Now that you have the perfect optical store, we want to share some ways to make it a profitable one. We have put together a simple guide to optimize your optical business.
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You must have a clear plan set in place. Do you know what your KPIs are? Your key performance indicators (KPIs) should be discussed and discussed to make sure you are hitting your marks monthly.
What are your monthly expenses? They need to be written down and saved so that you can return to them and update them as necessary.
Who is your target market? Who is more likely to come into your store? Are you located in a convenient area for them?
A study conducted by the Vision Council of America revealed that almost 75% of adults require vision correction of some kind. 64% of those polled prefer glasses over contacts. These individuals will comprise a large portion of your client base. Children and teenagers in need of corrective lenses will also come to you for assistance. Additionally, many eyewear stores serve the consumer with 20/20 vision shopping for glasses to complement their wardrobe or complete the look they’re striving for.
Too many vendors are an all-too-common revenue buster.
A single location needs only seven or eight vendors. Some experts recommend as few as three to five if you serve a market with lots of seniors who are likely to choose similar, conservative styles, so you need to know your target market.
If you limit the number of vendors you work with, your optical manager has the availability to negotiate good terms with each and to draw up written partnership agreements that protect your practice, just as you do insurance contracts. You also set yourself up to negotiate volume discounts, and you simplify your bill-paying.
Don’t forget the small, independent eyewear manufacturers when considering your frame selections. Many times smaller, independent vendors have high-quality and fashionable designs at much lower prices.
Frames typically are 43 percent of a practice’s expense and 30 percent of revenue, so you need to be sure you are keeping an eye on your inventory.
By limiting the number of frames, you carry you’ll have sufficient inventory to roll through your location, but not so many that you’re tying up revenue unnecessarily. Larger locations can handle frames, and smaller locations should carry around 750. Some opticals in particular markets with lots of seniors can profit very well with as few as 600.
Create an incentive system that encourages your optical staff to sell as a team and to suggest the products that truly benefit your clients.
The most profitable optical businesses have found a way to engage their staff in developing the business. Each employee knows what’s at stake, understands and supports the company’s mission, shares the team’s vision for the future, and finds personal satisfaction in their role in the business.
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Buying eyeglass frames from a local optometrist may not be the first option that comes to mind, especially with the convenience of online shopping and the allure of big chain stores. However, there are several advantages to purchasing your eyeglasses from a local optometrist that you may not have considered. By understanding these benefits, you can make an informed decision and ensure the best possible care for your eyes.
One of the main reasons to buy eyeglasses from your optometrist is the expert guidance and personalized service you will receive. Optometrists are trained professionals who can help you navigate the often overwhelming world of eyeglasses. They can provide recommendations based on your specific needs, preferences, and lifestyle.
When you visit a local optometrist, they will take the time to get to know you and understand your vision requirements. This personalized service ensures that the eyeglasses you choose will not only look great but will also provide the best possible vision correction. In contrast, when you shop at big chain stores or online, you may not receive the same level of care and attention.
Another reason to buy glasses at eye doctor is the accurate measurements and proper fitting you will receive. Your optometrist will take precise measurements of your face and eyes to ensure that your eyeglasses are the perfect fit. This is crucial for both comfort and effectiveness, as improperly fitted glasses can cause discomfort and even impair your vision.
Your optometrist will also adjust the frames to fit your face perfectly. This includes adjusting the temples, nose pads, and other frame components to ensure a comfortable and secure fit. When you buy eyeglasses from a local optometrist, you can be confident that your glasses will fit properly and provide optimal vision correction.
Choosing to buy your eyeglasses from a local optometrist is also an excellent way to support local businesses and your community. By purchasing from a local optometrist, you are investing in the success of a small business and contributing to the local economy. This, in turn, can help create jobs and support other local businesses, leading to a stronger community overall.
In addition to the economic benefits, supporting local businesses can also foster a sense of connection and community pride. When you buy from a local optometrist, you are more likely to receive personalized, attentive service and build a relationship with the professionals who are caring for your vision. This can create a sense of trust and loyalty, which can lead to a more satisfying experience overall.
When you choose to buy glasses at eye doctor, you will likely have access to a wider selection of exclusive and high-quality frames than you would find at big chain stores or online retailers. Local optometrists often carry designer and specialty frames that may not be available elsewhere, allowing you to find unique and stylish eyewear that suits your personality and preferences.
In addition to the exclusive selection, the frames available at local optometrists are often of higher quality than those found at big chain stores or online retailers. This means that your eyeglasses will be more durable and long-lasting, ensuring that your investment in your vision is well worth it.
Finally, when you buy glasses at eye doctor, you may be eligible for discounts and insurance benefits that you wouldn't receive from big chain stores or online retailers. Many local optometrists offer special deals and discounts to their customers, such as package deals, discounts on multiple pairs of glasses, or other promotions.
In addition, your vision insurance may cover more of the cost of your eyeglasses when you purchase them from a local optometrist. This can save you money and ensure that you get the best value for your eyewear investment. It's always a good idea to check with your insurance provider and your optometrist to see what benefits and discounts may be available to you.
In conclusion, there are many compelling reasons why you should buy glasses at eye doctor, specifically from a local optometrist. From expert guidance and personalized service to accurate measurements and proper fitting, access to exclusive and high-quality frames, and potential discounts and insurance benefits, choosing to buy your eyeglasses from a local optometrist is the best choice for your eyewear needs.
By supporting local businesses and receiving the highest level of care and attention, you can ensure that your eyeglasses will not only look great but will also provide the best possible vision correction.
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