Are you cut out for independent optometry?
Eyecare Plus membership is open to non-optometrists.
Image: Eyecare Plus.
An optometry qualification isn't necessarily the only ticket towards independent practice ownership, which can be configured in many ways regardless of job title.
I ndependent optometry practice isn't for everyone, but it also isn't limited to a certain 'type' either.
The Type A optometrist, perhaps, is the first stereotype that springs to mind.
Young mums, orthoptists, optical dispensers and even more mature practitioners have all taken the plunge into independent ownership within the Eyecare Plus network in recent times - bringing their own flavour of primary eyecare through various ownership structures.
Diversity across the network of 120 businesses is one of the hallmarks of Eyecare Plus.
It's something high performance manager Ms Yvette Safier says the organisation is proud of and brings value to members.
"At our recent meetings it has been great to hear the views of both young and more mature members - they can learn a lot from each other," she says.
"Younger members are often better at social media and digital advertising, are happy to give things a try and have a lot of energy. Our more mature members have experience under their belt, they have done the hard yards and recognise where to divert their energy."
The Eyecare Plus group has some clear distinctions.
For example, members can opt to align their practice brand under the Eyecare Plus banner to leverage national and sophisticated marketing campaigns, or they can co-brand to also benefit from this.
Others choose to maintain their own brand identity.
It operates under a protected territories model so practices aren't competing in the same communities, promoting collegiality.
Members have complete independence and can opt into any initiatives by head office, and have autonomy over their product mix.
But another key feature is that membership, and therefore ownership, is open to non-optometrists.
"And we have some members who are optical dispensers, as well as some partnerships between optometrists and optical dispensers," Safieradds.
Beyond job titles, Safier notes there are some common mental barriers that hold people back from diving into independent ownership.
The big one is that it's easier to work for someone else with a guaranteed salary each week than it is to buy a practice.
"However, it is not as rewarding," she says.
"If you don't have a lot of money and you purchase an established but small practice as your first practice, it may not be shiny and new but over time you can build it up, renovate or move down the road."
Mr Nathan Tsalkos, who has changed the fortunes of Eyecare Plus Heidelberg (next page), is a case in point.
"Owning a practice will mean that you have to put in the hard yards to get it established - it won't be a 9 to 5 job - but the effort you put in during the early years will pay off later when you can take a day off or hire a secondoptometrist," Safier says.
She has some thought-provoking advice on proven methods to enter independent ownership.
Buying a business first and a house later is one pearl.
"If you build your business then you will be able to buy a house. Be prepared to move out of the metro areas where there is more opportunity. There are small practices for sale that you can build if you put the effort in. "While in the growing phase, you could do some locum work for extra money.
Eyecare Plus can assist you to market your practice to grow.
" Being able to offer tailored solutions for each patient is a major advantage - and is where the highest performing independents succeed. "If you have a passion for dry eye, myopia control, orthokeratology, children's vision, contact lenses, or any other specialty, then you can make this a focus of your practice to differentiate yourself.
If you are passionate about what you do and you do it well, you will find that referrals will grow without even trying," Safier adds. For those with the commitment and savviness for independent optometry, Eyecare Plus can help locate a practice to purchase. There are several options on the table other than straight-out ownership. Aspiring owners can work in a practice with the option of buying-in if the owner is looking for a succession plan. "As well as assistance that national office staff can provide, our members are happy to give advice from experience.
Due to our territory protection, our members always share ideas freely at meetings and conferences, which is a huge advantage of Eyecare Plus membership," Safier says. From independents themselves Long-time mentor becomes business partner An optometry qualification isn't necessarily the only ticket towards independent practice ownership, which can be configured in many ways regardless of job title. I ndependent optometry practice isn't for everyone, but it also isn't limited to a certain 'type' either. The Type A optometrist, perhaps, is the first stereotype that springs to mind. Young mums, orthoptists, optical dispensers and even more mature practitioners have all taken the plunge into independent ownership within the Eyecare Plus network in recent times - bringing their own flavour of primary eyecare through various ownership structures. Diversity across the network of 120 businesses is one of the hallmarks of Eyecare Plus. It's something high performance manager Ms Yvette Safier says the organisation is proud of and brings value to members. "At our recent meetings it has been great to hear the views of both young and more mature members - they can learn a lot from each other," she says. "Younger members are often better at social media and digital advertising, are happy to give things a try and have a lot of energy.
Our more mature members have experience under their belt, they have done the hard yards and recognise where to divert their energy.
"Image: Eyecare Plus. The Eyecare Plus group has some clear distinctions. For example, members can opt to align their practice brand under the Eyecare Plus banner to leverage national and sophisticated marketing campaigns, or they can co-brand to also benefit from this. Others choose to maintain their own brand identity. It operates under a protected territories model so practices aren't competing in the same communities, promoting collegiality. Members have complete independence and can opt into any initiatives by head office, and have autonomy over their product mix. But another key feature is that membership, and therefore ownership, is open to non-optometrists. "And we have some members who are optical dispensers, as well as some partnerships between optometrists and optical dispensers," Safieradds. Beyond job titles, Safier notes there are some common mental barriers that hold people back from diving into independent ownership. The big one is that it's easier to work for someone else with a guaranteed salary each week than it is to buy a practice. "However, it is not as rewarding," she says. "If you don't have a lot of money and you purchase an established but small practice as your first practice, it may not be shiny and new but over time you can build it up, renovate or move down the road.
" Mr Nathan Tsalkos, who has changed the fortunes of Eyecare Plus Heidelberg (next page), is a case in point. "Owning a practice will mean that you have to put in the hard yards to get it established - it won't be a 9 to 5 job - but the effort you put in during the early years will pay off later when you can take a day off or hire a secondoptometrist," Safier says. She has some thought-provoking advice on proven methods to enter independent ownership. Buying a business first and a house later is one pearl. "If you build your business then you will be able to buy a house.
Be prepared to move out of the metro areas where there is more opportunity.
There are small practices for sale that you can build if you put the effort in.
"While in the growing phase, you could do some locum work for extra money. Eyecare Plus can assist you to market your practice to grow."
Being able to offer tailored solutions for each patient is a major advantage - and is where the highest performing independents succeed.
"If you have a passion for dry eye, myopia control, orthokeratology, children's vision, contact lenses, or any other specialty, then you can make this a focus of your practice to differentiate yourself. If you are passionate about what you do and you do it well, you will find that referrals will grow without even trying," Safier adds.
For those with the commitment and savviness for independent optometry, Eyecare Plus can help locate a practice to purchase.
There are several options on the table other than straight-out ownership.
Aspiring owners can work in a practice with the option of buying-in if the owner is looking for a succession plan.
"As well as assistance that national office staff can provide, our members are happy to give advice from experience. Due to our territory protection, our members always share ideas freely at meetings and conferences, which is a huge advantage of Eyecare Plus membership," Safier says.
From independents themselves Long-time mentor becomes business partnerJonathan McCorriston (left) and Michael Hare.
Image: Eyecare Plus.
Mr Jonathan McCorriston recently became a co-owner of Eyecare Plus Optometrists Southport, Benowa, and Burleigh, partnering with long-time mentor Mr Michael Hare .
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