Independent optician’s practises remain a large and growing part of the UK’s optical services industry (which is one of the most competitive in Europe), so it’s not surprising that many people are choosing to set up their own venture.

Optometry can be a rewarding and successful profession, but starting up your own practise requires a great deal of determination, hard work and discipline, so you can’t afford to be complacent.

Owning and running a successful opticians practise is an exciting challenge and there’s no better time to take it on than in the New Year. Follow our five top tips that could help get your practise off the ground.

1. Market research

For a start up optician, a great deal of market research has to be done to ensure that the proposed location for the practice is viable. Opticians often serve a certain locality so it’s necessary to research potential customers, the size of the catchment area, existing competitors, and current economic activity.

2. Insuring your business

Start-up opticians are at their most financially fragile during the first few years of practise. Setting up appropriate insurance as soon as you start doing business will limit your exposure to costly claims which could put you at risk of having to close down soon after getting off the ground.

Your opticians may benefit from types of cover including:

• Professional indemnity insurance
• Public liability
• Employers liability
• Business interruption
• Shop and Office Contents insurance
• Commercial legal protection

3. Support

Use the knowledge and experience of others around you to your advantage. While we don’t advise you to turn to a local competitor for advice, it’s a good idea to have a conversation with a trusted contact in the industry. Myers La Roche are an example of the help available. They can give you tips on how to succeed while warning you about potential pitfalls.

Once your practise is up and running, protecting your reputation and assets is an essential part of its success. We understand that every start up is different, so we endeavour to give specialist advice to ensure you have the right cover, individually tailored around your business.

When you use a specialist insurer like InFocus for your optician’s insurance, you can be assured that we’ll listen to your requirements and make sure you’re covered for the things that matter.

For specialist advice, call or email us to find out more.

Written by: admin