Skip to main content

Tel: 0151 348 8400| Fax: 0151 348 8401 | Email: Mail@moco.co.uk

our specialisms

Specialist Ophthalmic AccountantChartered AccountantsChartered Accountants

What is Benchmarking?

At Morris & Co we have found that nothing ever stands still in the ophthalmic profession. One company or another is constantly seeking to improve its service and products.

To remain competitive, an optician therefore needs, at the very least, to keep pace with the changes, developments, trends and innovations that are taking place.

One important way of doing this is through benchmarking.

Benchmarking allows the optician to compare his buying skills, his staffing and their operation, his productivity, his customer service, his marketing activities and his overall performance with that of other opticians.

Essentially, benchmarking involves a direct comparison between one opticians’ business and others. It allows you to measure your current performance against that of the competition.

The advantage of benchmarking is that it is a good way of measuring your strengths and weaknesses. Any weaknesses that might be highlighted can be reviewed to find ways of correcting them. Any strength can be capitalised upon. One of the key purposes of benchmarking is to assist in implementing new and effective business strategies.

Because we act for a number of opticians at Morris & Co we have compiled our own financial statistics and compared the trading results of all of our optician clients with whom we act. The key indicators that we looked at were income composition, gross profit percentage by income, net profitability, total fees per optometrist and total salaries as a proportion of fees. A detailed sample of the benchmarking areas that we review is shown to the right of this page.

We would be happy to compare your results with that of ours and provide you with a detailed report as to how your practice is performing. For further information please telephone Desirie Lea on 0151 348 8400 or email specs@moco.co.uk

Morris & Co have a dedicated team specialising in VAT and ophthalmic accounts and are able to provide advice and guidance on all aspects of financial accounting, taxation including partial exemption & business matters.

For a FREE no obligation chat about your circumstances Contact Desirie Lea on 0151 348 8400 or email specs@moco.co.uk

Example of Benchmarking Statistics

Graph

Testimonials

  • "Over a number of years Morris & Co have provided me with sound financial and business advice. Their in depth knowledge of my particular sector has proved invaluable and they explain my accounts in a way that is easy to understand. All my questions are answered promptly and efficiently and I really appreciate their level of expertise."
    David Evans, R T Booth & Co Ltd
  • "When appointing an accountant it was very important to me to select someone who was not only knowledgeable but friendly and approachable. I have always received proactive, professional advice and I know that the specialist advice I require to run my business is only ever a phone call away. A VAT full cost and apportionment calculation was recently undertaken for my company. As a result of this, my percentages have reduced, thereby saving me additional money."
    Ian McGarvey, Ian McGarvey Opticians Ltd
  • "Having had dealings with Desirie Lea of Morris and Co from the very inception of my company, I have always been impressed with how approachable everyone has been, from the partners to the receptionists. I had spoken to several accountants before instructing Desirie to take charge of my accounts, and from the first phonecall, Desirie impressed me with her forthright manner and her perceptive analysis of various scenarios I put to her. She is always on the ball and is a pleasure to deal with."
    Lloyd Griffiths, Lloyd Griffiths Limited
  • "Desirie and her team have been acting on my behalf since 2002 and I am delighted with the service they provide. As specialists in the ophthalmic sector, they are able to take away the stress of dealing with the partial exemption calculations for VAT purposes, which is a real bonus. I have regular meetings with them at my premises to discuss strategic issues and plan for the future. Management accounts are prepared on a quarterly basis for my company which includes a detailed analysis/commentary of my trading results. I would have no hesitation in recommending the services of Morris and Co to my fellow professionals."
    Anne O'Loan, Niluain Ltd

Contact Desirie Lea on:

0151 348 8400 or email specs@moco.co.uk for a FREE no-obligation discussion and for information about how we can assist you in maximising your tax relief.