Eye Care Business Canada

The Handwritten Envelope Isn’t Always hat it Seems

Hand written letter ROI Corp article 2025

A professional awareness bulletin for practice owners navigating unsolicited purchase offers

A Personal and Confidential Envelope Arrives at your office.
It’s addressed to you, handwritten in blue ink.
A real stamp is affixed, not a machine-generated indicia.

Your receptionist, respecting the “Personal and Confidential” note, leaves it untouched.
It sits on your desk. Unopened. Days pass.

Eventually, you open it… and to your surprise, it’s not a complaint or concern.
It’s someone offering to buy your optometry practice.

You don’t know them. The letter is unsolicited. But it feels sincere.

Here’s the Reality:
These letters are increasing in frequency and sophistication.

Many of my clients share them during the appraisal process, believing they’ve landed the perfect buyer.

They’re excited. Yet behind the scenes, these letters are often mass-produced.
Generated by software, stuffed by students, and mailed with AI-generated envelopes to mimic authenticity.

Why It Matters:
There’s a new generation of buyers.
They’re savvy. Strategic and often, aggressive in their approach.
They research you online.

They profile you based on your graduation year or website and social media photos.
They visit your clinic as phantom patients—or send family members in for eye exams.
They gather intel on your policies, procedures, and even take photos of your space.
If you think this isn’t happening, think again.

The Motivation Behind the Letters:
These buyers aren’t looking to start from scratch.

They don’t want to associate, break even in 3–5 years, or join a corporate chain.
They want ownership. They want your practice.

And they’ll use every tool—digital or deceptive—to get it.

What Should You Do When You Get One?
1. Don’t be flattered too quickly.
2. Don’t reply in haste.
3. And certainly, don’t share sensitive information.

If you receive a letter like this, feel free to text us a photo at (416) 520-7420.
I’ll let you know if it’s a genuine opportunity—or just another well-dressed solicitation.

Protect Your Practice. Know Your Value.
Before making any decisions, get a professional valuation.
Empirical data gives you leverage—whether you work with a broker or not.

And remember:
The most dangerous buyer is the one who knows more about your practice than you do.

Have you received unsolicited letters? CLICK HERE – 10 second survey

JACKIE JOACHIM

Jackie has 30 years of experience in the industry as a former banker and now the Chief Operating Officer of ROI Corporation. Please contact her at Jackie.joachim@roicorp.com or 1-844-764-2020.

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Episode 15: Revenue RX Competition – A Survival Instinct

Practice, Revenue RX

Business is a battleground, and every day, you’re either winning—or retreating. In this no-holds-barred episode of Revenue RX: Optical Retail Wins, we uncover the reality of competition in optical retail, and how to harness it as a tool for survival, growth, and domination.

Forget comfort zones. Whether you’re facing big-box chains, online juggernauts, or the practice down the block, competition isn’t something to fear—it’s a force to be understood, respected, and ultimately, leveraged.

If you’re ready to compete smarter, protect your customer base, and push your business forward, this episode is for you.

Why You Must Compete—Every. Single. Day.

Let’s be clear: competition isn’t a threat—it’s a biological instinct. It drives improvement, innovation, and adaptation. The alternative? Complacency, decline, and irrelevance.

You’re not just competing on price or product—you’re competing on:
✔️ Customer experience
✔️ Convenience and location
✔️ Online visibility
✔️ Brand awareness
✔️ Reputation and service

Don’t sit back and hope your loyal customers stick around. Your competitors are coming after them, and if you’re not evolving—you’re losing.

Stop Reacting. Start Competing.

Being proactive beats being reactive—every time. You must move from survival mode to strategic competition.

✔️ Don’t wait to get undercut on price—double down on value.
✔️ Don’t wait to lose walk-ins to newer shops—own the corner with bold signage, in-store experience, and community engagement.
✔️ Don’t sit back while others build brand equity—you are the brand!

Change is the price of survival. And if you’re not willing to change, you’re not willing to compete.

How I Went on the Offensive

With 9 optical stores within 4 blocks, I couldn’t afford to be passive. I launched an aggressive marketing campaign using:
✔️ Bus shelter ads right outside my competitors’ stores
✔️ Cross-promotions with neighbouring businesses
✔️ In-store initiatives that created memorable experiences

I trained a lean but powerful team, focused on attitude over experience, and gave them the tools to outperform—and outcare—any competition. The result? Increased revenue, repeat business, and a growing customer base that chose us on purpose.

Understanding Your Competition: A SWOT Analysis

Competing blindly is a losing game. That’s where a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) becomes your secret weapon.

STRENGTHS

✔️ Personal service that big-box stores can’t match
✔️ Deep product knowledge & niche brand offerings
✔️ Community trust and local reputation
✔️ Flexibility to pivot quickly to customer needs

WEAKNESSES

✔️ Limited marketing budgets
✔️ Smaller inventory due to lower buying power
✔️ Dependence on walk-in traffic
✔️ Less access to high-end equipment

OPPORTUNITIES

✔️ Growing demand for eyewear due to screen time and aging population
✔️ Online presence and digital marketing (affordable and scalable)
✔️ Cross-promotions with schools, seniors, clinics, coffee shops
✔️ Value-added services like hearing screenings or high-tech fitting tools

THREATS

✔️ Online retailers and big chains with lower prices
✔️ Economic downturns reducing discretionary spending
✔️ Rising rent and overhead
✔️ Negative online reviews
✔️ Staffing shortages and high turnover

Your job? Figure out what you can control—and get to work on it. Change what you can. Accept what you can’t. And have the wisdom to know the difference.

