Unlocking the Secrets of the $Million Practice

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NEW YORK—A million dollars. Sure, it’s not as much money as it used to be, but it is still an impressive figure, particularly for an independent optical business to generate in a year.

Especially, when you consider that the average estimated annual retail sales, including exams, for a single location is $720k, according to Jobson Optical Research’s Census database, January 2014 update.

So how does one buck the average? That’s what Vision Monday wanted to know. So we reached out to four independent practices in various parts of the country to let us in on their secrets to pulling in seven figures in a single location. And we’re sharing those secrets with you.

It should be noted, that the number one similarity in these practices, regardless of location, was a staunch dedication to delivering the highest level of optometric care possible. After that, real estate played a surprisingly significant role.

From the books they read and biggest mistakes they made along the way to their most significant investments and the industry partner vendors they rely on, they spilled it all.

Their stories run the gamut from practical to inspirational. On page 38, we found all the common threads and pulled together their top eight “Keys to Success” for becoming a million dollar practice. With some of the tools in their arsenals being put to use by more ECPs in the U.S., perhaps the 2015 Jobson Optical Research’s Census database average will be even higher.

dcarroll@jobson.com