I am getting ready to go out on my own and open a store. I am putting in a doctors lane, but it will take time to build patients. Am I hearing you all say that I don't necessarily need to accept insurances to do this? I was ever so graciously given an optical when my job was eliminated. Frame boards, desks, the works. I have been so blessed and I want to honor that gift by making smart choices!
I think the insurance issue depends greatly where you are. I don't take it, but I'm offering something in my area no one else does, and I do a lot of helping to fill out OON claim forms. My area is also growing rapidly, and is the center of the cutting horse industry. The cost of good glasses is nothing compared to the cost of hay right now.Originally Posted by grif892
There is so much great information in this thread!
To tx11, I am probably in a similar situation to you. I see how others around me are doing things wrong and realize that I'll be better off once I branch out onto my own. While I am currently trying to save up as much capital as possible, I am buying used equipment when I find it at a reasonable price ( I recently grabbed a fully functional lensometer for $70, delivered to my doorstep). While I might be able to go to a bank for a loan and open up sooner, I would much rather do this on my own terms, without having to worry about coming up with $xxxx each month to pay the banksters.
I can't afford to go out and buy 1000 frames right now, but if I see a decent deal on 40-50 frames then I will try to snap them up. There is a local mini-chain that is closing one of it's shops but they were wanting more for their frames than I was willing to pay (apparently they go through the reps and pay high prices and sometimes get stuck with frames they don't want. I wonder if that's part of the reason they are downsizing). Since I'm doing this on my own terms, I can be picky and don't have to take whatever is offered to me. I will wait and look for better deals. I am planning on this probably being a 2-year project before I open my own place. I think long-term, so the wait does not bother me. I'd rather do things right and save money when possible.
I've been paying off debt the past 1.5 years and as of yesterday I am 100% debt-free. Now I can start getting hardcore about saving.
Good luck to you.
Bravo! You must feel like you have the weight of the world off your shoulders!
I have always daydreamed of owning my own shop. I have so many ideas, most revolve around having an 'ye olde fashioned' optical shop experience. Alas, I don't think I would make a good boss man, I'm more of a good number two.
While I don't disagree with any of the advise given, the absolute most important thing you need is:
A source for prescriber referral. With this alone you can at least exist even if you are near incompetent, of course you will last a lot longer by doing a good job. However one should not exist on referral alone, while essential, sources of referral sometimes go away, your good friend the doctor, could find a reason to open his own dispensary or go into partnership with someone who dispenses and you may find your good friend has become a distant aquaintance.
Lacking the above or in addittion to you need enough cash to operate for a year if no one comes in the door and do a lot of advertising with some sort of gimmic (low prices, free whatever, etc.). Also be advised that many good loyalcustomers will go away to someone else's gimmic over time. They may change prescribers who holds on tightly to his Rx's and conciders returning patients to you after referral not within his scope of ethics.
I could go on about all the pitfalls (would require a whole other lengthy thread), and I would not advise anyone to open an independent optical dispensary (one without a Siamese connection to one or more prescribers) in today's society. While some do and a few like John's succeed, it's really tough out there for independents no matter how well qualified.
Chip
Chip
I have been working on my own shop for over a year. In spite of their claims otherwise, I have found the banks unwilling to lend money and I'm grateful that I haven't had to go into debt to open my store. That may change if I have a slow start LOL! But I let my reps know what I was doing and they have offered me frames for very reasonable prices, and I have been very lucky to get a TON of inventory for a song. Check out places that are remodeling, they just throw everything in the trash. Yesterday I picked up desks and cabinets for my exam lane, track lighting, pot lights and a reception desk for FREE! Woohoo! If we go out there and show the world that we are the highest caliber Opticians, people will talk and you will do well. Go for it, I am!
Do you think that there is such a thing as an OD who just wants to be an OD and NOT a retailer? Perhaps one that would wish to do "Dr. Things ONLY"? One that would PARTNER with an Optician (equals).
I think there are MANY docs who don't want to be a retailer. Those are the ones who choose to work in a clinic setting instead of traditional retail stores. All of the docs that are considering working with me want to work per diem as subcontractors. They don't want to own their own business and I'm the lucky one to benefit!
Hi everyone,
I am looking for some insight from all of you experienced professionals. I've been in the business as a licensed optician for 7 years now. I am considering opening my own opthalmic dispensary in Alberta. I am doing all my research right now on starting the right way. Any advice is appreciated. Also if anyone knows the rule of thumb of an OD being hired to work for an optician. I read somewhere that's against the regulations of the association but I know of an opthalmic dispensary that has a part time OD that does eye exams in their shop.
PS. All of you above have inspirational qualities!!
Java, I am particularly interested in your journey *and*, I've been told that johns also has alot of experience in this. My current status is that I am late in years (50s) but I would love to open my own optical. I have no capital, but excellent credit. What would you say the "turn key" cost is? And how might one go about negotiating good loan terms?
