start-up considerations

**YrahG** · 05-25-2010, 09:24 PM

Fear of failure can lead to an unsuccessful future. I agree that you should cross your t's and dot your i's but don't be afraid to move forward with a well laid out plan of action. At 22 years of age you may fail and if you do it will be great experience for the next time around and their will be a next time around if you taste your first failure. Who knows you may even succeed and fail at your 5th or 6th store. I failed more than a few tests through school, the first one I learned not to go out partying before a big test, the next one I learned to study over time and not just cram. Basically what i am saying is you should take a crack at it, but do your homework.

Buy Ikea and retrofit frame bars into it, this can save money and create a great look. Try some of the folks here in the marketplace for equipment they can get you quality used for a good price. Computers are cheap, you can run faxes through them, copy with them, and access the internet and various other useful tasks. You need a credit card terminal, you can lease them or pay for them outright, a decent one can be expensive, you can also go refurbished. Keep in minds pens, paper, letterhead, business cards, bathroom cleaner, windex, carpet cleaner, a vacuum, etc. No one seems to remember that a store like a home gets dirty. Vacuums can be purchased from a local goodwill store for cheap or you can bring yours from home every few days if your significant other won't get feed up with you. Get good quality frames at a great price, that means your going to have a hard time with the big boys so stick with some smaller vendors don't purchase anything with minimums at the start up stage. When I think of more tips I'll post.

**Fezz** · 05-25-2010, 09:33 PM

Originally Posted by elaneo

the reason why i would like to start it ASAP is that if it fails i know ive tried and at least ill have a lot of time to save for retirement (im 22) and pay w/e off ive used (loans/line of credit) (possibly family loans)

Please................*P*L*E*A*S*E*.....do not drag family into this!

Please believe me, trust me.......listen to me........DO NOT BRING FAMILY INTO THIS!!!!

I have seen first hand the problems that this creates. Life is too short and too precious, don't involve family!

**Fezz** · 05-25-2010, 09:36 PM

Originally Posted by uncut

Fezz: Work hard,,,,,,,,,,,play harder!!!!

I do!

Do you?

Should the Op do the same?

Why?

Why not?

**Fezz** · 05-25-2010, 09:43 PM

Originally Posted by YrahG

Get good quality frames at a great price, that means your going to have a hard time with the big boys so stick with some smaller vendors don't purchase anything with minimums at the start up stage. When I think of more tips I'll post.

This is great advice!

But, the OP seems to be drawn to a different mindset on what frame lines that they want to pursue and highlight. Are those vendors small enough to buy into without pricey minimums? Will the furniture, dispensing tables, tools, wallpaper, and decor match the lines that they are trying to push? Will age be a factor, meaning will the young age reflect something that may not be what someone buying this type of product expects? Will the product demand an air of age, experience, and signs of expertise in this industry that the OP may not posses because of age?

So many things to consider!

**elaneo** · 05-25-2010, 09:46 PM

Originally Posted by BMH

Don't mistake optical experience for business experience.

Of course it can be done, there are many people doing it now. My main point, HAVE MORE MONEY THAN YOU THINK YOU WILL NEED!

thanks for this post...it really does seem like this is the case. i wasnt planning on opening until 2012...but now i am thinking i may take a little more time.
ive considered most of the expenses listed already aside from a few fees and the debit/credit machine.
to save a little more i would use my own laptop/printer. The only real thing that is stopping me is the capital. I would love to open up right away but will hold off
until i have the money to back my business up.
and yeah the only real optical furniture i was thinking of purchasing were the display boards. but im sure with the rest of 2010 and 2011 i will have gained much more knowledge,
capital, and items to begin my business.
im still hoping for a 2012 open, but am not taking everyones warnings lightly.

i value EVERYONEs input and again appreciate it all. Thank you for sharing your knowledge.
hahaha...i kinda wish 2012 was tomorrow so i would be able to update you all with my plans.
hopefully in 2 years.

please keep posting if there is anything else that needs to be brought up.
THANKS AGAIN!!!

**elaneo** · 05-25-2010, 09:56 PM

Originally Posted by Fezz

This is great advice!

But, the OP seems to be drawn to a different mindset on what frame lines that they want to pursue and highlight. Are those vendors small enough to buy into without pricey minimums? Will the furniture, dispensing tables, tools, wallpaper, and decor match the lines that they are trying to push? Will age be a factor, meaning will the young age reflect something that may not be what someone buying this type of product expects? Will the product demand an air of age, experience, and signs of expertise in this industry that the OP may not posses because of age?

