Are optical practices profitable for me to leave my $50,000 salary job?

[nyc_optician]

I have my optician license but stopped working at optical stores for about 5 years.

Thinking if I should go back to becoming an optician and work my way up and re-learn my skills and new skills/technologies or how the business operates and then open my very own optical practice with my friends that are opticians also.

I currently have a $50,000 per year job (accounts payable/billing) with 40 vacation days but if I leave and start from scratch again I will probably make ($40k) $18/hour 9.5 hours a day and 5 days a week with no vacation days until 1 year later, and that is only 1 week vacations if using my old company's policy. Not sure how it works with other optical practices.

But back to the question, are optical practices profitable enough for me to jump the ship?

I mean...with my current job now, there are not much future to it as anyone can do it without a college degree and 10-20 years later who knows if technology will replace us but technology cannot replace a real human dispensing.

For owners out there, how much profits at the end of the year do you actually put in your pocket? Range is fine...50k-70k or 100k-150k or 200k+?

[curtains1]

Running a business is really tough and there is a lot to factor in.
You say you won't be able to take a vacation until one year later. It is not that simple. Even when you are on 'vacation' you have to be prepared to drop everything. You take a risk in operating your own business. There is more to learn than just opticianary, you need to have a sense for business. What is your marketing plan? You may have the opportunity to make more money, but are you prepared to work overtime when you have staff issues? and I say when because I guarantee at some point you will. You have to be organized, aggressive, have a thick skin, and be prepared to work your tail off.

[m0002a]

1. In 10-20 years there may be changes in the optical business, probably more changes than the job you are in. There have been a lot of discussions about the future of online and/or automated dispensing in this forum.
2. To open an optical shop (or any business) requires a capital investment and working capital for some period of time before the company becomes profitable (assuming that it ever does).
3. If you are concerned about advancement in your current job, you might consider what would be needed (additional education, etc) to advance to higher level jobs in your current profession.
4. I would only recommend opening a shop (of any kind) if you are passionate about the business, and would really enjoy working at it a lot more than your current job, because you will be working more hours than at your current job.

[Java99]

They can be profitable enough to be worth it. But if you're considering vacation time and hiring your friends, I would suggest against it.

[Johns]

Keep your job, squirrel away as much money as you can, and invest in a business that CAN'T be replaced (completely) by technology, like a hot dog cart, or window washing. If I had to start over, right now, I would do the window washing route.

Think about it...charge $10 per store front to wash the two, maybe three large windows in the front of the business. It takes you less than 5 minutes. You wash half the windows in a plaza, say around 5 or 6, and you've got $50-60 and you've worked less than 40 minutes. Now do 5 more plazas and go home and have a beer,

Working less than 8 hours per day, you can make around $100K per year. How do I know? One of my best friends does this, only he makes much more that $100k and because he's got 5 trucks on routes doing it, he no longer washes any windows.

It's a big world out there. Don't do something just because that's what you know.

[EyeManFla]

I've been in the business now 39 years. I have owned my own places and run opticals for others. Owning your own store is just like marriage...without the benefits! Its 24/7. Forget days off for the first 5 years. Make sure NOBODY knows your private telephone number or where you LIVE!

Having said that, as an optician...there is nothing better than having your name on the door and and being answerable to no one...except your family, the state Board of Opticians...the IRS..........

[jrumbaug]

I'll trade you jobs.

[optician2601]

I dropped by full time job and opened up an optical shop with my business partner. I gathered everything I learned from the private office, and started our business from scratch. You must be ready for the commitment, understand the profit margins, and get creative with marketing.
Its been 6 months since we've opened. Its been stressful, but we love the challenge. Our numbers at not great, but its not bad either. I predict we will be positive in the next 6 months. Just like EyemanFla said, having your own business is like marriage. The best part is you dont have to answer anybody, you make all the decisions, and create a business model that you believe in.
I love running an optical dispensary. Now I am still on the fence whether to pursue optometry school or not. That is the missing puzzle.

[David F]

. The best part is you dont have to answer anybody, .

Well almost true... you have to answer to every month:
The tax man
rent man
utilities man
lab man
frame man
and so on

Owned a dispensary for 20 years, some great years some not so great, Happy now working for an industry giant,, much less stress.

[Chris Ryser]

Keep your job, squirrel away as much money as you can, and invest in a business that CAN'T be replaced (completely) by technology, like a hot dog cart, or window washing. If I had to start over, right now, I would do the window washing route.


It's a big world out there. Don't do something just because that's what you know.

That was the most perfect answer ob this thread so far. When I learned and started in this business it was a master craft and I went through the learning mill.

Today it is more and more being changed to mass production at lower prices and probably rated at a lower end quality level than the professional can supply.

[dadoody]

You have to do what you love. The money factor is a terrible reason to do anything.

One example is a friend of mine from college. He was a natural born salesman and was always good at convincing people to buy products or services that he had good experiences with. Well, he graduated with a technology related degree, and tried to make a career out of it, but fell flat on his face. Eventually became unemployed. In a mix of desperation and boredom, he starts selling products on Amazon. He somehow became the #1 seller of his product category's niche, and currently makes over $100,000 per month in sales with 40% of that as his net income.

I have a similar story with an ex-house mate of mine who also left an IT job that was paying him $60k per year, and now owns a multimillion dollar clothing company.