Andrew Bruce with a group of opticians he is training. Among other critical improvements, you can capture more sales by preparing opticians to deliver a personalized experience to patients.
Optical profitability strategies
By Andrew Bruce, LDO, ABOM, NCLEM, FCLSA
Jan. 2, 2025
In today’s competitive eyecare marketplace, independent practices face unique challenges, particularly when it comes to maintaining and growing profitability through frame inventory.
Unlike larger chains or private equity-owned practices, independent practices must navigate a tighter budget while ensuring that their frame offerings resonate with their patient demographics.
Here are effective strategies, which I tried out successfully myself in an independent practice, to enhance optical profitability by focusing on frame inventory management, pricing strategies and the importance of understanding patient needs.
Offer Diverse Mix of Frame Styles and Price Points
To maximize the profitability of frame board investments, practices should adopt a diverse representation of frame styles.
Offering a mix of “bread and butter” lines alongside premium-branded options can cater to multiple patient demographics.
For example, purchasing quality frames from suppliers like Silver Dollar Optical at wholesale prices of $20-$30, and retailing them for around $150, can yield a 5x markup.
In contrast, premium lines, such as the Silhouette Elegance collection, may only warrant a 2x markup, but the higher dollar sales generated from these frames can significantly boost overall revenue.
Additionally, implementing a “Value Board” with affordable options from suppliers like A&A Optical can attract patients seeking quality alternatives to state insurance offerings.
By pricing value frames competitively—such as single vision CR39 for $99 and standard progressives for $149—practices can capture additional income from patients who desire better options without breaking the bank.
The Right Mix of Frame Lines
While conventional wisdom suggests offering multiple colors and sizes of the same frame, I always chose to prioritize variety.
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Contrary to the recommendations of “frame inventory experts,” my practice offered a wide variety of frames rather than a deep selection of fewer lines.
Our patients appreciated having many choices and a diverse assortment, which enhanced our practice’s reputation. In fact, we were often told, “You have the best selection of frames in the area!”
A practice that carries frames ranging from ultra-conservative to bold and fashion-forward can attract a broader patient base. And limiting the number of vendors to 6-7 main suppliers allows for better negotiation on discounts, further enhancing profitability.
This strategy not only meets patient preferences, but also streamlines vendor interactions, allowing more time for patient care.
Frame Turnover and Reordering Strategies
Generally, a turnover of 2x is recommended for premium frames. However, selling 100 Silhouette frames at an average price of $400 generates substantial income, even if the turnover rate is lower than 2x.
Incorporating technology, such as inventory management systems like Kaleyedoscope from Marchon Eyewear (now a part of VSP Vision) can streamline operations by automatically tracking frame movement and ensuring that best-selling frames are always available. This technology reduces the time spent on reordering and enhances overall efficiency.
Tailoring Frame Selection to Patient Demographics
Independent practices have a distinct advantage in tailoring their frame selection to meet the specific needs of their patient base. Understanding local demographics allows practices to refine their offerings, ensuring that they provide frames that resonate with their patients.
For example, a practice that recognizes a demand for stylish, yet affordable, frames can adjust its inventory, accordingly, maximizing profitability.
Collaborating for Success with Optical Managers & Opticians
Effective collaboration between practice owners and optical managers is vital for ensuring maximum profitability. Trusting an optical manager to make informed purchasing decisions can lead to significant improvements in inventory quality and sales.
How do you find out what your patients want? By listening. Listen to their comments during the frame selection process. Pay attention to comments such as, “I’m looking for a frame like Ted Danson wears on his new TV show.”
Training and Technology for Enhanced Sales
Training opticians on the unique selling points of frame lines can significantly impact sales. You also want to design your optical to encourage greater, and more effective, sharing of information with patients.
For example, I chose to eliminate price tags on premium frames, such as the Silhouette Elegance line, to both avoid sticker-shock and also encourage my opticians to share the brand story, engaging patients in trying on frames.
Prior to implementation, I noticed that some patients were often reluctant to even try on a premium frame, if they saw the price tag, first.
However, after having tried it on and experienced the feel and comfort of a premium frame, and after the optician had the opportunity to share the brand story, the price proved to be less of an obstacle.
Vendor representatives can provide valuable training resources, ensuring that staff are well-versed in their brand stories, as well as the features and benefits of the frames they sell.
Competing with Larger Practices: Personalized Patient Experiences
To compete effectively with private equity-owned practices and optical chains, independent practices must focus on delivering personalized patient experiences.
For example, you can invest in technology like My Frame Gallery or Fittingbox, among other options, that allow patients to browse your optical offerings before they arrive and choose specific frames that they want to see in-person at your office.
Opticians then can prepare ahead of time to show each patient exactly what they said they are interested in seeing.
By prioritizing exceptional patient care and offering high-quality frames and lenses, independent practices can differentiate themselves in a crowded market.
Andrew Bruce, LDO, ABOM, NCLEM, FCLSA, is a 2024 Contact Lens Institute Visionary. He is a licensed master optician and contact lens fitting specialist in Vancouver, Wash., and founder of ASB Opticianry Education Services. To contact him: asbopticianry@gmail.com
