How long does it take??????

[PARKAVEOPTICAL]

I have a question, how long does it take for and optical retail store to be successful?
I've been open little over a year and barely covered my expenses, the 1st year was better then the 2nd is this weird?
Thank you

[Jana Lewis]

I'm gonna go out on a limb and say that you need a good three years to get settled. :)

Ofcourse, that's just my based on my experiences.

I wish you luck!

[For-Life]

I have a question, how long does it take for and optical retail store to be successful?
I've been open little over a year and barely covered my expenses, the 1st year was better then the 2nd is this weird?
Thank you

You probably experienced an initial boom in the first year, and now it is settling down. I will be more conservative here and say 5 years.

But at this point, you may want to think of developing a promotional strategy. Right now, the goal should not be the sale you make tomorrow, but the sales you make over the next few years. You need to build you business.

[LENNY]

The second year is always not as good as the first year unless you diid something dramatic to increase the flow!

[FVCCHRIS]

The second year is always not as good as the first year unless you diid something dramatic to increase the flow!

Don't forget to also take into account the timing of your opening- the worst downturn in a long time. I hope you can hang in there. Give them excellent service and product, and hope they appreciate that enough to return again. ;)

Do you have any referral reward program? :idea:

[Striderswife]

Don't forget, it will take a year or more before people are return customers. Wow them with your services, and they will come back!

[Crazy-bout-Optics]

Just something to think about: The avg LC store takes 3 years after opening to turn a profit and they got the marketing $$$ from Lux. So for an ind. optical I would surmise 3-5 years.

~Crazy

[Aarlan]

Do you have an OD with you?

AA

[Johns]

I have a question, how long does it take for and optical retail store to be successful?

It varies by location, your overhead, your market, your product, your timing, and a lot more variables.

I have a store that we opened 3 years ago that is just starting to turn a profit, and is growing steadily each year. I have another store that we opened last year, that is now our number 2 store, and is growing faster than any we've ever had.


I tell folks starting a new office that they shouldn't expect to take anything out of it for at least 3 years. Most don't really believe me until they've been open for about 8 months, and then they start to wonder if they'll ever be able to take anything out.

I've opened 4 stores in the midst of recessions, and one just last month. While it is a bit more challenging, it's a great time to get settled in for when things take off again.

[PARKAVEOPTICAL]

My store doesn't have an OD and the location is great but unfortunately my front exposure is just a 5 x 8 window and it's not that visible from the sidewalk, I was thinking to move into a better exposed location on the same street or to close all together( i have 7 months on my lease).

[Jacqui]

I think your location is the problem. Might want to consider moving.

[Fezz]

"How long does it take????"


TOO LONG!!!!!!!!!

[Chris Ryser]

Banks have a policy not to lend any money to a business for the first 5 years, then they consider you as a permanent business. You will have to tighten your belt a little longer.

[For-Life]

Before jumping the gun to a decsion:

Have you done any research?
- is it location?
- do people know you are there?
- if you move, will it be better?
- if you move, will it be worse?
- what is the awareness of your store in town?
- do people even know you exist?

Marketing
- What is your product?
- Who is your target market?
- What is your point of differentiation (what do you offer that is better/different than your competitors)?
- What do you do in the way of promotion?

Plans
- What are your long term goals?
- What are your short term goals?
- What do you want to get out of this?
- When are you looking to be profitable?



I think you have to ask those questions first before making any rash decisions.

[PARKAVEOPTICAL]

I did consider a lot of things before opening and yes all the neighbors know i'm here.
The location is great

[Johns]

I did consider a lot of things before opening and yes all the neighbors know i'm here.
The location is great

Then don't move the store, move yourself! Get out into the community, constantly! Do all the old, worn out things that everyone says you should do, but they don't do them themselves. Speak everywhere! Churches, schools, any group. Don't join them, just speak to/at them. Tell them what's new, and remind them of what's old (what they're wearing:bbg:).

A nice window is a bonus, but if that is going to make or break you, then something else is wrong.

[LandLord]

Vito

Don't move your store.

Figure out what, if anything is going right and expand on it. Discontinue everything that is not selling. Then change your marketing to reflect your new focus.

In today's highly competitive eyewear market you need to find one specialty to focus on. Your website indicates your "competitive advantage" is:

"experience, quality eye wear, brand identity, customer satisfaction and a return to fulfilling the needs of a unique and diverse neighborhood and client."

Sorry, but everyone else on your street and in New York for that matter also offers the same. You need to be different. Dramatically different if you want to survive. What can you offer that NO ONE ELSE IN NEW YORK OFFERS?

You also say "La Rocca will be offering eyewear to meet the budget of every consumer who is interested in purchasing at his appealing neighborhood shop."

You should narrow that focus to one specific demographic. You can't get every consumer. Try instead to get a specific consumer. You won't like my next advice. Change your business name. Park Ave Optical is too generic. It tells prospects nothing about what you stand for. There you go I said it. Good luck.