In this video interview, Anna Lam, OD talks about her experience opening her independent practice at Target Optical.
Dr. Lam worked in many different practice modalities upon graduating optometry school. Early on, out of school, she worked in a high volume retail location, and found that she was on the verge of burning out. That's when she decided she needed a change. Working at Target Optical gave Dr. Lam the ability to set her own schedule, examine the number of patients she wanted, and provide the quality of care and dedicate the amount of time to each patient as she felt necessary.
It also provided a great opportunity to develop business skills at very low overhead costs and startup fees. Watch the video and read on to learn the challenges and opportunities of opening an independent practice at Target Optical.
Cost of Having an Independent Practice at Target Optical
Costs are relatively low and include:
- Rent
- Credit Card Processing Fees
Equipment is provided, including: Autorefractor, NCT, FDT, Slit Lamp, and automated Phoropter.
You can bring in any additional equipment you would like outside of what is provided, and are free to provide any type of specialty services you are passionate about.
This ebook will teach you about the different Luxottica brands, and what corporate optometry modality might be best for you: employment, sublease, or franchise.
Opening a Practice at a New Target Optical Location
Dr. Lam started at a new Target Optical location, and therefore had to build her practice from the ground up. Fortunately, at Target Optical, you have access to a built-in support system from the beginning. This support includes Optical Team Leaders, a Regional Manager, and, of course, your fellow ODs. As a new graduate practice owner, this support system gives you the chance to gain valuable experience.
As a business owner, you need to be prepared to wear a lot of hats. You are not only the OD, but the technician, the scheduler, the insurance biller, and marketing manager — among many other things! As your practice grows, you can bring in help, but early on you must develop a strong relationship with your optical team leaders to achieve common goals. Even though your business is different than the optical, success for both businesses depends largely on each other.
Read the ultimate guide for opening a Target Sublease.
Marketing Strategies for a New Practice at Target Optical
As a new practice, you will need to do some outreach. Social media is a great starting point. Facebook and Instagram can be powerful platforms! You must be prepared to step outside your comfort zone, become active within your community, and talk with neighboring businesses. You need to let them know you're there.
As an independent practice owner, you can work as hard as you desire to create your own success story. If you want to be your own boss, and practice the way you want, then you should consider this practice modality.
