Information Required For Appraisals


  1.  Estimated Income for Current Year.
  2. Copies of last three years P&L (Profit & Loss) Statements (also known as Year-End Statements).
  3. Copy of last year’s Business Tax Filings.  If there is no corporation or partnership, this will be the doctor’s personal tax filing.
  4. Current inventory dollar amount for both eyewear and uncut lenses (if applicable).
  5. Current inventory dollar amount for both contact lenses and CL solutions.
  6. Miscellaneous inventory amount, i.e., glass cases, supplies, etc.
  7. Equipment appraisal from someone like Walman Optical, Duffens, Lombard, etc.
  8. Approximate number of active patient records (three to five years and three years or less).
  9. Copy of practice rent/lease agreement (if applicable).
  10. Short history of practice by the doctor.
  11. Demographic summary of the community in which the practice is located; i.e., population, population draw, overall economic climate, mean wage, etc.
  12. Photo-a-rama of practice showing inside and outside areas of practice (may be in 35mm or video).


NOTE:  Three accounting methods are used for the appraisal:

  1. Gross Income Method
  2. Net Income Method
  3. Comparable Fair Market Method (when possible)

The results of these three methods are averaged; and, this average becomes the fair market value.