So many things to consider!

i have not experienced this at all, but i would be a fool to say that does not happen.
and to the family comment. i know what you mean....as it happened to my current boss and my parents. and my parents are all for me going on my own and will back me no matter what. but i am not an inconsiderate person that will take advantage of such an opportunity they offer. as much as my desire is burning right now, i like to be prepared which is why i wanted to know this information from others.
as a child, i played chess a lot...and in that game you must be several moves ahead as well as have an alternate/exit strategy in your plans.

**Fezz** · 05-25-2010, 09:56 PM

Originally Posted by elaneo

i value EVERYONEs input and again appreciate it all. Thank you for sharing your knowledge.

THANKS AGAIN!!!

You can send your first consultation payment to the:

FezzJohns, Inc. Beerslide Refurbishing and Expansion Fund

**elaneo** · 05-25-2010, 09:58 PM

Originally Posted by Fezz

You can send your first consultation payment to the:

FezzJohns, Inc. Beerslide Refurbishing and Expansion Fund

A round is on me if i become a success :P

**Fezz** · 05-25-2010, 10:00 PM

Originally Posted by rbaker

And, on the other hand, one of the most successful opticians that I know started his business with less than $1000.00 back in 1968. He and his family (wife and three toddlers) lived in the back room of the store for the first year. Today, he has a whole passel of stores and is surviving in these difficult times quite nicely.

And, on the other hand,.................................1968 was a long time ago. The world has changed a bit, the industry has changed, and consumer buying habits have changed!

Heck, I know a few folks that may or may not have won a substantial windfall from a lottery or two!
They seem to be surviving these difficult times quite nicely as well!

**Johns** · 05-25-2010, 10:12 PM

Originally Posted by Fezz

And, on the other hand,.................................1968 was a long time ago.

...and on yet another hand (how many hands do we have anyway?:bbg:), I can't think of a better time to start a business than in the middle of a recession. If you can make it now, you'll be able to make it anytime! (Not to mention the rents are lower, COG can be negotiated easier, plenty of folks looking for work, etc...)

**braheem24** · 05-25-2010, 10:15 PM

It's obvious this 22 year old didnt spend his youth high like most of the population. He/she has more common sense then most adults and business owners I meet daily.

That said,

I would work and learn from the best and have them pay you to do it before opening your own store.
I would buy and pay for everything while learning in the next few years, instead of scrambling last second and overpaying.
I would find and move to the location where your services are needed, instead of imposing your ideas on your nearby demographics.

Good luck!

**elaneo** · 05-25-2010, 10:20 PM

Originally Posted by braheem24

It's obvious this 22 year old didnt spend his youth high like most of the population. He/she has more common sense then most adults and business owners I meet daily.

Good luck!

LOL....its funny you say that. though ive had my fair share of drinks, i havent smoked that ever in my life!

**rbaker** · 05-25-2010, 10:40 PM

Originally Posted by Fezz

And, on the other hand,.................................1968 was a long time ago. The world has changed a bit, the industry has changed, and consumer buying habits have changed!

Heck, I know a few folks that may or may not have won a substantial windfall from a lottery or two!
They seem to be surviving these difficult times quite nicely as well!

Yes indeed, 1968 was a long time ago and the optical business has changed drastically in the ensuing years. Back in those days it was often said that being an optician gave one the license to print money. You could, in fact, have AO, B&L or a local independent lab set you up with a complete turnkey operation and "don't worry about paying it back - just keep the orders coming in."

That being said, if you are not technically at least a journeyman, do not have a good business sense, are not willing to work 60 hours a week and are not willing to change your business model at the drop of a hat you will most likely not survive.

The true entrepreneur sees opportunity in any business climate.

**Johns** · 05-25-2010, 10:51 PM

Originally Posted by rbaker

That being said, if you are not technically at least a journeyman, do not have a good business sense, are not willing to work 60 hours a week and are not willing to change your business model at the drop of a hat you will most likely not survive.

Isn't that the idea? You go into business so you can work 80 hrs a week for yourself, so you don't have to work 40 hrs a week for someone else!

**rbaker** · 05-25-2010, 10:54 PM

Originally Posted by Fezz

Please................*P*L*E*A*S*E*.....do not drag family into this!

Please believe me, trust me.......listen to me........DO NOT BRING FAMILY INTO THIS!!!!

I have seen first hand the problems that this creates. Life is too short and too precious, don't involve family!

This is the best piece of advice in this thread.

When I retired about ten years ago my wife and I did some estate planning and were fortunate to find a wonderful elder law attorney whose council was an absolute eye opener for us. Making a long story short we set up a revocable trust which will insure that our single wish, the education of our children, grandchildren and beyond will be provided for. We had also discussed other issues such as assisting in business start-ups, etc. but when all of the negative ramifications were looked into we decided to limit our legacy to education.

We heard horror stories of siblings at one another's throats over failed businesses or divorces where the spouse ends up with half the pie.

So, if my son wants to open a titty bar and gin mill he is on his own. It will just break my heart to refuse him, but . . .

