Client Profile: Alex and Sarah Gage

Envisioning the future: from Sheffield practice to a secure succession plan

When Alex and Sarah Gage opened their first optometry practice in 1996, they were building more than a business – they were shaping a future for their family, their clients and their community.

Twenty-seven years later, their business has continued to evolve. After decades of growth, change and careful planning, Alex and Sarah joined Hakim Group in 2021 – a decision that has helped them feel more confident about the future of the practice and their own next phase of life.

Read on to discover how Attivo’s financial planning for business owners gave Alex and Sarah confidence to prepare for their business’ succession, and their later retirement.

A practice with a personal touch

For Alex, the story began just seven years after qualifying as an optometrist. He and Sarah, who met at Manchester University, bought their first practice in Woodseats, south Sheffield. Opening day came with face painting, balloons and plenty of anticipation.

“The chap we bought the business off was pretty old school – his till was his pocket!” Alex recalls. “We bought the entire building and converted the upstairs into a self-contained flat, which we rented out for extra income.”

At the time, marketing meant choosing between Yellow Pages and Thomson Local, while digital systems were still in their infancy. But Alex was already looking for ways to work smarter.

“The internet was in its infancy,” he smiles. “I had a friend who was good at computers, so we’d sit at home working out how to store patient data, print letters and send out reminders.” That early automation helped put the practice ahead of the curve.

As their family grew following the birth of their daughters, Emma and Katie, Alex and Sarah felt ready to expand. With support from their Attivo financial planner at the time, they explored what growth could mean for their finances, their family and their longer-term retirement plans.

Navigating growth and change

The couple opened a second practice in the Broomhill area of Sheffield, but the transition was not without its challenges. Over time, and after a move to the more family-friendly area of Crosspool, the practice began to flourish.

By March 2020, both practices were in a strong position. Then the pandemic arrived, and the business had to adapt almost overnight. Alex found practical ways to continue supporting clients, even fixing glasses from his car during lockdown.

Lockdown also gave Alex time to think about the future. “I was 50 in 2020, and I started to think about retirement and my exit strategy,” he says.

During lockdown, Hakim Group – a company that supports independent opticians – ran a series of webinars that caught Alex’s attention. So, when he took a call from owner Imran Hakim in mid-2021, he was open to exploring what joining the group could mean.

Imran offered two options: Hakim Group could buy the business immediately, or buy half straightaway and work alongside Alex and Sarah for the next nine or 10 years, with a view to selling the remainder later. For Alex, the second route offered the chance to keep developing the practice while putting a clearer succession plan in place.

“I really liked his approach and believed what Imran was saying,” Alex explains. In 2021, he and Sarah shook hands with Hakim Group – and began a new chapter for the business.

Looking ahead with confidence 

Since joining Hakim Group, Alex has found reassurance in being part of a wider network while maintaining the culture and values that shaped the practice from the beginning.

“I’d like to retire by 60 and my aim has always been to ensure that if anything were to happen to me, the business would not collapse,” he says. “Since joining Hakim, this has become a reality. It makes you feel more secure being part of a bigger group, and I feel really positive about the future of the business.”

Discover financial planning for business owners with Attivo

For Alex and Sarah, careful planning has helped them turn a successful business into a more secure future, giving them confidence in the next stage of their lives – whatever that may look like.

If you’re a business owner thinking about your next steps, our financial planning for business owners can help you explore your goals, options and next steps. It all begins with your free, no-obligation consultation, where we’ll find out more about each other, and whether we’re the right fit to embark upon your next chapter together.

Important information

We offer a free initial consultation to discuss your goals and next steps. If you decide to go ahead with advice, charges may apply – these will be explained before you commit.

This is one client’s experience; customer testimonials are illustrative, it may not be representative as outcomes depend on individual circumstances. Any decision to invest should be made in the context of your individual circumstances and financial objectives. Retirement and Investment planning involves risk. The value of investments and any income from them can fall as well as rise, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.