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Evaluating Sublease Opportunities: Key Questions Every Optometrist Should Ask

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Selecting the right sublease location is a critical business decision that can significantly impact your income, patient mix, and long-term professional satisfaction. Each sublease opportunity is unique—some are turnkey operations, others are newly developed locations, and some come with an established patient base. Understanding what to evaluate and which questions to ask can help you make an informed and strategic decision.

When gathering information, it is important to speak with multiple stakeholders, including recruiters, regional managers, and store managers. Answers may vary depending on the source, so asking the same questions of each party—on separate occasions—can help verify accuracy. If a previous doctor practiced at the location, speaking directly with them can provide valuable insight and help avoid unexpected challenges.

Finally, remember that most lease terms are negotiable. A thorough evaluation upfront can protect your practice and position you for sustainable growth.

Operational Structure and Clinical Autonomy

  1. How are appointments scheduled, and what is the standard appointment length?
  2. What expectations exist regarding walk-in patients?
  3. Will you have autonomy to practice according to your preferred model, such as medical optometry, vision therapy, or contact lenses?
  4. What level of administrative and clinical support is provided by the staff?

Staff Experience and Responsibilities

  1. How long has the staff been employed at the location? Staff longevity often reflects stability, engagement, and operational efficiency.
  2. What responsibilities does the staff handle for your practice, including appointment scheduling, pre-testing, insurance verification, and authorization processing?

Financial Terms and Lease Considerations

  1. What is included in the rent (equipment, staffing, calibration, office supplies, etc.)?
  2. What is the current rent, and are increases expected in future years? Be aware that basing rent on a percentage of doctor income is illegal in some states.
  3. For newer or lower-volume locations, is there flexibility to adjust days or hours based on patient demand and seasonal trends?
  4. What restrictive covenant applies to the location, and what is the geographic radius? These terms are often negotiable and can significantly affect future practice options.
  5. What are the termination provisions for both parties, including required notice periods and lease duration?

Historical Performance and Patient Retention

  1. If another optometrist previously practiced at the location, why did they leave, and what was their weekly schedule?
  2. Were patient records retained at the location or transferred elsewhere? If patients followed the departing doctor, this may impact initial patient volume and serve as a negotiating point for rent or hours.
  3. What were the gross optical sales for the location over the past year? Doctor revenue often approximates 22% of optical sales, though this varies based on insurance mix and medical services offered.
  4. What percentage of sales come from outside prescriptions, indicating the strength of local marketing efforts?
  5. What proportion of patients are new, self-pay, or vision plan participants? A healthy, growing location typically sees 25–40% new patients.

Volume Expectations and Growth Potential

  1. Are patient volume reports available for the prior optometrist or projected volumes for new locations? A sustainable schedule typically supports 8–12 patients per day before expanding days or hours.
  2. For new locations, recognize that building a patient base often takes up to three years. Confirm whether your contract allows you to practice at additional locations during this period.
  3. Are you permitted to sell products within your office? Product sales can contribute up to 20% of gross revenue and may offer additional growth opportunities.

Competitive Landscape and Strategic Planning

  1. Does the lease include a split-lease provision allowing another doctor to practice on days you are not present? This arrangement should be reviewed carefully to ensure it aligns with your long-term goals.
  2. What is the competitive density in the area, including private practices within five miles and corporate opticals within ten miles? Understanding competitor schedules can help you strategically select hours and days that maximize patient access.
  3. Can the optical guarantee a minimum number of patients per week?

Final Thoughts

A sublease can be an excellent opportunity to build or expand your practice—but only when approached with a clear understanding of the operational, financial, and competitive factors involved. Asking the right questions and negotiating thoughtfully can help ensure that the opportunity aligns with your professional goals and sets the foundation for long-term success.

Playing Defense in Optical Sales

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Optical sales account for 60% or more of revenue in many private practices. Traditionally, we’ve focused on KPIs like capture rate, staff bonuses on upgrades, and maximizing insurance reimbursements. The higher the capture rate, the higher the compensation for optical staff. The logic has been simple: the higher the capture rate, the stronger the practice.

But here’s the problem: the strategies haven’t changed. We continue to hear the same tactics—discounting, price-matching, negotiating with labs, or private labeling. Meanwhile, the landscape has shifted. Online retailers have sold tens of millions of pairs of glasses so far and will continue to grow. Managed care increasingly directs patients to optical chains, and online retailers like Zenni sell glasses for $15—an impossible price point to compete with. Even corporate opticals are struggling to keep pace with the online market.

