Lenspro: The Benefits of Independent Practice and Corporate Scale

With optical stores in Queensland, New South Wales and Victoria, and more openings planned in other states this year, LensPro's Joint Venture Partnership integrates the benefits of an independent and a corporate.

Passionate about Optometry and Dispensing

All LensPro practices are Joint Venture partnerships with ambitious optometrists or dispensers, who are passionate about excellence in eye care and dispensing quality glasses at a fair price. The LensPro Joint Venture combines the advantages of an independent (personalised service, ownership interest, continuity of practitioner, ability to act local), with the benefits of a corporate (branding, buying terms, operational expertise, other benefits of scale), without the disadvantages associated with either.

"Partner with optical franchisors which are wholly oriented to supporting franchisee stores; LensPro is one of only two such companies in Australia. Ensure you have true ownership and profit entitlement. Avoid arrangements which terminate after a number of years or where you would be competing with other brands or stores owned by the franchisor."

 Practice Opening

Every LensPro store has a modern optical lab, enabling its dispensers to provide excellent service and practice to the full extent of their expertise. Having researched the location and negotiated a suitable retail premises, LensPro manages the company formation, funding, design, construction and equipping of the practice, staff recruitment and training, and sourcing of frames and lenses.

Each practice is a separate company, which is independently owned by an experienced optometrist and/or dispenser, in partnership with LensPro. Partners receive a salary, as well as all the profit of the business and value of their shares when they choose to sell. LensPro receives a management fee for the support services it provides.

Marketing

After initial launch marketing, LensPro manages local and group TV advertising, promotions and PR, and is innovative in responding to changing competitive environments and local opportunities.

Accounts and Administration

LensPro provides detailed monthly management information and guidance to enable you to make the right business decisions. The LensPro Support Centre administers supplier payments, accounts, GST returns, payroll, company secretariat, property services, etc.

Purchasing

Frames and lenses are sourced at significantly lower costs than most other providers. LensPro partners are free to use any brand or type of lens, while frame selection is also a matter of personal choice.

Operations, Training and IT

The LensPro Support Team has significant optical experience and is always on hand to assist partners with specific issues and to grow practice sales and profitability. Ongoing recruitment and training services are also available and Optomate is used in all stores.

Self-Starter

A cash investment of approximately AUD$15,000 is required to own a LensPro practice. Opportunities also exist for optometrists and optical dispensers to be employed with LensPro as a route to ownership.

LensPro is a financially conservative business. Being local, LensPro understands population density is lower in Australia than other markets. For this reason, LensPro business plans are realistic, with emphasis on profitability as well as sales.

Q. Can I achieve a good life balance with LensPro?

A. Yes. With LensPro supporting your practice, you have more time to focus on your patients during work hours, and your family and interests in your leisure time. LensPro enables you to own your own business without losing your evenings or weekends to paperwork.

Q. Does LensPro support existing practices?

A. LensPro primarily opens new practices. Enquires are also welcome from existing practice owners who are considering options for the future of their practice.

Why LensPro?

Partnering with LensPro overcomes the limitations of being employed and avoids the risks and isolation associated with running an independent practice. As well as a great salary, 100 per cent profit and the value of your shares when you choose to sell, there are many non- financial rewards of practice ownership. These include leading your own team, growing your own patient base, and the satisfaction of working for yourself.

The Next Step

LensPro is looking to partner with likeminded optometrist and dispenser partners across Australia. LensPro welcomes all enquiries, which are treated in confidence and without obligation.

To find out more contact Peter Haggitt on (AUS) 0404 883 320, Peter Varley (AUS) 0417 375 773, Berners Hall- Matthews (AUS) 0424 169 680 or email: partnership@lenspro.com.au