Questions with opening an Optical Shop without a doctor.

[LSUpaul20]

To all,

I am looking into opening an optical shop without having a doctor because I was told that I can't hire a doctor. Moreover, I don't have a doctor to partner with. I have been an optician for almost 10 years now. I basically manage the shop by myself. I have looked into perspective location and talked to different vendors regarding restrictions. I also find out that most insurance company will not qualify a shop without a doctor. I have never own or start a business before, so I want to do my homework thoroughly. I would appreciate it if I receive suggestions and comments on what I need to look into and consider. I figured I should do as much research as possible.

If you can share how you did your business plans or what you considered when you start your business, it would be great. I would really appreciate anything you can share with me. Thank you in advance.

Thanks,

LSU

[price]

Fined several doctors in the area with less than a mile area. Ophthalmologist that can send there patient to you. I know that the sherwood area is an old area but there is money in that housing area.

Wish you the best.

[himmeroo]

Better wait until after the election.You'll never make it in this economy.I ran a 2 person shop for 25 years.No doctor.It was a rollercoaster ride with many ups and downs.I did surfacing and edging.I had a couple of wholesale accounts and some good safety accounts that I serviced.It's a tough go to say the least.Think it through with an open mind.Do the numbers and don't just go with your heart.

[kat]

I've been open 2 years now with no Dr. I have a great referal base, talk to MD's and other places around you that can't do everything that an independent can do (slab off's, prism, tints, no AR, POF's, etc) get to know the Eyeglass Repair person in your area. Try to specialze in things your competition doesn't do (Motorcycle, golf, etc). Good luck Feel free to PM me with any questions.
Welcome to OB!!

[EyeManFla]

I opend many shops with out doctors. It is all about location. I worked all the MDs in the area. O had only one office where I rented out space to and OD...and I'll never do that again!

[LSUpaul20]

Thank you so much for sharing your comments. Since there will not be a doctor, most insurance will not qualify the store, so I am concern about that. Also, if you can share things I should consider to research on, that will be helpful. Even better if you can share you startup experience and things I should do and things I shouldn't do.

Thanks

[Fezz]

I would strongly suggest that you look into different businesses to open.

I think a better shot at success would be a pizza joint, bar, model railroad shop, bicycle joint, barber shop, produce stand, etc.

[Fezz]

Locate your local SCORE chapter and go see them!

http://www.score.org/

They will help you plan and figure out how to continue your research.

I also suggest doing it debt free. Have AT LEAST 3 years salary over and above your start up cost to carry you through the lean first few years.

If you do not have a stockpile of cash.................you have a recipe for disaster!

[Johns]

I also suggest doing it debt free. Have AT LEAST 3 years salary over and above your start up cost to carry you through the lean first few years.

If you do not have a stockpile of cash.................you have a recipe for disaster!

I was going to say the same thing, but was trying to think of a nice way to say it. There's really no other way to say it...save your money, and have a bunch of it set aside (from what you are using to open with) to survive on.

I've done it, and was lucky enough to be married to a hot chickie that had an awesome job (she was pulling down $9.95 per hour w/ a master's degree).

If you look back at my past posts, you'll see that I am consistent in my belief that there is NO WAY I would open without an OD. I don't care how I had to do it (side door, separate door, whatever...), I would have an OD. Can it be done without one? Sure, but I must be a lousy optician because I'd never try it, and know many that have that have failed. (Send me a PM, and I'll give you the phone number to some of my employees that have tried it.)

Heck, if you look around, you'll see plenty of ODs that don't make it. I'm not trying to be a wet blanket, because you CAN have your own place and make money, but only if you use the right formula, and take your time.

[Johns]

Hey Kcount...care to join this conversation?

[LSUpaul20]

I appreciate all the comments. This is why I want to do all my research prior to starting the shop and figuring out what the right formula is. I know there is risk in opening an optical shop, so I'm trying to figure out as many risk as possible upfront and see what I'm getting into. Thank you for all the pros and cons comments. Anything you can share that I should look into for my business plan and research will be appreciated. Thanks.

[Java99]

I appreciate all the comments. This is why I want to do all my research prior to starting the shop and figuring out what the right formula is. I know there is risk in opening an optical shop, so I'm trying to figure out as many risk as possible upfront and see what I'm getting into. Thank you for all the pros and cons comments. Anything you can share that I should look into for my business plan and research will be appreciated. Thanks.

I opened my own shop, no doc, in February. I am doing great so far, about to have to hire someone. I am surrounded by MDs who do not dispense, and in a high growth area, and I am doing things very, very differently than the other opticals near me.