The future of optometry lies in expanding scope of practice, leveraging AI for administrative tasks, and moving beyond reliance on optical sales alone.

So, what happens when all the traditional “offense” strategies fail? After exhausting every effort to capture the sale, it’s time to think differently: play defense. Just as in sports, defense can win championships—why not use the same approach to strengthen our profession long-term?

Here’s how I play defense when patients are determined to buy glasses online—something many of them have done for years without issue:

  1. Contact Lenses for New Wearers – Introduce them as affordable, practical alternatives: (Ortho K, daily lenses, extended wear contact lens.
  2. Refractive Surgery – If the patient is a candidate, recommend LASIK as a glasses-free option.
  3. Cataract Surgery with Premium IOLs – For appropriate patients, discuss lens implants that reduce or eliminate the need for glasses.
  4. Presbyopia Drops (e.g.,Vizz) – Offer cutting-edge solutions for patients who want freedom from reading glasses.

Playing defense isn’t about giving up on optical—it’s about protecting the value of our profession. Stop fueling online retailers. Too many ODs avoid this approach out of fear it will hurt their dispensary if they fit cl or rx a presbyopia drop. But when a patient is already set on purchasing elsewhere, refusing to play defense only fuels online retailers and undermines the role of optometry. By expanding the conversation and offering alternatives, we provide real value, build trust, and protect our profession in the long run but not supporting our competitors.

Reducing Overhead Costs in Your Practice.

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Establishing a solid financial baseline is critical when launching an optometric practice to stay within budget. A standard optometric practice typically operates with an overhead ranging from 30% to 40%. These costs come from employee salaries, cost of goods, occupancy expenses, examination equipment, marketing, and doctor’s compensation. Whether you run a small or large practice, managing overhead is crucial for both success and long-term savings—especially as you plan for retirement.

Balancing rent, energy bills, salaries, and other office expenses can be a challenge, but with the right strategies, you can reduce overhead and improve profitability. Here are some ways to strategically cut costs without compromising quality.

1. Identify Financial Weaknesses and Create a Plan

To begin reducing costs, identify the areas where your practice is financially strained and where you can easily make adjustments. Start by reviewing and analyzing your optometry expenses on a monthly, weekly, and annual basis. This will help you spot trends and uncover opportunities to cut costs.

Since staffing, rent, lab fees, and supplies make up the bulk of overhead, focus on these key areas first. If managing these numbers seems overwhelming, consider consulting a financial advisor. They can help you assess your situation accurately and offer guidance on reducing expenses while planning for your retirement.

Once you’ve pinpointed the pain points, create a financial plan that includes realistic goals and regular reviews. Make small changes and stick to them, as gradual adjustments can yield significant savings over time.

2. Evaluate Staffing Costs

Staff salaries represent the largest overhead expense for most optometric practices. The competitive job market, paired with increasing salaries, can cause staffing costs to spiral out of control. It’s essential to ensure your team’s total salaries account for about 25% of revenue.

To retain good employees without breaking the bank, focus on building a positive work culture. Connecting with staff on both professional and personal levels, organizing team activities, and offering development opportunities can go a long way in keeping employees satisfied. Retaining staff is not only good for morale but also for controlling overhead costs.

3. Equipment Purchases

The cost of setting up an optometry practice can be high, especially when purchasing advanced equipment. To manage these expenses, if a piece of equipment costs over $5,000, review your budget with a financial advisor before making the purchase. They can help you determine whether it’s the right time for such an investment without straining your budget. Analyze your patient base and what diagnosis might fit in with certain equipment.

While cutting overhead is important, maintaining quality care for patients is essential. Therefore, any investment in equipment should balance financial prudence with the goal of enhancing patient experience.

4. Keep Supply Costs on a Tight Budget

Monitoring your supply expenses is key to reducing overall overhead. As a rule, supply costs should not exceed 6% of gross production. Review your practice’s past year of supply purchases to see where you can cut costs or find more cost-effective options.

Establishing strong relationships with reliable suppliers can help you find affordable materials without sacrificing quality. Regularly comparing vendors will ensure you’re getting the best deal available.