Rebel,
That question has a million answers. Depends on your concept, your area, your demographics, doc or no doc, etc. The best resource I found was the Pro Forum here.
Rebel, an optical business is like a landscaping business. The barrier to entry is surprisingly low, that is , it does not take much money to "turn key". The difficult part is getting to "turn profit".
The pro forum is definitely the place to go for the answers. We can talk more specific there.
Ophthalmic Optician, Society to Advance Opticianry
Always set aside some...........................
That was a nice statement Craig.
I have the most respect for people who have the guts to become independent. Learn the ways how different types of businesses function successfully for a few years, while improving your skills and then invest your time and money in the way that suits you best. Every startup is tough and needs belt tightening for the first few years, as banks shy away from giving business loans before you have survived the first 5 years.
I have been independent since the age of 28.
One advise I followed religiously all my life was by my old corporation lawyer of years back. He said, ane should always build a nest egg when times are good, to fall back on, when times are getting tough, which they can anytime when you are in business.
So I set up a holding company and invested into Florida real estate for many years as much as I could set away periodically, and it turned out to be a good move.
There are two ways to be successful, either go really "high end" with exotic frames or go "value". It will depend on your area and your passion which way suits you best. If you fall into the middle of the road you probably will have a tough go.
How would you guys and gals define "value" What frame lines? AND "value" compared to whom?
Theres another indie optician where I live. She buys discos and sells them for $60. Her frame displays are nails in a wall she hangs them from. She also has a bunch of tanning beds behind a curtain next to the optical. She has been there for over 20 years.
Value can be defined differently. You can be the absolute cheapest, completely discotinued frames. You can be low priced, but offer disco frames with top notch lenses. Especially good if you sell premium frames at low prices. You can find frames yourself in Europe or Japan that are well priced and unknown, but you can sell them for a decent mark-up because they don't have distribution or advertising costs (I believe Johns does this). Here the value is provided by the manufacturer.
"The Optical Underground" in San Francisco does a great job with Premium Value. He buys overstocks and disco's directly from premium manufactures, he uses a lot of low priced Free-form lenses (Great lenses, but not Essilor or Hoya). He provides everything for a lot less than anyone else is San Fran but the manfactueres provide the value on the frames, he provides the value on the lenses.
You can mix and match value depending on what your market needs the most. In best cases, your buying smarter and letting the manufactures provide the value.
I have been open 2 years now!! I started on a shoe string (under 10,000), but like mentioned above, I started purchasing about 1 year prior to opening. (I had a way to get rid of what I purchased if my dream didn't come true). I put in a good mix of lower-mid to mid-higher (Capri to Lafont). I also made sure that I could afford my monthly rent for at least 5 years of hard times. Also, find a location that has a good mix of businesses as well as traffic. One of the best things I did was put a banner on the outside of my building telling everyone that I have Rx Motorcycle glasses available, a nice niche. Start working your referal network and you wont have to worry about insurance or a Doc right away. I now have a few Doc's asking if they might put a lane in. I keep my prices very resonable, I refer back to Johns, NEGOTIATE everything.
I wish you the best of luck, I have never regreted going solo and my husband and I are starting to talk about our second location with in the next 2-3 years.
One thing to remember, HAVE FUN!!!!!! Even when you have one bad day, the next can be so awsome.
I came, I saw, I left
Assuming the flow of RX's from OMDs to a new independant shop are slow in comming,What are some low cost methods to get noticed by the public?
Everyone talks about it, but few do it...Public Speaking.
Also, spend afterwork hours near your practice, shopping, mingling, and meeting people...talk your business up.
Why do you think, with all the money spent in political campaigns, that the candidates STILL go door to door? You can't beat it in terms of making a connection with the people.
Think outside the box. I had a shuttle van that would pick up patients and take them home. On the hottest days of the year, we would load it with coolers, buy 50 lbs of ice, 10 cases of water and soda, and drive around the town handing out free cold drinks. It not only got us noticed by the locals, but landed us a front page photo of how to beat the heat.
Keep thinking, but more importantly, start DOING!
Ophthalmic Optician, Society to Advance Opticianry
What Johns said. Join your chamber of commerce and their leads group. Do free repairs in nursing homes. Clean glasses in the grocery store check out line. Do volunteer work. Facebook. Sponsor local charity raffles with whatever you can finagle from your vendors.
How agressive can an optician be in asking OMD's for their referrals? Just buying their staff lunch? Giving business cards? Inviting them to visit our office? Is it too tacky to ask if we could place flyers on their patients car windows?
Flyers are tacky, imo.
I've done okay just calling to see if he/she has time to meet for a minute, and ask what I can do to help him keep his patients happy with their glasses. I stop by once a month or so and restock them on cards, brochures, cleaning cloths and spray cleaner to give out.
Hours and counting for my big opening! Frames are dusted and cupcakes are out! Thanks for all the advice! I am still watching for more....
Best of luck on the opening!
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