Be the Store Worth Competing Against

✔️ Differentiate yourself—find what makes you stand out and amplify it.
✔️ Train your team like champions—attitude, empathy, and hustle win the game.
✔️ Promote visibility—not just online, but on the street.
✔️ Offer value, not just discounts—show your customers that price is only part of the story.

You’re not just selling eyewear—you’re selling trust, image, expertise, and experience. That’s your competitive edge.

Final Thoughts: Win the Day

If you’re not competing, you’re retreating. If you’re standing still, you’re falling behind.

In this episode, I break down:
✔️ What competition really means for independent ECPs
✔️ How to proactively outsmart your competitors
✔️ A practical SWOT framework to evaluate and grow your business
✔️ Why change, time, and attitude are the key tools in your survival kit

Competition is not the enemy. It’s the fire that forges better businesses.

Strap in. Look in the mirror. Decide: Are you going to win the day?

If the answer is yes, then this episode is the one you need to hear. And next time, we’ll dive into why optometrists sometimes struggle with entrepreneurship—and how to overcome it.

Joseph Mireault

Joseph Mireault, Optical Entrepreneur, Business Coach, and Published Author.

Joseph was the owner and president at Tru-Valu Optical and EyeWorx for 16 years. During his tenure, he consistently generated a sustainable $500K in annual gross revenue from the dispensary.

He now focuses on the Optical industry, and as a serial entrepreneur brings extensive experience from a variety of different ventures.

Joseph is also a Certified FocalPoint Business Coach and looks to work directly with ECPs in achieving their goals.

Through his current endeavour, the (Revenue RX, Optical Retail Wins podcast) he shares the challenges and solutions of running an Optical business.

His insights are shared with optical business owners aspiring for greater success in his new book, “An Entrepreneur’s Eye Care Odyssey: The Path to Optical Retail Success.”

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Insurance Meets Investing: A Smart Strategy for Financial Growth

Building Wealth, Finance|Wealth

Roxanne article May-June Optik and ECBC Insurance Meets Investing

As an optometrist, your focus is likely on growing your practice, advancing your career and ensuring your financial security. Have you considered how life insurance can do more than just protect your loved ones in the event of your passing? When used strategically, permanent life insurance can also become a powerful tool for building wealth and supporting your long-term financial goals.

Beyond Protection: How Life Insurance Can Build Cash Value

At its core, life insurance is designed to provide financial security for your loved ones after you’re gone. Permanent life insurance (such as Whole Life or Universal Life policies) also offer a cash value component that can grow over time. This cash value can further accumulate through additional deposits made beyond the basic premiums used to cover the cost of insurance. As an added perk, this growth is tax-deferred.

Tax Advantages: Maximize Your Earnings

One of the most powerful features of permanent life insurance is its tax benefits.

The death benefit proceeds are tax-free to your beneficiaries, ensuring that your family receives the full value of the policy.

For optometrists who own their practice, the majority of the proceeds from a corporate-owned life insurance policy flows into the notional Capital Dividend Account, allowing for tax-free capital dividends to be declared to the shareholders.

Additionally, the cash value grows tax-deferred and permits you access to these funds during your lifetime, often without immediate tax consequences, which can be a valuable option if you’re in a higher tax bracket.

Accessing the Cash Value of your Permanent Life Insurance Policy

Policy Loans: A key advantage of permanent life insurance is the ability to borrow against the cash value of your policy. These policy loans don’t require credit approval, making them an attractive option for optometrists seeking funding for personal or business needs, including a partner retirement buy back.
Collateral Loans: Up to 90% of the cash value of the policy can be used as collateral with special lenders. These loans often offer more flexible terms than traditional loans, making this a great option to support cash needs.
Withdrawals: If you prefer not to borrow, you can also withdraw cash from your policy. Unlike loans, withdrawals can trigger a taxable gain that hits your bottom line with a 100% inclusion rate. Withdrawals also reduce the total death benefit and growth potential of your policy.

Investing Within Your Insurance Policy: A Smart Way to Grow Wealth

Many optometrists are already familiar with investment options like stocks, bonds, and mutual funds. Did you know you can also invest within your life insurance policy?

With a Universal Life policy, you can allocate your policy’s cash value into investment options such as money market funds or mutual funds, which can offer higher returns than the dividend rates offered with traditional Participating Whole Life policies.

The flexibility to tailor your investments to suit your risk tolerance and financial goals within a Universal Life policy will appeal to those who like to take a more active role with their investments.

These growth opportunities are a great option to further diversify your overall wealth creation strategy with the stability of life insurance as part of your portfolio.