5. Manage Lab, Equipment, and Procedure Fees Wisely

To deliver high-quality patient care, your practice needs efficient labs and up-to-date equipment. However, lab expenses should be kept under 12% of total production. If lab costs exceed this threshold, consider using multiple labs or finding more cost-effective options without sacrificing quality.

Additionally, be mindful of insurance reimbursements when calculating procedure fees. If insurance reduces the cost by a significant percentage, look for other ways to offset the difference.

Final Thoughts

Implementing these small changes can add up to significant savings for your optometric practice. By identifying financial weak spots, creating a realistic plan, managing staffing costs, and keeping a close eye on supply and lab expenses, you can reduce overhead while maintaining the quality of care. Following these strategies will help secure the long-term success of your practice and allow you to save more for retirement.

The Opportunities to Integrate AI into your Practice.

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The incorporation of AI in optometry will transform the way we diagnose and provide care to patients. There are opportunities within optometry to leverage AI, utilizing the data from imaging systems and electronic health record (EHR) data. Here are several advantages illustrating how AI can positively influence both patients and the industry.

Integrating AI into remote eye examinations offers the potential to enhance precision in refractions and detect eye diseases at early stages using data from telemedicine assessments. Telemedicine eye exams has not only expanded access to care for patients in rural America but have also addressed the shortage of optometry practitioners in various areas. Additionally, the growing preference among optometrists for remote jobs suggests that the opportunities for leveraging AI in this context will likely continue to expand. AI will provide efficient screening, and diagnostic testing and improve imaging analysis.

With the advancements in analyzing big data, we can anticipate earlier detection of eye diseases and a thorough analysis of the prevalence of advancing conditions. This capability will enable the development of more personalized treatment plans. From a business perspective in optometry, these innovations allow us to confidently see a higher volume of patients each day, facilitating a smoother diagnosis and streamlining the process of referrals for treatment plans.

Imagine the world of Eye Care where AI solutions streamline the approval of prior authorizations, assisting with uncovering KPIs in your practice to make it more profitable and schedule appointments for patients to contribute to a more lean and efficient practice.

Impact with purpose. Envision assisting visually impaired individuals with new AI solutions, delivering care to underdeveloped countries from your living room, and changing the lives of patients with tools that we never had before!

Rising Above the Competition: Stop Competing Down.

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Your journey to personal development starts with a desire to do a little better each day. Your best potential self is achievable if you seek improvement. We can’t get comfortable with your achievements, we need to face some resilience in order to continue to excel. Having a target goal of where you want to be in 1 year, 5 years and 20 years can provide a clear vision, helping you visualize and plan the direction you aspire to take. Once you know where you want to be, find a business or person that is there, do you have the ability to compete with them at that level? If not it is time to get to work! It has been said that if you are the smartest person in the room you in the wrong room.

Challenging oneself to competing with strong opponents like well established medical professionals or even large corporations can be viewed as “competing up”. Many times I will see individuals” competing down” to secure easy victories in business. Individuals that continue to do so throughout their careers will never find their true potential and have a successful businesses. When competing down to secure success, the underlying cause might be a perceived shortcut to quick gains or a strategy to minimize challenges. It’s essential to carefully evaluate such decisions, considering the long-term consequences that inhibit growth. Competing up often fosters growth, innovation, and resilience in the face of challenges. Once you start competing up you get confidence. Confidence to know you belong at the table. Once you finally get there it is easy to know you have the potential and you have been “training” all along for it.

Competing UP is not for everyone. It is a certain mindset. It is a growth mindset. Do I have the potential to be bigger and better than big players in your category? Embarking on a business journey has inevitable ups and downs. Learning from the early stages of your career and embracing the challenge of competing at higher levels not only cultivates resilience but also compels continuous improvement and overall growth.

Preparation is important. You are training to see how you can handle the pressure. Can you handle working 60+ hours a week, having uncomfortable conversations, dealing with fear tactics and walking alone in business? These are things that you learn by competing up. When you compete up, you will know if you are cut out to be the next CEO or business leader. Are you ready to finally Level UP!?

5 Qualities You Need to Be a Successful Optopreneur

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Have you been thinking about starting your own optometry business? Building a business from the ground up and running it successfully is no easy feat. As is with every type of industry these days, the competition is intense.

