SPONSORED: Dr. William To is part of a new generation of business owners investing in Alaska as a shifting workforce nationwide brings new challenges and opportunities to local communities.
Juneau optometrist Dr. William To says it’s a familiar story: Alaska patients can wait years before gaining access to new medical technology already in use elsewhere in the country.
Yet Lifetime Eyecare’s story is one of changing times. The U.S. economy is shifting as the Baby Boomer generation leaves the workforce. As aging business owners look to retire, a new generation is stepping in to continue their legacies both nationwide and in Alaska.Dr. To opened his optometry practice in California at the onset of the COVID-19 pandemic.
Dr. To spent some time in Juneau before he made his decision. He met with locals and sensed it was a community he wanted to serve. Six months after his first visit to the clinic, Dr. To took the reins.Lifetime Eyecare’s story of generational transition is becoming more common as more owners retire and sell their businesses. The Baby Boomer generation, born between 1946 and 1964, makes up roughly 44% of small business and franchisee owners in the U.S.
The wave of retirements also offers opportunities for the next generation, as financing is easier to obtain when buying an existing business. After he took over the clinic, Dr. To decided to keep banking with First National. Today, First National also provides Dr. To with financial solutions like merchant services for smooth payment processing.
Lifetime Eyecare’s growing staff comprises 11 team members, most of whom were around before the business transition. Image courtesy First National Bank Alaska Canaday, who has been with Lifetime Eyecare for a decade, said when Dr. To took over, he wanted to hear from the team about the changes they wanted to see at the practice.
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