**Fezz** · 05-26-2010, 02:18 AM

Why not open a business where you can make some serious scratch?

I think the days of making serious scratch in optical have long disappeared!

**Chris Ryser** · 05-26-2010, 03:54 AM

Originally Posted by Fezz

Oh yeah, save, save, save............then.....save some more!

One more thing...............Banks give no credit to businesses that have not survived for 5 years.

Do a detailes research on the net on the future of retail opticians, make a conclusion if it is worth jumping into the pond in a few years from now.

**elaneo** · 05-26-2010, 06:48 AM

Originally Posted by Johns

Isn't that the idea? You go into business so you can work 80 hrs a week for yourself, so you don't have to work 40 hrs a week for someone else!

dont worry about hours,....im experiencing them now...61.5 work weeks. im running a store...dont forget.

**elaneo** · 05-26-2010, 07:00 AM

Originally Posted by Fezz

Why not open a business where you can make some serious scratch?

I think the days of making serious scratch in optical have long disappeared!

you know when i first got into the industry working for my current boss i considered starting an online business to cut overhead. but then when i actually studied opticianry i figured it wasnt a good idea lol. mainly due to service issues. but who knows what our industry will look like in the next few years. for now im going to search for a lensometer...and if all goes bad in the market and i choose not to take the plunge, ill be able to neutrlize my glasses for FREE =D

**Bill West** · 05-26-2010, 07:35 AM

Originally Posted by Johns

...and on yet another hand (how many hands do we have anyway?:bbg:), I can't think of a better time to start a business than in the middle of a recession. If you can make it now, you'll be able to make it anytime! (Not to mention the rents are lower, COG can be negotiated easier, plenty of folks looking for work, etc...)

I did this, opened January One 2009. However, you must offer prices that will truly save people money, no gimmicks. Because of the high prices in the town I opened in, I am able to save folk from $100 to $400 on a pair of quality eyeglasses and still make good money working 3.5 days a week. The response has been tremendous. I will be glad to share some of how to do this if you PM me. I am a little suprised at Fezz being so gun shy. Fezz, are you independent or do you work for someone? My guess is, you work for someone else and have no idea what independence is like.

**Speed** · 05-26-2010, 07:56 AM

Someone once told me "you can make a small fortune in the optical business. You must start with a large fortune."

**Fezz** · 05-26-2010, 08:01 AM

Originally Posted by Bill West

I am a little suprised at Fezz being so gun shy. 1.)Fezz, are you independent or do you work for someone? 2.) My guess is, you work for someone else and have no idea what independence is like.

1.) I work for someone.
2.) I am very aware of what independence is like! In fact, I have seen the devastation of family, health, finances, and ruined relationships that a failed business and independence can do. I know what can happen. We can not all be Bill Wests!

**elaneo** · 05-26-2010, 08:31 AM

Originally Posted by Fezz

1.) I work for someone.
2.) I am very aware of what independence is like! In fact, I have seen the devastation of family, health, finances, and ruined relationships that a failed business and independence can do. I know what can happen. We can not all be Bill Wests!

have you experienced the devastation yourself or from afar? IMO i believe you have to know the people involved for many years and ive seen what i can expect at the people i may borrow from.
im not going to borrow like 50k from family even if they did let me borrow that much, because i know in my heart if i couldnt repay them it would not only hurt them but also me because i know they have already given me so much. i may think business oriented sometimes, but i have my moral standards and am greatful for any experience/advice/funds that are gieven to me.
i understand when you say "dont include family" believe me i do, because i know the personalities i am dealing with. but have you yourself been in the situation of borrowing for a business...i am not talking about anything else really, because if i do this i will obviously be commited and will be with the business most of the time, making it hard for me to be working while running the store.

another reason why i am going into business is because at roughly 40-50k a year (50 being made possible because i work more than 40 hours a week.) i will not be able to live comfortably with a family/save for me/for my children/and help my parents with purchases i know will be made in the near future.

**jmchapman** · 05-26-2010, 01:14 PM

you should market your store as "eco-friendly" and tap into the "green" market.

**elaneo** · 05-26-2010, 01:41 PM

Originally Posted by jmchapman

you should market your store as "eco-friendly" and tap into the "green" market.

like "paperless records" and energy efficient equipment?
i think ive read somewhere on another thread someone saying "no optical will ever be paperless" which i can understand...ie. necessity of paper files, order forms from labs, etc. (mainly talking about paper waste because i know there is A LOT of paper...and i mean a lot of paper that is used especially with the larger corporate stores...(yes ive worked with one)

i am very in-tune with the technological age we're in and am all for saving space by electronic filing.
but a good idea though thanks!...itd probably save on supplies/utilities...but every little bit counts right!