Use this checklist to assess businesses in this industry for SBA 7(a) lending and underwriting.

Owner Role + Licensing Risk

• Is the owner the sole licensed optometrist?
• Are there associate ODs or succession plans?
• Has a fair market wage been applied to clinical work?
• Is patient care dependent on the owner’s personal brand or referrals?

Retail + Clinical Revenue Breakdown

• Are optical sales (frames, lenses) separated from clinical revenue?
• Is retail inventory itemized and valued properly?
• Are insurance reimbursements normalized?
• Is recurring care tracked (e.g., annual eye exams, contacts)?

CapEx + Equipment Review

• Are diagnostic tools (OCT, autorefractor, slit lamp) included?
• Has CapEx for hardware/software been normalized?
• Are any tools or software licenses excluded from the sale?
• Are optical displays or fixtures included or leased?

Goodwill + Transition Planning

• Will patients return without the owner in place?
• Is goodwill tied to a personal brand or clinic systems?
• Has the owner agreed to a transition or patient handoff?
• Are referral sources retained post-sale?

Red Flags

• No staff optician or support team
• Owner performs 100% of exams and product selection
• Addbacks include home office, samples, or lifestyle perks
• Inventory blended into goodwill or excluded entirely

SBA SOP Tip

Optometry clinics must reflect transferable patient care, clearly itemized inventory, and normalized clinical + retail income. Solo ODs with no transition or team pose risk.