Optometry Business Plan

Business Plan Articles

If you have contemplated opening an optometry business, there are many factors that you need to consider. For instance, the location of the office, marketing strategy, and operations plan are all important factors. Investors that contemplate financing an optometry office will review these characteristics as they compare to other potential investments in the space. Fortunately, Pro Business Plans has extensive experience working to start optometry offices and this article provides information about what it should include.

optometry business plan

Optometry Business Plan

There are often many options available to people in need of an optometrist , albeit restricted to their insurance provider and geographic location. Therefore, it is important for a new optometry office to understand the best way of acquiring and retaining new patients, while still reaching profit expectations.

This includes a combination of selecting a location that is accessible to patients, employing marketing strategies to ensure a low customer acquisition cost, and having a system in place to retain clients over a long-term period of time. These unique aspects are developed and reflected in the business plan.

Business Model

The business model for an optometry practice is relatively straightforward, but there are several more details to consider when planning for the entire business model. The difference in location for instance, can make a substantial impact on the success of the operations and moving may risk the existing customer base that you have already acquired. Some optometrists also sell additional products such as glasses frames or generate money from referrals. The business model also communicates the target marketing that you plan to attract, which will impact the overall culture of the practice and often dictate its location.

Marketing Plan

The marketing strategy of a business plan for optometry is designed to develop a strategy that will result in the lowest possible cost of acquiring new customers. Many optometry practices still use traditional marketing methods and neglect the latest digital strategies. The Yellow Pages have been phased out and replaced with Google Places and Yelp! to find professionals. A professional website with an online booking system that is properly optimized can mean the difference between acquiring a new customer or passing on a potential lead.

Financial Projections

An optometry business plan should properly outline the profit generating potential not only for the optometrist, but also financiers that may be investing into the operation. This is reflected in the standard financial statements that are prepared based on the unique business model of your optometry practice, combined with an analysis of similar practices, and the specific geographic location. Pro Business Plans has prior experience performing financial projections for optometry practices and can work with your team to complete the financial section of your plan for internal analysis and investors.

What is Included in Our Custom Optometry Business Plan?

  • Marketing Plan
  • SWOT Analysis
  • Competitive Analysis
  • Profitability Analysis
  • Personnel Plan
  • Organizational Chart
  • Company Valuation
  • Executive Summary
  • Company Description
  • Keys to Success
  • Three Year Objectives
  • Product or Service Description
  • Market Research
  • Fundraising Support
  • 12 Month & 3 Year Profit & Loss
  • 3 Year Balance Sheet
  • 12 Month & 3 Year Sales Forecast
  • 12 Month & 3 Year Cash Flows
  • Break-Even Analysis
  • Financial Ratio Analysis
  • Management Team

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