What you need to know to start an optician franchise

If you're looking for business opportunities, you may want to consider the optical industry. There are plenty of profitable companies within the sector, so we’ll take a closer look at the industry and why opening an opticians is an excellent investment.

The eyecare sector

Optician businesses are responsible for fitting and selling glasses and lenses, carrying out eye tests and stocking eye care products and accessories. In recent years, the sector has been shaken up by the arrival of eyecare services in major supermarket chains such as Tesco and Asda. However, traditional opticians still hold the advantage and can boast of greater consumer trust in their services.

Currently, the optical services market is worth an estimated £4.4 billion and it grows by 1.5 percent every year. It employs just over 62,000 people and consists of approximately 4,500 businesses. The biggest players in the market include Specsavers, Vision Express, Boots and Leightons.

While franchising is common in the industry, a large number of opticians still operate single stores or small chains. This means that there's plenty of opportunity for entrepreneurially minded individuals to work within the franchise model and use the franchise support system to grow their business.

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• See The Future Clearly With A Boots Opticians Franchise.

Advantages of starting an optician franchise

• It’s a well-known fact that the UK has an ageing population – and that the likelihood of needing glasses increases with age. As the over-65 age category becomes bigger and bigger, the number of people needing eyecare services will increase. This means the opticians industry has great potential for entrepreneurs who want to make the most of a blossoming market. By creating a solid business, you can ensure you have a large pool of potential customers as you develop your venture over the years.
• Optician businesses are recession-proof. Glasses and contact lenses are a necessity for the people who use them, not a luxury. Often, it’s not just a case of keeping the glasses you’ve already got; eyesight deteriorates over time, so many people need to get a new pair regularly. As a result, you can be fairly sure that your customers won’t stop visiting your branch during times of economic uncertainty. So, while businesses around you might flounder, you’ll be able to keep offering your services, keep paying your staff and keep reaching your targets.
• Just as you’ll avoid being affected by recessions, you’ll also avoid the impact of industry trends. While food, clothing and fitness businesses, for example, may suffer when the trends they rely on pass by, you will stay up and running. Eyecare will always be in demand, so your business will have the potential to stay profitable in the long term. Of course, you can always adapt your choice of glasses frames to reflect current trends so that your more fashionable customers can find their ideal pair. However, you should always make sure you stock a good range of standard frames in a variety of styles, so you’re not limiting yourself to a small pool of customers.
• One of the best advantages of starting an optician business is knowing that you are helping people in your local community. Eyesight is a huge part of how we live our day-to-day lives, so being able to make sure others have the products they need to see perfectly can be extremely rewarding. But, as a high-street optician business, you won’t just help your customers by improving their ability to see. Many of your visitors will be elderly, and a trip to your premises may be the only chance they get to socialise in their week. So, not only will you provide them with a high-quality product, you’ll also brighten their day.

What it takes to succeed – a few tips and tricks

• Modern opticians need to work hard if they’re to succeed in such a competitive market. Above all else, they’ll need a highly skilled team of employees who are hardworking and committed to business growth. They should be proficient in handling all of the technical processes involved in optometry, and have a good knowledge of industry competitors.
• Employees should also understand the value of customer service, as it’s the combination of a high-quality product and great service that keeps customers coming back. Although people will enter your store in order to purchase something they need rather than something they want, there’s no harm in being friendly and approachable to make the whole process easier and less stressful.
• Opticians also need to ensure that they are situated close to key markets that contain the correct demographic. For opticians, a large percentage of business comes from older customers. Consequently, optical franchisees need to ensure that they position their company in a location that benefits from a sizeable over-65 population. This means you should do a significant amount of market research before you choose your location. Not only should you opt to open your business in a region with a significant elderly population, but also in a premises near a car park and on various bus routes.
• With the large supermarket chains attempting to capture a larger and larger market share, franchises need to ensure that they’re able to offer affordable products and frequent discounts. This would be hard for independent start-ups, but the franchising system allows individual units to do this by increasing their purchasing power through bulk buying. This means that opticians need to develop strong relationships with suppliers to offer a competitively priced service.

Opticians in London

There are a large number of franchise opportunities in London. However, the market has not yet reached saturation point, and there are many opportunities to take advantage of. Prospective franchisees have three options to consider when trying to launch their own business venture. Firstly, they can buy an existing franchise. Secondly, they can open a brand-new franchise in an appropriate location. Finally, they could convert an existing business into a franchised opticians outlet.

For opticians, London is an ideal market. It boasts a large and diverse population that will actively search for affordable, high-quality services and typically trust in major brands. This makes both Boots and Leightons an intelligent choice when it comes to finding optician jobs in London or starting a franchise unit there.

Leightons

Leightons is one of the leading optical franchises in London and an excellent investment opportunity. The original business was founded in 1928, but it wasn't until 1997 that it adopted the franchise model and began to expand its network of opticians across the UK. The franchise now encompasses 34 franchise units across the south of England, with a high percentage of those situated in London. This long history has given the Leightons family an enormous amount of experience and expertise, all of which it's happy to pass down to franchisees.

To become a Leightons franchisee, you'll need to raise an investment of approximately £135,000. This includes the £20,000 franchise fee, as well as other start-up costs. The business offers franchisees three different types of ownership: traditional franchise ownership, a joint venture model and shared ownership. Because there are different types of ownership, investment costs will vary. Consequently, you should discuss the matter with the franchisor before moving ahead with the application process.

In return for your investment, you’ll get the chance to enrol onto a comprehensive training programme that covers all the essential processes involved in day-to-day operations. These include sales, marketing and employee techniques, amongst other things. All new branches are advertised extensively before their launch and franchisees will receive ongoing support from the franchisor.

Boots Opticians

Boots is one of the most recognisable brands in the country and the largest retail optical franchise in the UK. This gives it several advantages over competitors. Founded by John Boot in 1849, the Nottingham-based business grew slowly over the next century. By 1984, it had reached Peterborough, Leeds, Luton and Derby, and the business was bought out in 1987. Over the next three decades, Boots would expand across the country and become one of the country's best-loved brands. It operates throughout London and the UK, and continues to look for new franchisees.

To become a Boots Opticians franchisee, you'll need to raise around £200,000. The franchise fee is set at £10,000 and is valid for a franchise term of 20 years. For the shop fitting, franchisees can expect to pay between £160,000 and £200,000, depending on the location and size of the store.

In return, franchisees will receive help with drafting their business plan, acquiring a property, fitting the shop and selecting products. All franchisees are provided with intensive training and receive the support of the experienced franchisor team throughout the set-up process.

Start your optician business

Both Boots and Leightons are exciting propositions. They represent the best franchising opportunities and are by far the most successful opticians in London. If you're interested in the industry and are considering opening an optician business, they're the best place to begin your search.