product at a retail margin. They scale differently and are worth different multiples.

$2.53M
Total revenue
3.16×
Optical ratio
$382K
Adjusted EBITDA
$1.39M
Practice value
What the tool shows

An optical ratio of 3.16× means the dispensary turns over three times the exam revenue. A practice reporting one combined figure asks a buyer to guess the split.

Total revenue$2.53M
Optical ratio3.16×
Adjusted EBITDA$382K
Margin (derived)15.1%
Practice value$1.39M
Coverage2.10×

Read from the calculator on its shipped example. Lines marked (derived) are the difference between two of its figures rather than one it displays directly.

Every figure above is computed from inputs you control. Change one and the whole model moves.

Coming Soon →

What it looks like

Where the revenue comes from
76%
24%
optical ratio 3.16×
DispensaryExam lane

Three quarters of revenue is retail. That is a different business from the lane and carries a different multiple.

What the practice supports
Total revenue
$2.53M
Adjusted EBITDA
$382K
Practice value
$1.39M

A 15% margin. The dispensary drives volume; the lane drives margin.

These charts are the calculator’s own, drawn from the example it ships with. Put your figures in and they redraw.

Coming Soon →
The mistake it prevents

Reporting one combined revenue figure. A buyer prices the lane and the dispensary separately, and asked to guess the split they guess conservatively. Separating them is usually worth more than any operational change you could make in the same week.

What it models
  • Exam and dispensary revenue separated, with capture rate between them
  • Vision plan against medical billing, per chair hour
  • Frame inventory as working capital a buyer funds
  • Lanes and OD hours as the ceiling
  • Payor mix, which sets what you are paid
Conventions, not research
  • Multiples default to bands that circulate in optometry M&A.
  • Capture-rate benchmarks are conventions, labelled in the tool.

Rules of thumb that circulate because they are roughly right. The calculator labels them as such and asks you to record your own source.

The tool applies all of this to your numbers, and tells you where it disagrees with itself.

Coming Soon →

Questions people ask

How is an optometry practice valued?

As two businesses. The exam lane sells time; the dispensary sells product at retail margin. They scale differently and carry different multiples, so the tool separates them rather than applying one number to combined revenue.

What is a good optical capture rate?

It is the hinge between the two halves of the practice and the most improvable number in it. The tool computes it from exam volume against dispensary sales rather than asking you to estimate.

Why does the optical ratio matter to a buyer?

On the worked example it is 3.16× — three quarters of revenue is retail. A buyer asked to guess that split guesses conservatively, so stating it is usually worth more than any operational change.

Does vision plan versus medical billing change the value?

Yes. Routine vision plans pay a fraction of what medical billing does for comparable chair time, so the mix decides what an exam hour is actually worth.

The answers above use the worked example. Your practice will give different ones.

Coming Soon →

How a purchase funds

Two businesses fund differently. The lane is earnings a lender underwrites; the dispensary is inventory somebody has to carry, and the frame board is working capital before it is an asset.

  1. 1
    SBA 7(a) →Start here

    The practice purchase itself, including the dispensary as a going concern rather than as stock.

  2. 2
    Acquisition structure →Before you offer

    Bank debt, seller note and equity against the coverage test, with the dispensary's working capital sized into the uses.

  3. 3
    Equipment loan and lease →For the lanes

    Lanes, edging and diagnostic equipment. A vendor quote expressed as a money factor is expressed that way for a reason.

  4. 4
    Section 179 and bonus →At tax time

    What the equipment deduction is worth once entity and rate are applied. It cannot create a loss, which catches a practice in its first year.

  5. 5
    Seller financing →If the gap needs bridging

    Standby paper bridges the gap between the lane's earnings and the price the dispensary revenue suggests.

  6. 6
    Personal financial statement →Required either way

    The guarantor side of the file, which on a single-OD practice is most of the decision.

Frame inventory is funded at close and it is real money. The calculator on this page carries it as working capital rather than letting it sit invisibly inside the valuation.
Before release · Q4 2026

Up to 50% off for owners who register now

The lane and the dispensary are two businesses that get valued as one. Register now and have the split ready before anyone else does it for you.

No credit card required now. As long as your details are in the system, we send the discount access details when the software opens.

And the financing calculators are free and working today. SBA 7(a), 504, CAPLines, Form 413, equipment and seller paper — your account opens all of them the moment you register, months before the valuation software ships.

  • No payment now. Nothing is taken until you choose to buy.
  • Pricing is published at release; your price is up to 50% below it.
  • The discount applies to the first calculator you buy at launch.
What you hand over

The whole analysis exports as one PDF, generated server-side — every tab, the five-year history, the normalization and the working behind each figure. Not a screenshot of the tab you happen to be on.

It carries the business name, the period, who prepared it and for whom, so a lender or a buyer can act on it without asking who produced the figures.

An illustration of the export layout, not a real page. The PDF is generated from your figures.
Register for early access

One email when the software opens, and nothing else. Your details are not sold or passed on.

Open Optometry practice →14 tabs · save your work if you want to · current as of August 2026