Log In / Register

Call us on
0161 929 8389

Promote your Practice to the Premier League

In a World Cup year, a football analogy for your optical practice has never been more relevant. The independent Optical sector is now segemented into 3 distinct divisions.

The Premier League:

Practices benefiting from strong leadership, and an adaptive approach, translating to substantial profitability. A key feature of top tier practices is that the day to day operation is not reliant on the owner, thereby providing an excellent work-life balance for the key stakeholder(s). These practices are highly sought after and carry a premium transfer value.

The 1st Division:

Operations of a reasonable scale, often achieving decent profitability, but at the cost of an over-reliance on the owner.  Subject to location, these practices normally possess a reasonable transfer value, but generally have significant scope for improvement on this and most other key measures.

The 2nd Division:

Characterised by flat or declining sales and patient numbers, poor delegation, an over-reliance on the owner and low profitability. Offering little benefit of ownership, these can also be very hard to sell.

Whichever division you are currently in and whatever yor objectives for the year ahead, with the right guidance, it is always possible to raise your game.

Recognise that the rules of the game are changing

Historically, independent practice owners focusing on clinical excellence and a good rapport with patients could expect to achieve fair financial rewards for their efforts. This is no longer enough. 

The competition is getting stronger and your patients more fickle and demanding. There are many other factors to consider too including:

Update your tactics to avoid empty chair time and maximise profits

Customers are not just satisfied by results anymore, they want to be entertained or at least made to feel special. To achieve even mid-table business performance, it is now necessary to deliver excellence in both the clinical and the retail aspects of practice ownership. 

The new game requires new more sophisticated tactics and a more expansive game plan. For most independent practices, attracting and retaining new customers is a specific area that requires new thinking and new tactics. However before you attempt to tackle this and create a new strategy:

Remember that it is a team game: you can't do it all by yourself

You may be the captain and the star player, but the practice is only as good as its weakest link. Ensure that you communicate and fine-tune your tactics via regular formal training to keep your team sharp and on the ball.

Get the right team behind you 

Premier league practices do not just have the best front of house players, they also seek out and retain the right backroom staff to consult with and guide them on strategy and specialist areas where it is not realistic to expect their front of house team to master.

Harness the power of delegation, outsourcing and up to date customer journey training.  

Whatever your goals and objectives, why not utilise our combined 90+ years of experience in independent optics to help you achieve them?  

Call 0161 929 8389 to talk to one of our Consultants

Article /View All

Business Consultants for Opticians

Myers La Roche is the choice for the optometrists looking to upgrade their online presence, corporate presentations, and marketing materials in an affordable and effective way.

Read More View All