OPSM is Australia’s leading eyecare provider. We deliver quality eyewear and eyecare experiences that connect with people through innovative technology, outstanding service and what’s arguably one of the best product portfolios of any eyewear retailer in the world. Our brands cater to all customers’ style and price points.
Question: 13/05/13 - There are different options available, you are best to call 1300 961 588 and speak with your local Franchise Development Manager.
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OPSM Franchising Opportunities
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06/09/13 - Dynamic Business reports that OPSM took the number four spot in this year’s BRW’s Fast Franchises list and was run under a store-owned model until 2008. Director of franchising and acquisitions at Luxottica, Peter Baily believes that brand has returned strongly to the market because they found franchisees strongly aligned with the brand and business model. “We’re looking for people who are aligned to our philosophy of providing great eye care, products, and customer service. If someone didn’t hold those things to heart, they probably wouldn’t fit in our business,” Baily said. Even though the company looks for potential franchisees with previous experience in running a business, Baily believes the most important thing is that they are passionate about business. Luxottica offers several franchise models with varying levels of franchisee involvement to cater for different business goals and needs with the company taking care of all the back end issues. Bjorn Russell became part of the OPSM brand when he grew tired of running his previous shop’s back end for nearly ten years. “I was looking for an opportunity to manage the entire shop’s operation, but not as an independent optometrist and all the stress that would bring. I wanted a framework that would give me a degree of autonomy, with back-up and other experience I needed,” Russell said. As well as being OPSM’s first franchisee, Russell also invests in new testing equipment and is regarded as one of their most innovative team members. “There are a lot of fairly expensive pieces of equipment you can purchase, and I’m a gadgets man so I jumped in and bought a whole lot of it. We used it and showed OPSM what was possible,” he added. After conducting its own research and reviewing results, OPSM has rolled out new technology across its stores to put itself ahead in the game against its competitors.
28/08/13 - Under the watchful eyes of owner Luxottica, OPSM launched its initial franchise strategy in 2008 but the response fell short of expectations and Luxottica brought in specialists to give advice. The Age reported Luxottica bringing in franchise expert, Peter Baily in 2010 to turn the franchise model around and to build on OPSM’s growth. “It made sense to offer a franchise model as optometry has always had a history of business ownership,” Baily said. “It was a big shift from being a big business to a franchise business. You need to take the success of the franchise partner to heart; you have to engage with people as they are putting in their own money.” Baily’s game-plan was completed in May 2011 and recruitment for franchisees began. “We have 85 franchise partners now and there are 29 in the process of coming on board; it has been a rapid growth,” he said. The three following models are offered: Full franchise – the business must be purchased or constructed and the franchisee owns the store and the optometry business. The cost will depend if an existing store is bought or a new location is set up. A one-off franchisee fee of $35,000, a royalty of 7.5 per cent of sales and a marketing contribution of 6 per cent of sales is also applied. Optometry-only – this is a cheaper option costing between $50,000 and $75,000. A royalty fee of 4 per cent of sales is charged to franchise partners and any rental paid is in proportion to the space used in the store. For example, if a franchisee uses 15 per cent of the space, payment of 15 per cent of the rent is required. Alliance – this allows the franchisee to try before they buy where they are provided with a store at no cost for 12 months but rent is charged along with a 4 percent royalty fee. After the 12 months, franchisees have the chance of taking over the franchise for five years with an option for five more. “We are experiencing 80 per cent growth and have had a lot of success with independent optometrists. “There is a lot of competition, but with OPSM they can see a better way. There is less cost for the product, and they can link into our marketing and receive support and training.” Baily said. Read about a franchisee’s experience here. Baily said the company is not only looking for franchisees with optometry experience but business professionals from other backgrounds to invest in a franchise. “As a franchise it is a good model,'' he says. ''There are no late hours, you deal with fewer staff and the returns are good.”
