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FYI: Conversion rate is the percentage of patients who go for an eye exam, that end up buying glasses. Optometrists who do eye exams at Hakim have pressure put on them to meet certain conversion rates. For ODs who comply, that pressure is necessarily passed onto the patient to buy glasses from the store.
It's difficult to lay the blame on any particular employee or doctor. You said it: the location was bad.
Middle management gonna middle manage. They are robots.
The overall point is that large businesses with multiple locations win some, and they lose some, and they're aware of that fact and accept it.
I'm not sure they accept it. They are the ones putting the onus on middle management to get the underperforming stores in line. Like you said, they are robots. They are just following orders.
Hakim sales people are compensated on commission. Doesn't lead to particularly high morale, and neither does putting the blame on the staff/OD for underperforming stores that management should never have approved - thereby putting the responsibility to fix their poor decision, as well as the blame if it isn't fixed, on the rank/file ODs/opticians who agree to work at those error-stores.
It's the culture, and it's a toxic one.
Locations like that get a reputation in the community........
They also get a reputation within the Optical community to stay away.....far far away. Then its difficult for them to get quality help and then the walls begin to fold in on themselves.
A big outfit has its "process" by which it identifies a market opening and sometimes they fall flat. Obviously they're going to sink a little effort to rescue the "miss" before deciding it's too big a drain on the bottom line and pulling the plug. Everyone is expendable in this quest.
It’s always amazed me the lack of figuring, both independent and corporate, ( mostly independent ), in putting more thought into location to open. Who hasn’t heard the phrase, “ location, location, location” ? It’s a phase because it’s the bedrock of B&M businesses. Many times, cost of sq. Ft. Are prime drivers, and they shouldn’t be. They should be figured on what type of client you wish to cater to and how you plan to market yourself to them.
It’s very doubtful you can build a 1M $ location on a backroad, business park location, relying on location zip code to drive ins. Patients to your practice, because that will be about your only source of patients. ( Oh, unless you give some kind of spectacular experience/products not offered elsewhere).
That's really good insight, 24.
I know of a practice (a very big and successful one) that opened another office with the exact strategy you mention! Office park, juicy zip code, all vision care oriented. I really don't know how they've done at that location, but it's a brilliant idea, on paper.
This practice is all about the money, though, and will use every method to get it. I kind of admire them and revile them at the same time.
Is this the same Hakim optical which has been buying up most of the independent stores in the UK? I assume so?
These guys? No idea, but if it wasn't, that would be a big coincidence.
https://www.hakimgroup.co.uk/
Sales representatives at Hakim are paid on commissionsif you visit website. Doesn't promote especially high high self esteem, and neither does blaming the staff or OD for poorly performing stores that leadership wasn't supposed to have accepted placing the burden of fixing their poor judgement on the rank-and-file ODs/opticians who consent to working at those error-stores along with the blame if it isn't fixed.
A high-end location of theirs at Bay/Bloor has been re-possessed by the landlord because of their failure to pay rent.
https://www.blogto.com/fashion_style...oronto-closed/
"Further, due to the termination of the Lease the outstanding balance of the First Deferred Amount (as defined in the lease amending agreement dated effective April 1, 2020) is now due and payable in full."
April Fool's. Do you notice a theme here?
2020. The store didn't even last 3 years. I wonder which OD got blamed for this failure?
I think this mistake is not just anyone's fault, but let's share it with each other to changeQuote:
Originally Posted by optio