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 […]
Revolutionizing Optometry Practices: Increase Your Cash Flow with Consignment Frames
The Traditional Challenge with Managing Frame InventoryA New Approach: Consignment of FramesHow Consignment WorksThe Benefits UnveiledConclusion Introduction:In the competitive world of optometry, managing cash flow effectively is paramount. One often overlooked area with significant potential for financial improvement is frame inventory management. Let’s explore a transformative approach that is reshaping how optometrists manage their frame […]
New Profit Opportunities with Partners in Profit
Private Label Excellence Embracing Technology with a Virtual Assistant Efficient Shipping Solutions Innovate and Profit with Us! Join the ranks of thriving optometry practices. Learn more about our innovative frame and lens modeling program by speaking with one of our dedicated team members.
Investment Update, Fourth Quarter 2018
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Cutting Your Restaurant’s Operations Costs
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