06/05/13 - Why did you choose that franchise model? I had already reached my earning potential as a pure optometry licensee at Just Spectacles. I decided that I wanted the challenge and also the control of running both sides of the business, not just the clinical. What is your Luxottica story? I have been with Luxottica since 2009 when I became a Full Franchise Partner. I started working with Just Spectacles nine months after graduating from university as a licensee. After 11 years I decided I needed a new challenge and became an OPSM Full Franchise Partner. Why Luxottica? I really identified with the OPSM brand. It is a brand that is all about quality in service and in patient care. I also loved the fact that both Luxottica and OPSM are such well established businesses; it gave me a real sense of security in my purchase. What has been your most rewarding moment with Luxottica? There are many rewarding moments but I really enjoy building relationships with my patients. I have some patients that have been with me for years; including one couple who I have watched grow from when they were first dating, to university, to marriage and I now care for their two children’s eyes. What is your greatest professional achievement? I am currently on the Optometry Association Board for WA and am in the midst of having a clinical paper published. But the greatest of all is that I have had three patients go on to study optometry interstate. What motivates your business success? There is an obvious financial reward, but I really enjoy building patient relationships as that provides me great personal satisfaction. Part of this comes from the diagnostic technology available as there is always something new to improve patient care. And all of these elements help me build a business that will be saleable in the future. What are three reasons why you love being a Luxottica Franchise Partner? The systems and structure are fantastic – it’s great having processes in place that make my life easier and free up my time for more important things. I know I am increasing my earning potential. Being part of a well known, quality brand that sells the best brands. Do you enjoy being part of a large network? It is great to be a part of a group that is so well known and established. It gives you security and strength with the advantage of excellent public awareness. Luxottica’s product range? The Luxottica product range is great – being able to sell such well known, quality frames is an absolute pleasure. Do you manage a good lifestyle/work balance? It’s fantastic. Luxottica provides a golden opportunity as an Optometrist – as far as I’m concerned I have an easy gig! Tell us about your business performance. I am extremely happy with how my store is trading and the customer feedback is always positive which is also very encouraging. What are your thoughts about Eyebiz? The high quality work that the Eyebiz lab generates is exceptional. It is nice to know that when you order a patient’s glasses you are getting the highest quality frames with the exceptional workmanship of the Eyebiz lab. Another perk of being a Luxottica Franchise Partner is that you reap the benefit of all the research and development that Eyebiz is always undertaking. How has Luxtottica’s many Business to Business contracts worked for you? They have been a great alternate revenue stream for my business – it’s easy money. What about the Auto Replenishment process? This system has definitely made my life easier. What advice would you give Franchise Partners considering joining? I would say; why wouldn’t you join? It is my belief that if you are a good Optometrist you will succeed in the Luxottica model.
04/04/13 - According to the OPSM Future Vision Report, Australians care more about their health than their careers and financial security. Nine in ten Australians said they value their health over their career paths and over 75 percent value health over money. David Chalke, social analyst on behalf of OPSM said, “The OPSM Future Vision Report results show Australians are very concerned about their health, but are also positive about the improvements in future health technology will bring”. The report revealed, in 80 years time, Australians would like to see health innovations such as glasses that increase vision or allow patients to see in the dark. Grant Fisher, national eye care director for OPSM said, “While technological improvements help reduce human error for greater accuracy, as service providers it’s important to keep the personal interaction that Australians cherish. "With the launch of Accufit, OPSM is now expanding on its high level of service to give customers a more personal yet innovative experience when choosing their frames and lenses.” Accutfit enables OPSM to improve and customise every customer experience by ensuring accuracy when determining prescription placement on the lens. The technology also offers a lens simulator that shows the differences between various lenses available and a virtual mirror that allows customers to see themselves in four different glasses simultaneously.
22/03/13 - BRW’s Fast Franchise list ranks candidates according to their average annual turnover growth over three years. OPSM ranked number four on this year’s list. Peter Bailey, director of franchising & acquisitions at Luxottica, said “We are thrilled to win this recognition. It’s based on the effort and expertise of our support team and the strength of our brands and systems. “We have established solid foundations to support and empower our Franchise Partners and, being part of a global brand, we are able to lead through innovation.” OPSM’s franchise network was established in 2008 and is expecting to welcome their 100th franchise partner this year. Last year, OPSM won the Emerging Franchisor of the year from The Franchise Council of Australia.
07/11/12 - Eye care franchise, OPSM, has signed up a five year partnership with Cricket Australia to provide its players with optometry services and merchandise - sunglasses and spectacles. "This new relationship with OPSM will give our cricket players access to cutting edge technology, outstanding service and the highest quality range of eyewear in the world to help them perform at their best," said Melinda Spencer, vice president of marketing for Luxottica, which owns the OPSM brand. To officially launch the partnership OPSM installed a cricket net at the flagship OPSM eye hub store in Melbourne, simulated the heat and light conditions of a typical game of cricket, and invited Australian cricketers James Pattinson, Peter Siddle and Matthew Wade, to show off their cricket skills and the new eyewear. Source: www.franchise.net.au