Going out on my own

[Boldt]

So I'm thinking about opening my own shop or Doing a consulting firm, and was wondering if anyone has any advice.
The Shop is at least 2 years out with a year of planning to go. I'd be high middle end frames with possible higher end later.
The consulting I've had reps ask why I don't do that my self and I realized it would be interesting. Lower overhead by far, less stable, but could be more profitable.
I'm still tossing the ideas, but would love to hear from everyone who has done these and any ideas.
Thanks guys in advance!

[CME4SPECS]

I would suggest that if you are going to open a shop, establish yourself as high end from day one. It would be much harder to try to change your identity down the road.

[wmcdonald]

What makes you stand out? I ask that to make you consider your options fully. A consultant must bring specific expertise to the table, and you must be able to market that expertise to a specific target market. What are your educational credentials, for example? Experience? Any number of things that would make you stand out in a specific area. I wish you good luck, and if I can assist in any way, please let me know. I have been a consultant for a number of organizations, and on my own over a long period, and you are correct........it is not stable, but if you get established you have excellent potential.

[Boldt]

Wmchdonald thank you! I'll have to take you up on it. I told a couple reps and they keep asking me when and if I have cards yet. lol
On the consulting I've got 18 years in a retail setting, 8 years in the industry, and almost 5 in a corporate environment seeing how and why things are done. ( I lucked out and had an amazing Store manager) I'm working on my understanding of lenses and what is good for what, but I've found that most of the Doctors I've worked for or met don't keep up and just rely on the Reps to tell them what's good. (usually the most expensive over priced lenses) And frames are almost the same.
I guess I'd have to say a good business sense, product knowledge, and ability to train others not just on what to sell, but why it's good. Also how to think critically about product, something I've seen to be lacking. I've managed to bring profits up ever where I've worked by a good bit.
lol Sorry don't mean to do the interview thing here. But, its something I'm finding I enjoy and am good at.

[wmcdonald]

Not sure about your "work on understanding lenses." You need to find an area where you are an expert and focus on that, and then figure out if you can make it in that arena. Most Opticians have little to no education whatsoever, but in this case it will be necessary. In my consulting work, we do a thorough analysis of the financials, which demands far more than business sense. Product knowledge is good, but you can get that from frame facts, can't you. Think deeper here. What can you really offer beyond 1000 other guys to make your services valuable.

You do hit on one solid thing.........critical review of products. Often frames are selected haphazardly and your insights may be helpful.

Do not take my comments as negative here.......only food for thought. I am sure you have god things to share, but if you are going to make a living in consulting, you need to know what value you bring to the table. It does not sound like you really know. And to the doctors.......most could not care less about lenses, and want to do medical stuff. Be the expert and really improve their bottom line and you may be able to make a living.

Good luck!

[Boldt]

Right now I'm taking it slow, I'd rather take a few years to build my name up and see where I can improve. I'm doing the online business Moocs from some of the top schools that offer them so from there I'll have a solid understanding of how the business works.
As far as lens understanding I guess I mean I want a more solid understanding of how all progressives and Digital/Free Form single vision lenses work so I can explain to a client what the lens is good for and not good for.
I'm working with one doctor already to see if I like it and how it goes, and I'm finding more and more things that I would have never thought of if I was not doing this. I've broken down his day to day costs, profits on his products, and I'm about to start a manual on how to train new people there.

I'm still thinking on what sets me apart form others. I know in a retail setting I'm top seller and all but one of the people I've trained at lenscrafters have become management or top sellers or lab techs for their store or even the region. So going from there I can offer training beyond just how to sell. At each place I've worked that's not corporate I've improved how profitable the store is through long term fixes and training.
Looking at this would it be more fair to say that I'd be more the training part of it on how to keep growing the business and how to train the staff?

I was also thinking that I could offer temp staffing options once I'm more established such as lab work, fill in sales, inventory, that kind of thing.

Am I shooting to broad or on to something here?

And don't worry not taking anything negative this helps me see thinks I may have missed and fix them. :^)

[wmcdonald]

The temp idea is solid, but be sure to charge an appropriate fee. Look at how Nursing, for example, charges for temp staff, and if you can prove yourself, you have a good path there. Sales is important, so build on that experience. Most Opticians have very little understanding of the optics involved in lenses, and often trouble shooting is little more than "try it for a few days, and it will get better." Know your optics.........

I like your work with one practice, and that should speak volumes to you. Good luck!

[sharpstick777]

Consulting is tough, the market is in my opinion slightly saturated right now. To be successful as a consultant, you need a lot of contacts and sterling reputation that proceeds you. If your not an OD the best way to do that is become a prolific writer to the optical magazines. You need to be at the point where you walk into an OD conference, and 10 people you have not met know who you are immediately. Many consultants spend most of their time prospecting, so your sales ability will be tested brutally. I know most of the consultants, and its a tough tiring job, where they spend half their life at airports, the other half wondering why the client didn't follow the plan, but is angry nothing is working.

[rbaker]

One of the first thing that I would inquire of a prospective consultant are his credentials and his track record. I will dig deeply into your background and references from your former clients. In addition to knowing your cookies as an optician you had better have a good background in accounting and expertise in the regulatory issues that effect businesses in your area. Connections with financial institutions will also help.

It seems that everyone who is out of work calls themselves a consultant.

[Boldt]

Wmcdonald: Thank you for the tips, you have me going back and looking at the whole set up I have for the consulting ideas. And gave me a bit more to digest. :^)

Sharpstick: I've seen that also I'm going to try the slow steady path. I'm still working and doing the consulting as a side business that I plan to grow over time. So far I'm getting great reviews with my first client and my lab and frame reps have asked fro my cards to distribute, so I'm hoping this way is good. At the very least it's safe. lol

Rbaker:I'm working on the accounting, I have an old coworker who has a bachelors in accounting that is more than on board. So that area should be covered. I'm also doing the moocs to learn more about accounting and business management.

[Boldt]

Also does anyone have any tips on a B&M store?
I have the lines I want down, the lenses, labs, and suppliers are taken care of also. Now it's securing funds, building a strong plan and finding a doctor.
again this is a 2-3 year plan, but I know I have a bit to learn also.