But no obstacle is too big to deter a true entrepreneur from his or her chosen path. You may already have an entrepreneurial spirit. But even if you don’t, it’s possible to develop the qualities of a successful entrepreneur with practice.

1. Do What Others Won’t

Coming up with an idea and sticking with it is the most definitive trait of an entrepreneur. A successful entrepreneur goes with what clicks their mind rather than blindly following other’s opinions and acting on someone’s ideas. You shouldn’t waste your time and energy overthinking matters to the point that taking even the first step becomes too much of a task.

What you need to do is collect your thoughts in a way that allows you to come up with a productive plan for implementing your idea.

2. Say Yes to all opportunities

Being an entrepreneur demands being confident and believing in your skills and abilities. Having confidence in yourself gives you the strength to deal with the hardships that may come up in your way from time to time. True entrepreneurs readily accept every opportunity that comes their way because ‘no’ is not an option for them.

You must learn to be self-sufficient and self-reliant as well.

3. Don’t Let Anyone Put You Down

Entrepreneurs are met with all kinds of opinions and advice, including the helpful as well as the not-so-helpful one. Your friends and family members can particularly have a strong influence on how you perceive the feasibility of your plan. Listen to people who genuinely support you. And meanwhile, ignore and isolate yourself from the environment where you feel negativity towards your business. People may talk you into stay in your comfort zone and avoiding going into unchartered waters. As a true entrepreneur, remember to stay firm on your beliefs and not let anyone put you or your ideas down.

4. Stay Strong and Positive

You have to be fearless to be successful. If you don’t succeed at first, keep trying until you do. Remember that failure is not defined by incurring few losses but only when you stop struggling to achieve the goal that you initially set for yourself. Your so-called mistakes are actually a learning opportunity as they can teach you a lot about where to start from and what not to do the second time. Entrepreneurs stay focused on their goals and never give up as they know that great things happen by doing hard work.

5. Stand Up for What You Believe

When entrepreneurs introduce an idea or launch a startup, there’s always a chance that someone or the other will oppose them. A smart entrepreneur respects the freedom of speech but at the same time knows how to stand up and defend his or her ideas. It’s good to learn the art of how to disagree without being disrespectful to others, while maintaining one’s dignity at the same time.

Reflect on your work attitude and aptitude. You may already have the qualities of a successful entrepreneur but might not have realized it yet. If you can master these skills as an optometrist, rest assured that the world is your oyster.

A Bright Opportunity for Growth

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6. Gao et al. (2019) Int J Ophthalmol 12(11):1708-1713.
7. Liu et al. (2017) Am J Ophthalmol 183:81-90.

5 Tips for Improving Your Optometry Practice’s Reputation

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Enhancing your optometry practice’s reputation is vital for attracting new patients and retaining old ones. Outbreak of a pandemic has changed the way optometry is practiced.

It is now more cost-effective and rewarding to invest in digital marketing techniques for building your brand image. Here are top 5 tips to establish your optometry practice as a reliable contender in the market.

1.    Search Engine Optimization

Search engine optimization (SEO) is the process of enhancing your online presence by improving the quantity and quality of your website traffic. Optimizing your website increases its visibility by helping it rank higher on the search engines results page.

In this day and age, people increasingly use the internet to search for different products and services. Build an efficient website so that people looking for optometry services are able to find it easily. When you have a website that appears higher on the search engine results page, potential customers are automatically going to perceive your practice as a reliable one.

2.    Content Marketing

Producing engaging content is imperative in attracting more potential clients to your optometry practice. Text, info graphics, and videos are all examples of content you can upload to your website.

Blogs are an effective way to market your business. Share engaging and informative content to bring more web users to your website. Upload blogs regarding optometry or related topics to show that you possess sound knowledge regarding your profession.

3.    Ask for Customer Reviews

Get patients to review your practice so that you can display them on your website. Include a link on your website where customers can type in their review.

You can choose quotes from customer reviews and place them throughout your website to improve your optometry practice’s reputation. Reading about positive experiences will encourage people visiting your website to sign up for your products and services.

4.    Pay-Per-Click Advertising

Opt for pay-per-click (PPC) advertisements to get your business noticed when people search for optometry practices online. These ads usually appear at the top of the search engine results page along with organic results, or appear on the sides of search engines.

PPC works like buying visits to your website. You will be charged a small fee every time a web user clicks on your ad. These ad campaigns can be easily targeted towards a local audience to help raise awareness about your practice in your locality.

