Optical Store Business Plan

[Snitgirl]

Hey Folks,

A friend of mine is wanting to open his own dispensary. Was wondering if any of you kind folks out there could share a copy of a business plan with him. He found a couple of Optical business plan templates on the web but they were basically useless. I would love to help him out as much as I can and I told him that I would start with the top in the field. So here I am.

If you have any information you can offer please e mail them to me so I can forward them to him.

Thanks for your time!

Michelle

[rbaker]

You can not use someone else’s business plan any more than you can use someone else’s driving directions. A business plan must be written from the prospective of the new business and contain information and financials that are unique to the business. The bankers will smell a rat if anything on a business plan or proposal as out of order. They have the resources to verify the business plan. And, most importantly, if your business plan is faulty you are screwing no one but yourself.

Your friend could use someone else’s business plan as a template, just to insure that it is in an acceptable format and that he doesn’t have any omissions. But, the numbers that he put down had yea best be his own and as accurate as possible. Better yet, your friend should have his accountant draw up the business plan.

Good luck with the new venture, Michelle

[Snitgirl]

Your friend could use someone else’s business plan as a template, just to insure that it is in an acceptable format and that he doesn’t have any omissions. But, the numbers that he put down had yea best be his own and as accurate as possible. Better yet, your friend should have his accountant draw up the business plan.

Good luck with the new venture, Michelle

Dick, this template you are speaking of would help him out a great deal. He wouldn't use someone else's numbers, they would be his own. He's not that kind of person.

Also, any suggestions on what sqaure footage a store should be when starting? If he wants to have a glazing facility, what would be the ideal equiptment to purchase? Also suggestions on what would be a good inventory of frames to start with? 300 frames, 500 frames 1,000 frames? Its the little things like this he needs help with as well since he has no prior knowledge and is currently a Dispensing Optician student. I can help him with purchasing pre-exsisting Optical businesses, but that is not what he's going to do so that is why I made the original post.

Any Optical books out there that has this information?

Michelle

[HarryChiling]

Any Optical books out there that has this information?

The NAO has a Optical Management book, it would be a great start.

If he wants to have a glazing facility, what would be the ideal equiptment to purchase?

If he has an accountant this would be the right person to discuss leasing edging equipment vs. buying. Leasing does have it's tax advantages, and usually at the end of the lease you have a purchase option wich might make it all worth while.

Also suggestions on what would be a good inventory of frames to start with? 300 frames, 500 frames 1,000 frames?

Talk to the frame reps in the area, most will help you in starting your venture with considerable discounts and great terms keep in mind that there sucess depends on your business doing well. I would suggest a modest inventory and maybe contacting a buying gbroup to help you to establish accounts and get you great discounts. Also if considering a glazing facility keep in mind that there will be an inventory of lenses, and you must make a decision as to what you are going to keep in stock and what ranges. Again get with a local rep for a lens supplier and see if they have any stock inventory packages and what ranges they would recommend. I generally will do CR-39 from -3.00 to +2.00 up to a -2.00 cyl, and poly from +3.00 to -5.00 up to a -2.00 cyl keep all (+) aspheric and as small a blank size as possible.

[For-Life]

I have a lengthy one. I will see if I can copy the outline down for you.

Basically you want to seperate it into the external and internal conditions. A lot of people just look at what they plan to do, but do not look at what the competition is, what will happen with the industry and what barriers they may face.

[harry a saake]

the first and most important item he needs to know is what his market is that hes going to pursue and is there a market for it where he is planning to dispense, you cant run an optical shop and be all things to all people.
A wise old man once told me cater to the rich, they can spend in good times and bad times.

[jameselex]

I have been always studying the optical retailing business, it is absolutely correct that your friends should figure out what market seg he is going to cater, getting frames and equipments are easier;when you have enough business, you can afford things you need and you want.

If anyone has business plan like to share, please get me a copy, I am less interested in equipments and frame side, more into strategy and promotion. seeing private store doing over 1 million business and others couldn't even survive.

[Johns]

...when you have enough business, you can afford things you need and you want.

.

If your in this for the long haul, there's no such thing as "enough business".


Asking for a business plan of a succesfull business is like asking a team to publish their game plan the day before the game. My business plan is constantly changing to adapt to a number of internal and external influences, and if held up to the plan I wrote 19 years ago, would be almost unrecognizable.

[Snitgirl]

The NAO has a Optical Management book, it would be a great start.

Thank you Harry, I will give him the link to the NAO site.

If he has an accountant this would be the right person to discuss leasing edging equipment vs. buying. Leasing does have it's tax advantages, and usually at the end of the lease you have a purchase option wich might make it all worth while.

Talk to the frame reps in the area, most will help you in starting your venture with considerable discounts and great terms keep in mind that there sucess depends on your business doing well. I would suggest a modest inventory and maybe contacting a buying gbroup to help you to establish accounts and get you great discounts. Also if considering a glazing facility keep in mind that there will be an inventory of lenses, and you must make a decision as to what you are going to keep in stock and what ranges. Again get with a local rep for a lens supplier and see if they have any stock inventory packages and what ranges they would recommend. I generally will do CR-39 from -3.00 to +2.00 up to a -2.00 cyl, and poly from +3.00 to -5.00 up to a -2.00 cyl keep all (+) aspheric and as small a blank size as possible.

Thank you for the information Harry, I will pass this information to him.

good luck on your test again!

[Snitgirl]

I have a lengthy one. I will see if I can copy the outline down for you.

Thanks For Life, I know he will appreciate it. I'm just trying to help a friend out.

Basically you want to seperate it into the external and internal conditions. A lot of people just look at what they plan to do, but do not look at what the competition is, what will happen with the industry and what barriers they may face.

Great, thank you. I am passing all this information to him. I appreciate your response and my e mail address is snitgirl@hotmail.com

[Snitgirl]

the first and most important item he needs to know is what his market is that hes going to pursue and is there a market for it where he is planning to dispense, you cant run an optical shop and be all things to all people.
A wise old man once told me cater to the rich, they can spend in good times and bad times.

Your wise old man is sooooooooo right! :) lol

[rbaker]

If you Google “business plan AND software” you will find far more info than you can ever want. There is a lot of software and templates available. If the business plan is going to your banker or any other outside person you do want the thing to at least look professional and contain all of the information that the intended reader needs to know. You do want to make a good impression, don’t you?

Check your spelling, grammar and sentence structure. If the business plan is half way readable it will stand head and shoulders above the crowd.

[Snitgirl]

Thank You Dick. I passed on the link to this thread and also encouraged him to join Optiboard since he is an Optical student. I hope this information will help him get started on his Optical journey....

Thanks again,
Michelle

[GOS_Queen]

I really like this site:

http://www.businessownersideacafe.com/


:cheers:

[Lee Prewitt]

BizPlan Builder from Jian software www.jian.com is very good. It will walk him through the process including the market research needed to consider to open. My other advice would be to gather some experience first. You said he is an optical student.

[gus.singleton]

Does anyone have an optical lab business plan I can modify for my own practice? I am located in Virginia so it wouldn't be a conflict of interest. I am VA State Licensed and ABO-C. I currently teach opticianry for an accredited school, and have specialized in optical fabrication for 10 years. I will be coming into some money in a few weeks, and have bought everything I need lab-wise except for my lens/frame stock and large equipment (7E edger, & maybe fastgrind surface machine). I will be a small niche lab; starting off with only what I need, until profit and steady process is established. I am starting with my own money, so no loans. All I will have is overhead, in which is already paid for because the lab will be in a room already paid for by my first business's budget. Any help from anyone would be great!