Frame Inventory Assessment

Optical is heavy in profits, and heavy in overhead.
Which way will you tip the scale.
EYE ROCK IT

We’re lucky in optometry. We get to sell fashion goods, with an Rx medical component. Other docs would kill for this opportunity to have retail and make extra dough.

Let’s take advantage of this!  

Whether your optical is a success or total mess or in between, there’s room for betterment.

Your optical has wings; it will fly itself. But retail takes a hands-on approach while keeping an eye on the prize… the profits.

Don’t let laziness, old staff members, trends, experts, corporations, resistant employees and coworkers, ease of purchasing, trade shows, deals, and prices influence your optical awesomeness.

Only you can initiate the optical change to build your eyewear empire. ­Eye Rock It can help too.

  • Consumers want snazzy cool products. Don’t overcomplicate things. Brands are the death of private practice optical the majority of the time. You sell Coach and RayBan and so does the optometrist down the street.
  • Non-brand-brands are taking over the consumer retail market.
  • We’re not the only industry experiencing brand disruption of goods…think about mattresses, luggage, and leggings.  Traditional companies like Simmons, Samsonite, and Lulu Lemon now have lots of competition.
  • Small eyewear brands are taking over. The quality is superior, the design is stunning, and you maintain exclusivity. Say goodbye to price shopping.
  • You might think consumers are brand conscious. That’s in your head. The best feeling ever is discovering your new favorite brand. Show consumers towards what’s trending and they will see you as an eyewear expert.
  • Sure, there’s brand whores. It’s okay to carry a few key name brand collections of eyewear. Just remember, independent eyewear brands will always make people feel unique because they will be the only person in their friend group sporting something unique.
  • Every model of a name branded piece of eyewear can be found online. It’s not rocket science. Don’t let your RXs walk out your door. When you present “small brand” eyewear, you present the opportunity to show something unique only found in your optical.
  • It’s essential you know how many wholesale dollars you have invested in your optical.
  • Look at every frame you having sitting on a shelf or peg as a $100 bill. This puts inventory into perspective. Knowledge is power.
  • It’s 100% essential you input each frame SKU into inventory and record sales to know your data.
  • Inventory is a science, do it using the right scientific eyewear model.
  • If frame lines aren’t selling, it’s important you ditch them.
  • Staying loyal to failed brands is stupid. It’s like dating that lame girlfriend or boyfriend when really you want to go explore!
  • Recording your frame sales is important to know which frames to reorder.
  • Keep a record of average frame dollar sold
  • Know how many units of frames are sold per month
  • Know how many frames each employee sales
  • Data is king
  • Nothing is more tacky than gaudy tags or writing on demo lenses
  • Prices on frames limits patient spending. They think about prices rather than their appearance.
  • Display prices using secret code. Let the patients ask about your prices. You might think it’s sneaky, but self-service is not a model you want to allow. You are a full service optical and optometry practice.
  • No one is an expert buyer. Sometimes we pick HOT brands out that just don’t sell well. Either our opticians don’t promote it well or the styles are just too boring or exotic for consumers.
  • Don’t feel bad about dumping a brand and discontinuing a line. Sometimes things sell well for awhile then they go stale. Maybe your opticians are just bored. This is natural. We all want new things in life. Your rep will get over it. Move on and adopt a new winning frame line.
  • Profit margins on frames can vary immensely. There’s a right way to buy frames and a wrong way.
  • High end brands, many times the price is the price.
  • Middle end brands, you may have some flexibility
  • Low end brands, negotiation is standard of doing business
  • Don’t pay absurd prices for mid and low-end brands. Your goal is to always make a profit. Be a savvy buyer and know where and how to buy eyewear goods. It’s not as easy as it sounds. Sometimes those “weird no name brands” are the key to your success.
  • Buying groups frequently don’t offer the most aggressive pricing like you think they do.
  • Think about buying frames at international trade shows where vendors are many times desperate to open accounts and give you a great deal.
  • If patients aren’t complaining about your prices being too high, they are too cheap
  • Experiment with pricing to determine sweet spot
  • Simply adding $10 to a frame can result in adding thousands of dollars more at the end of the year
  • People go eyewear insane picking out glasses! It’s a major life decision for most people as they are selecting the perfect frames.
  • It’s important when patients are trying on glasses, they are not just choosing because they are obsessed with a brand, like RayBan, but they choose their glasses because they are visually stunning and fit well.
  • You WANT the glasses aficionado consumer and not the brand conscious one. You want the buyer who just loves exploring brands they have never heard of. You want the buyer that loves trying on new exciting products that can only be found in your office.
  • When you just sell big label brands, you are just another retailer and optometry selling sheep.
  • You might think people want brands, but that’s because no one has ever introduced your patients to quality eyewear without the licensed names.
    • It just takes one time presenting alternative options to patients for them to realize it’s not the name that matters, but the design and build construction.
  • You know that feeling when you find a new great restaurant spot? That’s the same feeling people get when they find the best optical for unique eyewear. They will forever tell their friends to go visit.
  • When you master the art of fitting frames on black and Asian facial features, football player sized heads, and small pea faces…your patients will remember you took the time to select the perfect frame for them
  • You have to actively seek out these frame lines that fit these demographics of patients
  • Go buy frames with Asian fit zyl
  • Go buy oversized frames that have style
  • Go buy petite only frame lines
  • You might sit on these frame collections and not sell a bunch. It might seem like a bad investment at first. But when that patient walks in your door and you can fit them perfectly, they will forever appreciate you and become a returning customer.
  • There’s power in fitting niche patient needs. People don’t like taking risks when buying eyewear. They want consistency. When you can provide this, they will return.

Aug 10 @ 08:30 PM Eastern Time