5.    Email Marketing

Email marketing is the oldest yet one of the most effective forms of digital marketing. When patients sign up with your practice, encourage them to share their email addresses.

Email patients to remind them about their annual exam, and send them follow-up emails if they don’t make an appointment. You can also email newsletters with informational content to engage clients. Email marketing is also an effective way of informing prospective patients about any new offers or discounts that you introduce.

Other than adopting online marketing techniques, you can enhance your optometry practice’s reputation in a number of small ways. Readily offer a refund when a customer is unhappy or lease additional space nearby to help patients park their cars close to your practice. A solid brand image will draw in more patients and encourage older ones to revisit.

Using the Business Model Canvas for Optometry Practices

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The Business Model Canvas is a strategic tool used by businesses to visualize, design, and develop their business model. In 2005, a Swiss business theorist Alexander Osterwalder proposed a simple and straightforward technique for drafting a business plan. Called the ‘business model canvas,’ the concept was formalized in his book, Business Model Generation, published in 2010.  

What is the Canvas?

The business model canvas is a one-page planning tool. It consists of nine boxes, each representing one of the core elements of a business.

Optometrists can use the business model canvas as a sheet for brainstorming new ideas for their practice.

The Nine Components

The nine elements of the business model canvas are as follows:

  1. Customer segments – Define your target audience. Who are your most important customers? What are they attracts these customers to your office?
  2. Value propositions – What problem are you solving for your customer? Your unique solutions or the ‘value’ you hope to deliver to the customer segments.
  3. Communication channels – The different modes of communication to interact with your customers.
  4. Customer relationships – How strong is your relationships with your customers?
  5. Revenue streams – The different sources of income for your practice. Does your company have multiple methods of generating revenue? What is the pricing strategy for the products and how do you offer customers to pay for products?
  6. Key resources – these are the main assets and other supplies you require in order to fulfill your value propositions.
  7. Key activities – What specific key activities are necessary to deliver your value proposition? What differentiates you from others? What services do you provide?
  8. Key partnerships –Identify your company’s key partners. This can consist of important suppliers? What resources and duties does the company receive from these partners?
  9. Cost structure – What are major drivers of cost? Fixed vs variable.

Here is a sample of a Business Model Canvas.

ODs want Executives in Optical Stores.

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In recent news,  Starbucks’ new CEO Laxman Narasimhan says he plans to work once a month in one of the company’s stores in an effort to stay close to its culture and customers. He claims that it will help him understand the business by immersing himself in every part of the business.  Many times CEO’s are out of touch on what is going on at the store levels, this includes the optical industry.  As a leader in the organization, they come up with a strategic plan and make decisions on what might be best direction for the company for that time. Hindsight is always 20/20! Many optical leaders are result driven and are nearsighted about decisions that might bring positive numbers now but bigger losses in the future.

Recently, I posted a poll in the Corporate Optometry Facebook group and  I asked,

“Do you think that Executives in Optical should work in stores on a regular basis?”

66% of  Corporate ODs stated YES, they think that upper management should work in the stores. This would provide  realistic expectations on goals created and help upper management understand the customer experience, and employee work culture. Working with the OD on that side of the business would help gain awareness on struggles that ODs face on a daily basis. Working the hours of operations that many do til 7pm or 8pm and weekends, to immerse themselves in this burnout culture that has been created to meet goals.  Eye Care Directors should spend a day leading by example seeing 4 or more patients an hour or doing telemed exams. Having them illustrate policies and procedures that have been created as sales tactics and marketing materials that are out dated.  Getting to know employees and ODs at a personal level will create employee engagement, satisfaction and reduce turnover.

The most alarming stat from the survey was that 28% of the responses stated that they didn’t think the executives could handle working in the stores.  This illustrates that many don’t have confidence in leadership competence, and that expectations are unrealistic. Leadership is so far removed from the ground truth.  

Exercising this idea as an active “role playing” in an organization. This type of leadership can be viewed as servant leadership. This style is based on leaders serving the greater good of the team and organization, than personal growth. With time, it would create new culture in companies and cultivate new ideas for programs to improve customer service, building trust, employee engagement and satisfaction. Image the change our industry could have and evolve if executives rolled up their sleeves and experienced the daily struggles that staff and ODs have!