The right formula is very different from one area to the next. If I were you, I would do a projected cash flow for the next five years and see if you still think this is a good idea. Maybe it will be, maybe not, but you have to get from here to there. Can you financially shoulder the risk? Can you work 80 hours a week without cracking? Are you good at negotiating with vendors? Can you come up with a marketing plan?

Lots to think about.

[kcount]

Since I was invited.

I opened in November of 2009 with no doc. Did the rounds and got some MD's to refer and wasted $$ on newspaper marketing etc. Lived through my first year and built an exam room first quarter of my second. In all honesty I wouldn't open another office with out an OD on site. Having the OD takes you off the 'To-Do List' and puts you on the 'Appointment' List. You suddenly have recall letters which are permission based marketing (you do add in a 4 color newsletter... right?). Your office grows you get rich and retire to the islands. Ok that last part was a dream but your office will grow and you'll make a nice living. Make sure you have 4-5 years of income saved. What ever you have budgeted for costs, double them. Realize your first concept for an office may and probably wont work the way you want, so have a plan 'B'. Year 2 sucks. Year 3 Rocks. Present consistant results. Remember your selling a widget the real question is whats your 'Value Add'? Network... network... network it's the new marketing. Listen to all ideas, steal them when their good. NO YOUR DEMOGRAPHIC! Chrome Hearts is cool, I know, but it wont sell in a convent or if your two blocks from the largest and most successful Catholic Church/Parochial school in the Southern states.

There ya go thats my crib sheet for anyone looking to open their own shop.

[kcount]

... Can you work 80 hours a week without cracking?.

Frackin' part timer. LOL

[kcount]

Speaking of 'Know your Market' Sat down to day with the Matsuda Rep. Great guy and Awsome product. No sale. Why? It retails at aver $500 per unit and my market cant bear that type of cost. Rather than me sink money in a hard sale I chose to invest in product that can sell. Know what your customer base wants/ desire, then market that thing to them. Its easier to build a following if the following is simply looking for a quality source. Your mission... be the quality source.

[chip anderson]

Where you are, if you advertise and make the right contacts you might just be able to make a living with "referral fees" for refractive surgery from the various "teaching institutions."

Chip

[Java99]

Frackin' part timer. LOL

I know, I'm a slacker.

[Java99]

Speaking of 'Know your Market' Sat down to day with the Matsuda Rep. Great guy and Awsome product. No sale. Why? It retails at aver $500 per unit and my market cant bear that type of cost. Rather than me sink money in a hard sale I chose to invest in product that can sell. Know what your customer base wants/ desire, then market that thing to them. Its easier to build a following if the following is simply looking for a quality source. Your mission... be the quality source.

This might be the most important thing of all. Has to be demand for what you're selling.

[Johns]

This is why it's nice to hear from Java99 and Kcount...not only have they done it, but they're DOING it. I'm in the process of opening another office, but in my case, I've got the other offices covering my sins, so I don't always think about just how difficult it is opening the first one.

Great stories, both of you!

[Java99]

Thank you so much for sharing your comments. Since there will not be a doctor, most insurance will not qualify the store, so I am concern about that. Also, if you can share things I should consider to research on, that will be helpful. Even better if you can share you startup experience and things I should do and things I shouldn't do.

Thanks

Regarding insurance: find a viable way around it, or get a doc. If you're in a "just what my insurance covers town" and you can't take it you have a huge problem.

I opened with the belief that I could take Eyemed. I was wrong. So far my way around it is working, but I am not fighting other opticals for the $150 sale. If I were I'd have been out of business two months ago.

[LSUpaul20]

Chip - I'm in Baton Rouge, LA.

[LSUpaul20]

Yes, I agree. It is helpful to hear from the owners that are "doing it". I appreciate all the comments and given me a lot to consider. Thanks everyone for sharing your experience and comments.

[chip anderson]

I know you are in Red Stick. I have a friend who was in your area with an optical shop who related that a certian educational institution (they have a very good football team) with a medical school was paying him (I think $500.00) for each refractive surgery referral,
Whether the program is still on or if you can get in on it, I don't know. But if your "ethics" will allow you to do this, look into it.

Chip

[tx11]

Rent !!!!! Electricity !!!! AAAARggghhhh!!!

[Johns]

Rent !!!!! Electricity !!!! AAAARggghhhh!!!

My rent and utilities are among my lowest recurring bills. Payroll is what really socks it to me! (Not that I mind, as I've got the very best employees.)