The concept of an optician as a business is based on meeting the need of many people to improve their vision or provide solutions to common problems as a result of ocular deficiencies.
A business whose demand is high and that for this reason has occasionally been saturated with supply. Still install an optician is still an attractive business alternative to consider.
Options range from mounting an individual optic to the possibility of working with a franchise with a recognized brand, in both cases always authorized by government entities and recognized associations of optometrists in each city.
Business Description
We are essentially talking about installing a medium-sized location to provide basic and optionally advanced optometry services. It is estimated that a place of between 50 and 100 square meters may be ideal depending on the demand and the target market to which the business is focused. Consideration should be given to hiring a dependent employee and the business is required to be responsibly supported by a licensed optometrist.
Business Opportunities
The increase in the use of computers, age and aesthetics are some of the factors that make this a constantly growing business. It is estimated that after 40 years everyone needs to wear glasses to improve their vision. And the measurement indexes show us that a high percentage of the population has diminished visual abilities, so sooner or later they will come in search of an optician for their treatment.
Initial Investment
In general terms, furniture, product inventory, local conditioning, promotion and advertising should be considered within the initial investment and legal procedures to register the business as well as the tools and machinery for the operation of the workshop.
Depending on the size of the optician, we are talking about an initial investment of between 25,000 to 50,000 Euros.
Inventory
The initial inventory has to do with the socio-economic level at which we are focusing the business as well as the size of the premises. The stock should be diversified between prescription glasses, contact lenses and sunglasses as well as accessories such as covers, cleaning fluids, etc. To estimate the value of the investment, it must be considered that the price of the rings averages 25 euros. Average that can rise if you work with finer and more expensive brands but this will be the choice of the entrepreneur.
Furniture
Fundamentally, the furniture to equip your optician is summarized in a set of displays for glasses, counters for customer service, equipment for the workshop area and office equipment that includes specialized management software. Of course, the quantity and measurements of the same will depend on the size of the premises, the available budget and the image that we intend to give the business. A medium store could require up to 5 to 10,000 euros.
Recommended equipment: test box, lensmeter, retinoscope, autorefractometer, ketatometer.
Strategic Aspects of Sales
As in any business, it is essential to maintain a good balance between purchases and sales in order to guarantee the stock of the product required by customers at all times. Likewise, it is important to offer both economic options and more luxurious alternatives to please both those who seek only to meet their needs and those who also want something fine and very good taste.
Negotiating with suppliers is essential to be able to maintain the best prices and benefits at all times as well as to be able to access credit options that they will leverage your business and they will allow you to grow. Hence, managing finances and good payment behavior is essential for your providers to provide you with these benefits.
Legalization of an Optician
These documents may vary in each city, however, some procedures and their costs are common and must be considered within the assembly of the business:
- General opening procedures such as commercial and tax registrations
- Registration as a commercial company or individual merchant
- Authorization by the National Optometric entities
- Appointment of the responsible Optometrist
- Registration of contracts with the Ministry of Labor (for dependents)
- Registration with the consumer protection department
- Respective health licenses
Business Threats
Finally, like any company, there will always be internal and external weaknesses. Opticians are no exception and the main threat you will have to face is the numerous competition that tends to wage a price war as their only strategy. A game that should not fall as this is the main reason why many businesses fail. On the contrary, you must compete with quality service and advice among others.
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