Optometrist Business Plan

This presentation provides a comprehensive guide on creating a business plan for an optometrist clinic. It covers various aspects such as mission and vision statement, products and services, engagement activities, marketing plan, pricing strategies, payment options, expansion plans, sales forecast, industry analysis, target segment, competitor analysis, finance, and equity share.

OPTIMETRIST
BUSINESS PLAN
Submitted by
Name:
Student ID:
Subject:
Date:

MISSION AND VISION
STATEMENT
Vision: To top the list of eye care service providers in Sydney and
furthermore to be known as among the best 20 eye care specialists
in the country in a span of just 10 years(Chawla, 2015).
Mission: Dr. Pauline's central goal is to set up a top-notch eye care
center that will deal with both exceedingly set customers and
modest put customers who can bear the cost of our
administrations. We endeavour to be the top pioneers in the
optometrist business in Sydney, and in the Australia.

PRODUCTS AND
SERVICES FOR THE
CUSTOMERS
Vision Problems
Lenses and Spectacle Frames
Eye Maladies
Vision Care
Impaired Eye Problems

ENGAGEMENT ACTIVITIES
WITH STAFF
Organise a customary workforce conference to encourage them to
stay motivated
Arrange ordinary and differed staff instructional courses for all
kinds of staff(COCKERHAM, 2010)
Ensure the worries of the patient are resolved on time
Involve at the front of the training, welcome patients and help the
distributors and other staff individuals.
Ensure preparation of allocator to answer all the queries(Ghandour,
2014).

SET-UP OF OUTLETS
Outlet should be well painted, cautiously spread out and
sufficiently bright
Properly arranged to advance your training's items and
administrations.
Promotion of specialised items as compared to the less expensive
ones.
Place ads on TV in the outlet about services provided at
outlet(Gates, McDaniel and Braunsberger, 2000).
Include leaflets in the waiting area of the outlet
Keep the clinic clean and fragranted

MARKETING PLAN
Send customized cards and telephone calls to each patient.
Update the site month to month, and incorporate data pieces about
an alternate visual condition every month
Advertise your practices in the advertising magzines
Boost Customer Contact through an enhancement of experience at
each touch point(Koch, 2013)

PRICING STRATEGIES
Eye care facilities, emergency clinics and well-being services
specialist organizations and the customer base is in postiton to
afford the services, so a premium pricing can be kept for high end
customers.
In perspective on that, it is less demanding for eye care facilities,
emergency clinics and social insurance specialist co-ops to charge
their customers situated in their attentiveness(LeBeau, 2009).

PAYMENT OPTIONS
Given below are the payment choices that Dr. Pauline Eye Care
Clinic will make accessible to her customers (Mancuso, 2013);
check
Bank exchange
cash exchange through mobile
online bank exchange
Mastercards

EXPANSION PLANS
Dr. Pauline Eye Care Clinic will have to focus on the foundation to
further expand the plans.
Analyse the market trends
Pick the right customer base
Keep the pricing strategy competitive

SALES FORECAST
The following is the business projection for Dr. Pauline Eye Care
Clinic,
First Financial Year: AUD 50,000 (Payment from Patients from their
own pocket): AUD 100,000 (Payment from Private Health Insurance
Companies)
Second Financial Year: AUD 100,000 (Payment from Patients from
their own pocket): AUD 150,000 (Payment from Private Health
Insurance Companies)
Third Financial Year: AUD 150,000 (Payment from Patients from
their own pocket): AUD 300,000 (Payment from Private Health
Insurance Companies) (Niland, 2011)

INDUSTRY ANALYSIS
Optometry business give total incomes of $12 billion per year and
utilize 85,000 individuals as workforce.
There are around 10,000 privately owned optometry clinics in the
Australia
With the old population becoming quicker than other age
segments, industry administrators are relied upon to profit over the
five years to 2024

TARGET SEGMENT
Our clients can be sorted into the below mentioned categories;
The occupants inside the zone where our eye care clinic is situated
Corporate associations, for example, banks, insurance agencies,
producing organizations, etc(Sandy, 2009)
Primary and secondary Schools
Organizations in Health Management

COMPETITOR ANALYSIS
Lot of competitors are available in the market, so entry barriers are
very high
Our business have extraordinary closeness to primary markets and
it can boast upkeep of mind blowing customer relations.
Pricing is tough in the perfect competition markets, so rendering
discounts will help us to get more customers.

FINANCE
Projected cost of starting up optometry business
Initial payment and deposits $25,000
Working Capital $45,000
Improvements in leaseholds $20,000
Security deposits $2,500
Inventory costs $12,500
Vehicle buying costs $20,000
Budget for marketing $15,000
Miscellaneous costs $5,000
Total costs for setting up business $1,50,000

PROFIT AND LOSS STATEMENT FOR
FIRST THREE YEARS
Financial Year 1st 2nd 3rd
Sales 755,491 714,266 778,550
COGS 65, 879 72,835 73,897
value of Gross
Margin
- - -
Operating Income 547,89 634,894 701,989
Expenses
Salary 242,145 249,897 273,712
Administration 14,400 14,465 14,986
Marketing costs 13,193 15,241 15,976
Licensing costs 25,023 26,749 27,534
Insurance
premium Costs
7,503 7,779 8,478
Travel and Vehicle
Costs
14,000 17,610 19,249
Utilities 17,500 18,375 18,387
Miscellaneous
Costs
4,826 5,478 5,338
Taxes 37,567 38,634 43,068
Total operating
Costs
356567 389 545 433 679
EBITDA 223344 262264 284836
Govt. Income Tax 70,038 78.862 96,468
State lncome Tax 12,523 12,839 13,347
lnterest costs 13,107 13,1278 13,221
Depreciation costs 5,893 5,893 5,784
Net Profit 112.586 148 165 274 220
Profit Margin 16.28 % 19.45 % 20.89%

EQUITY SHARE
Investor Equity
Dr. Pauline should not encourage an equity investment from any
other investor or involve any third party.
Management Equity
Dr. Pauline should go owning a complete ownership in the business
in Sydney.

REFERENCES
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Trends, 1(2), pp.21-30.
Chawla, K. (2015). Business planning essentials: preparing a business plan. Journal of Advances in Business
Management, 1(3), pp.93-99.
COCKERHAM, D. (2010). The name is optometrist. Clinical and Experimental Optometry, 52(10), pp.318-318.
Du Plessis, P., Strydom, J. and Jooste, C. (2012). Marketing management. 3rd ed. Cape Town: Juta, pp.30-35.
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REFERENCES
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Moodley, V., Loughman, J. and Naidoo, K. (2015). Recruitment and selection strategies in
optometric education towards addressing human resource disparities in sub-Saharan Africa. Africa
Education Review, 12(3), pp.429-446.
Niland, P. (2011). Reforming private pension plan administration. Business Horizons, 19(1), pp.25-
35.
Pandey, I. (2015). Financial management. 2nd ed. New Delhi: Vikas Publishing House PVT LTD,
pp.1-20.
Sandy, W. (2009). Link Your Business Plan to a Performance Plan. Journal of Business Strategy,
11(6), pp.4-8.
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