SPONSORED CONTENT A Smart, Profitable Niche Style: Purpose (Modern Times) MSRP: $99 Value-driven eyewear is essential in any ECP’s business plan, including in upscale dispensaries. As consumers search online for transparency and value, offering an assortment of quality eyewear at affordable prices is a must. Today’s “Bargain Shopper” culture transcends all socioeconomic lines. While value-minded consumers typically utilize managed vision care plans, lower-priced eyewear also has its place in affluent areas where spare pairs, multiple readers, and Rx sunwear are commonplace. Getting something for less is simply smart shopping. Strategic management of a practice’s value frame boards can turn this niche into a high-volume profit center. Consider the guidelines below. Offer Frame & Lens Packages Bundling value eyewear with lens options helps improve capture rates, generate volume, and increase margins. Here are a few tips: Retain contact lens patients by offering “bedtime glasses” for only $75 with their one-year supply of contacts. Compete with online retailers by creating a $99 frame-and-lens board. Build your sunwear business with a dedicated Rx-able sunglass display. Style: A626 (Modern Art) MSRP: $199 Promote Multiple Pairs Value eyewear is perfect for second-pair sales. Help patients identify lifestyle needs that warrant additional pairs. Effective suggestions include the following: Guard against loss or breakage. Keep a pair in the workshop or in your golf bag. Suggest that hybrid workers have one at the office and one at home. Keep both driving glasses and prescription sunglasses in the car. Normalize the concept of an “eyewear wardrobe” by suggesting a different material, color, or shape for second (or third) pairs. Style: GVX581 (G. V. X.) MSRP: $199 Carry a Diverse Selection Consumers love getting designer looks without paying designer prices. This includes eyewear. Fortunately, value-driven eyewear is more fashionable than ever! Here are a few ways to encourage your customers to expand their own collection: Carry a variety of classic, retro, and contemporary styles. Offer styles in multiple colors. Carry a range of materials, such as acetate, metal, titanium, and TR90. Stylish yet affordable options will allow patients to leave your office feeling great when it comes to their wallet and when they look in the mirror. Style: Yuma (Modz) MSRP: $149 Source a Quality Vendor Selling poorly made frames will erode your customer base over time. Seek a reputable vendor with quality frames, strong warranties and responsive customer service. Industry experts recommend a 60% gross profit margin on insurance frames to stay healthy. Consider these questions: Do your supplier discounts help achieve that target? Are your vendors’ styles on trend? Do they carry extended sizes or petites? What’s their backorder rate for the collections you offer? How do your vendors handle returns? Budget Friendly Is Business Friendly Dedicating a portion of your frame inventory to value-oriented eyewear makes smart business sense. A careful review of these guidelines will help your practice better serve patients’ needs, bolster profitability, and effectively compete against online sellers. It’s a true win-win scenario! Visit Modern Optical at Vision Expo East Booth #P938. P (800) 323-2409 | W modernoptical.com | E CustSvc@modernoptical.com