Never Too Busy to Be Curious
Everyone is busy. But are we all busy with the right things? I’ve spoken with many colleagues who say they are “extremely busy.” However, after delving into what they’re busy with, I’ve come to realize that their busyness is an addition problem that really should be a multiplication problem. Multiplying our efforts is essential for […]
Maximize Lens Choice to Elevate Optical Profitability
The Impact of Vision Care Plans on Practice Revenue In the current optometry market, the proliferation of vision care plans represents a significant share of our patient demographic. This shift places greater emphasis on the strategic selection of lenses in your optical to ensure financial health. As inflation drives up overhead costs, managed vision care […]
Maximizing Your PiP Membership to Slash Shipping Costs
As a valued member of the Partners in Profit (PiP) community, you’re already ahead of the curve in revolutionizing your practice’s operations and profitability. But are you leveraging every facet of your membership to its fullest potential, especially when it comes to minimizing shipping costs? The Consignment Model Advantage: Transitioning from traditional frame buying to […]
Overcoming One of Owner ODs’ Biggest Barriers to Increasing Their Practice’s Net Income
Overcoming One of Owner ODs’ Biggest Barriers to Increasing Their Practice’s Net Income “It’s how we’ve always done it.” “That feels like it’s going to take a lot of time.” “My staff aren’t going to like it.” The Dual Role of the OD Owner Private practice owner ODs carry a heavy load, constantly balancing the […]
PiP Frame Strategy: Balancing Profitability and Signature Style while ‘Only pay for what you need’
Like Liberty Mutual says in their commercial “Only pay for what you need.” PiP has applied that strategy to managing your frame inventory. In the ever-evolving world of eyewear fashion, finding the perfect balance between a recognizable name brand and stylish yet profitable options is key. This delicate equilibrium is beautifully exemplified by the trend-setting […]
Maximizing Profitability Strategies for Optical Practices
Introduction: The optical industry is currently navigating through one of its most challenging periods, with independent optometrists feeling the pressure of decreasing insurance reimbursements and increasing overhead costs. In this critical time, finding strategies to remain profitable is paramount. Partners in Profit is here to guide you through. Strategies for Enhanced Profitability for Optical Practices: […]
70 pairs sold: An optical success story
In one month, our optical department sold 70 pairs of glasses to cash-paying customers. This success story isn’t a fairy tale, it’s fact. Like a lot of small optometric offices, we believed we couldn’t make much of a profit on optical. We assumed that most patients who have managed vision plans would shop around and […]
Frame Board Management: A New Normal
The optical industry flourishes because it dictates the rules of how frames are sold. Opticians purchase large inventories of product and hope to sell it. If the product does not sell, then it is returned for other product. This method greatly favors the eyeglass vendor. The optical owner, whether optometrist or optician, bears the risk […]
Innovation Fueling 18% COGS
Innovators love ideas and innovative optometrist love metrics, especially metrics that prove creative endeavors rewarding. One doctor, a fellow member of Partners In Profit (PIP), recently said: “I looked at our numbers and I was shocked. Our COGS were at 18%. 18%! We’ve never seen those kinds of numbers.” Those kinds of numbers are only possible […]
What to Look for in a Private Label for Your Optical
In the realm of optometry, innovation and cost-effectiveness are pivotal to staying ahead in a competitive market. Large retail companies have long harnessed the power of private labels to achieve this balance. Names like Walmart, Best Buy, and Amazon come to mind, with their successful private label products like Equate, Insignia, and a myriad of […]
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