Announcement

Collapse
No announcement yet.

Want to open new Optical shop, thinking of going with a Franchise

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Want to open new Optical shop, thinking of going with a Franchise


    #2
    Invest in a pizza shop.............much better use of funds!

    Don't do it unles:

    *You have all of the money up front = don't do debt!!!!!!
    *Have at LEAST three years of your current income saved over and above the opening costs to support you through the lean times and the eventual bankruptcy!
    *Don't do anything until talking with a lawyer and an accountant, and then another lawyer!
    *You don't enjoy any free time!
    *Your dating life is even worse than the optical business.
    *Your liver is in great condition {it won't be after the bankruptcy}!
    *Open a pizza shop instead!

    Comment


      #3
      Where will your patients/customers come from?

      Who will send you work?

      Why hasn't anybody opened near you? Were they smarter? Could be!


      PS. Pennsylvania is the pits! I know, I live here!

      Comment


        #4
        Franchises usually require a large up front investment and take a percentage off the top. Usually a big one.

        A business plan is necessary, no matter what. You need a roadmap. You need to be forced to think about every possible scenario and come up with a strategy. I am so glad I spent the weeks I did working on mine. Without it, I would have had nasty surprises already.

        I opened my own shop in February after running someone else's for far too long, and it's going great, but here's the biggest thing I've learned so far: cash is king, no exceptions. Have lots of cash on hand.

        The second biggest thing I've learned is that if people have a reason to come see you, they will. But you HAVE to give them a reason to choose you over someone else. (see Fezz's post : where will your customers come from?)

        And Fezz is right about time. I have a few free hours each week, usually Saturday nights after about 9pm, and that's it. That will improve over time, but I'm a perfection freak and have to have my hands on every job that goes out the door, so probably not for awhile.

        Good luck.

        Comment


          #5
          I'd open a tire store.
          90% of everything is crap...except for crap, because crap is 100% crap

          Comment


            #6
            Originally posted by RIMLESS View Post
            I'd open a tire store.
            I have a cousin selling one in Colorado if the OP is interested...

            Comment


              #7
              Maybe I'll go partners with Fezz.
              Although pizza sounds very tasty.........
              90% of everything is crap...except for crap, because crap is 100% crap

              Comment


                #8
                Pizza vs tires vs optical....pizza sure smells better than a tint tank!

                Comment


                  #9
                  Originally posted by Java99 View Post
                  Pizza vs tires vs optical....pizza sure smells better than a tint tank!
                  noone will complain about the high prices or ask you if you take their insurance either.

                  Comment


                    #10
                    honestly, never have looked at franchise before, but I would think all they do is get you deals on stuff and help you get setup. My guess is that you're still gonna need the same money and same financial credentials to get a lease, ect..... In otherwords, they are not going to hand you the keys to the place and say enjoy the profits.

                    Comment


                      #11
                      how about FEZZ FRANCHISE?

                      Comment


                        #12
                        Originally posted by LENNY View Post
                        how about FEZZ FRANCHISE?
                        Are you pimping Fezz out?
                        90% of everything is crap...except for crap, because crap is 100% crap

                        Comment


                          #13
                          Originally posted by Dana7Wheel View Post
                          I am in an area that has 0 Optical shops for at least a 30 mile radius. I am in the insurance field and have been for 10 years. I am very confident this will work as the area is growing rapidly. . I have started a business plan but I am not sure if this is necessary if I am considering a Franchise? Two questions, does anyone recommend a Franchise? Does anyway have any good advice to give on getting started? I would like to expedite this, as I am considered someone else will have the same idea soon.

                          Thank you!

                          1. If nobody has put an optical there yet, there's a good chance your idea is safe.

                          2. I've highlighted the reasons why a franchiser would look at you as a wolf looks at a limping fawn. If you are asking if a business plan is necessary, then you are not ready.

                          3. Have you been successful selling insurance? Most corps. selling franchises want to sell to someone that has proven themselves in business before. This is for two reasons...the first being that they want someone that will succeed. Secondly, they want someone with a stash of cash.

                          4. As many here can tell you, this is a BRUTAL business, and getting more so by the day. Unlike days of old, your chances of success are less contingent on your abilities, and more so on outside forces such as third party plans, competition (they don't need to have a storefront anymore), availability of qualified staff, and your ability to attract a source of prescriptions; be it in house, or a referring source.

                          5. I am not joking when I say that I would definitely consider pizza before optical.

                          6. Examine at your motivations for wanting to get into optical. If it's for the money, reconsider. If it's because you enjoy working with glasses and people, get a job at a chain store and see what it's like (if you buy a franchise, that's EXACTLY what it will be like, minus the budget). Talk to some optical store managers/owners.


                          To answer you're main question: NO, I do NOT recommend buying a franchise.

                          Am I against anyone opening an optical? Heck no, I think everyone and their brother should try it (especially if the brother has money!) Just do ALL of your homework, and DON'T rush into it.
                          Ophthalmic Optician, Society to Advance Opticianry

                          Comment


                            #14
                            Get a Chic-Fila. Dey stays busy and don't work on Sunday.

                            Comment


                              #15
                              Originally posted by Fezz View Post
                              Invest in a pizza shop.............much better use of funds!

                              Don't do it unles:

                              *You have all of the money up front = don't do debt!!!!!!
                              *Have at LEAST three years of your current income saved over and above the opening costs to support you through the lean times and the eventual bankruptcy!
                              *Don't do anything until talking with a lawyer and an accountant, and then another lawyer!
                              *You don't enjoy any free time!
                              *Your dating life is even worse than the optical business.
                              *Your liver is in great condition {it won't be after the bankruptcy}!
                              *Open a pizza shop instead!

                              Wrong !

                              Open a french fry stand !!

                              A pizza place requires drivers and cars for delivery and they work late nights and require Credit Cards and many employees.

                              A french fry stand is closed at night, does not require delivery cars and it is an all cash busines with very few employees.

                              A french fry stand has customers lined up and waiting all day in the right location and does not require a brick and mortar plaza .

                              Unlike optics , you will never have to offer a 3 or 4 for 1 deal and you won't have to fill out ridiculous amounts of insurance paper work , there are no doctors redos , no thefts of stock and no crazy useless organisations to join and about nothing in licensing requirements and the internet is not going to bother you .


                              A fellow I went to school with went bankrupt in the opticians business and in desperation he started washing windows . he retired several years ago and consitently made a six digit income with no CE credits required and no pressure and no receivables.

                              Comment

                              Working...
                              X