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Understanding the Different Models of Corporate Optometry

Whether you’re a recent graduate with big plans or you’ve just left a job to start up your own corporate optometry sublease, it’s important to remember that the industry you’re trying to enter is well-established and competitive. There are some basic concepts you need to clear up before you go about setting up your own optometry practice.

Understanding the Market

Based on where you are in the country, you need to have a strong understanding of the number of optometry patients in the area, the projected number of patients down the line and the modern practices of optometry (including information of technological advancements in the industry). Get information on how many other corporate opticals there are in the area.

Select the Right Business Model

Based on your financial standing, potential employees and expertise, you can choose from a list of different business models:

Franchise

Franchising will help you cross the phase where you’re still trying to establish a brand name. Setting up a well-reputed franchise will help you bring in customers who trust the name. This is useful to have optical merchandising, marketing, frame lines set up for you. Some examples are Pearle Vision, MyEyeLab and Cohens Fashion Optical. Many franchise fees are minimal but include discounts on equipment and frames and the company provides marketing for your location.

Sublease

Subleasing will provide you with the same benefits and disadvantages as those of a franchise. The difference will be the startup cost you’ll need. For a franchise, you need a higher budget. Sublease is turn key with the equipment and office set up. The OD would go in set up their own business adjacent to the optical. Many companies will sublease space in Lenscrafters, Target Optical, LC Macy, Walmart and For Eyes.

Independent Contractor/ Fill in

Independent Contractor is a great way to do part time work or fill in work while you work full time as an employee or sublease owner. Independent contractors enjoy the flexibility to practice what hours they agree upon and able to write off expenses and travel for that day of work. Corporate optometry has many great fill in opportunities and the benefits of fill in are more than just income.

Employed

Employed model in corporate optometry has many benefits that many ODs enjoy. There are no administrative tasks or excessive paperwork. You would simply go in and see your patients and do what you do best and that is being an OD.

Employed ODs enjoy paid time off, a competitive salary, bonuses, benefits package and much more. Many companies will have this option as permitted by state law. Many times ODs will be employed by the sublease owner. Some companies in corporate optometry that employ ODs are Warby Parker, National Vision, Luxottica and Stanton Optical.

Podcast

Dr Hillary Morrow: 2019 Employed OD of the Year at Eyeglass World.

Corporate Optometry Nation podcast interviews Dr Hillary Morrow. Dr Morrow was the 2019 OD of the Year at Eyeglass World. Dr Morrow practice in Indiana. Listen in to get more insight on who is Dr Morrow.

She graduated from Indiana University School of Optometry in 2008. She did here undergrad from IU as well. She only did 3 years of courses before going directly to Optometry school . She has worked for National Vision, Inc. since graduation in 2008. Started as a float OD in the Chicago market for America’s Best, worked in Midtown Milwaukee for AB, then transferred to the Oak Creek, Wisconsin location for 4 years. She also had her own sole proprietor business from 2008-2016 working as an OD inside an optical only business until she joined them in 2008, 2-3 days a week in Lake Forest, IL called the The Village Optical Shop while working for Americas Best . She moved back to Indiana in 2016 and stayed within NVI but now work for Eyeglass World. She started as a float OD and now works 4 days a week at our Greenwood, IN location, just under a 3 million dollar store and works 1 day a week at the Noblesville location. She lives in Fishers, IN with her husband and their chihuahua and cat. She enjoy’s running, volunteering at Trinity clinic (a free medical clinic associated with Our Lady of Mt. Carmel church providing health care for underinsured), one Wednesday a month, repurposing old furniture, gardening, and cooking.

Dr. Ryan LeBlanc Discusses the Misconceptions of a Corporate Optometry Sublease

Corporate Optometry Nation interviews Dr Ryan LeBlanc. Dr LeBlanc has four subleases with National Vision Walmart in North Carolina. Listen in to to learn about the subleases in corporate optometry and debunk those myths.