Supplementing Retirement: Build a Safety Net for Your Future

As an optometrist, retirement might feel like a distant goal while you’re focused on growing your practice and family life. However, the cash value accumulated in your permanent life insurance policy can be accessed in the future to supplement your retirement income, giving you an extra layer of financial security.

This can be particularly beneficial if you’ve maxed out other retirement accounts or want additional flexibility in how you draw income. Remember, flexibility is key when managing your taxable income in retirement.

Estate Planning: Preserve Your Legacy

As you build your optometry practice and personal assets, a well-structured life insurance policy can help ensure that your loved ones aren’t burdened with excessive estate taxes or an urgent need to liquidate assets.

For those with business partners, life insurance is a much more cash effective means to buy out the deceased’s portion of the practice compared to securing bank funding or paying the estate out of profits.

Conclusion: Secure Your Future with Smart Insurance Planning

Permanent life insurance is more than just an estate tool—it’s an investment strategy that can help you grow wealth, reduce taxes, and plan for the future. By leveraging the cash value, taking advantage of tax benefits, and using policy loans or withdrawals, you can create a robust financial plan that supports both your personal and professional goals.

Remember, life insurance is a long-term commitment. Be sure to work with a financial advisor who understands your needs as an optometrist and can help you design a coverage strategy that fits into your broader financial strategy.

Unsure how permanent life insurance can work for you or your practice? Reach out to Roxanne via email at roxanne@c3wealthadvisors.ca or call 780-261-3098 to arrange a conversation.

Roxanne Arnal is a Certified Financial Planner®, former Optometrist, Professional Corporation President, and practice owner. She is dedicated to Empowering You & Your Wealth through smart financial decisions that bring more joy and laughter to your life.

These articles are for information purposes only and are not a replacement for personal financial and tax planning. Individual circumstances and needs vary. Errors and Omissions exempt.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Roxanne splits EWO podcast hosting duties with Dr. Glen Chiasson.

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Far from the City, Close to the Work: What Two Optometrists Discovered Going Rural

Two Roads to Rural Practice

When Dr. Mindy Blumberg began her career, she imagined serving remote Indigenous communities through mobile eye clinics. But when the pandemic halted travel, she reconsidered. In 2020, she opened Sea To Sky Optometry in Pemberton, a mountain town in British Columbia that had never had an optometrist. A second clinic in Lillooet followed.

“For me, practicing in a rural setting means offering essential eye care where it was previously unavailable,” she said. “And I love the absence of traffic, the mountains—how life feels here.”

Dr. Darren Wagner arrived at rural optometry from a different path. Raised in northern Alberta, he always saw small-town life as a foundation, not a frontier. Today, he co-runs For Sight Vision Centre in Brooks, a city of about 15,000, southeast of Calgary.

“I knew rural life wasn’t limiting,” he said. “It actually opens doors—to real community connection, recreation, and wealth creation.”

Their motivations differed, but their experiences converged: both found that practicing far from urban centers brought deeper relationships, broader clinical responsibilities, and a more grounded sense of purpose.

Knowing the Patient Beyond the Chart

That broader scope is part of what defines rural optometry. Instead of hyper-specialized care, rural optometrists take on a wide spectrum of clinical responsibilities: macular disease, urgent injuries, chronic complications, and everything in between. It’s a challenge—but also an education.

“In rural practice, you’ll manage complex cases, fit custom lenses, and even explore vision therapy,” says Dr. Blumberg. “Because sending a patient five hours away for these services isn’t always feasible. The experience you gain in a rural setting is invaluable for professional growth.”

That range of care often deepens relationships, too. For Dr. Wagner, understanding his patients’ needs isn’t just clinical—it’s personal. “My understanding of specific visual needs comes from the fact that I already know my patients as friends, colleagues, and students,” he says. “That context really matters. Let’s just say it’s raised my empathy.”

Staffing, Scale—and Why They Stay Anyway

With that breadth of responsibility come real-world hurdles. Experienced optometric assistants are hard to come by in smaller towns, and new hires often need to be trained from scratch. “You don’t always find experienced optometric assistants,” Dr. Blumberg noted.

Moreover, equipment costs can be harder to justify with a smaller patient base, and maintaining patient privacy in close-knit communities requires added care. Working without a dense referral network also means handling complex cases solo, which can feel isolating at times.

Still, the rewards outweigh the limitations. Dr. Wagner takes pride in having shaped a space that reflects both his approach and his patients’ needs. “My exam lanes are 21 feet long,” he said, laughing. “I can fit entire families.”

And while he charges slightly less than many urban clinics, that’s offset by lower overhead and long-term loyalty. “People are loyal,” he said. “They come back; they refer others. I’ve been able to invest in state-of-the-art equipment without the pressure of competition.”

No Clinic Is an Island

Although the geography is remote compared to major metropolises, neither doctor runs their practice alone. Both credit the OSI Group for its strategic and operational support.

Running an independent clinic in a small town comes with its share of solitude—but neither doctor works in a vacuum. Both point to OSI Group’s network of independent clinics as a source of connection, strategy, and support.

For Dr. Blumberg, that support has been hands-on. “Being in business can feel isolating,” she said. “But OSI gives us a community. Our practice advisor, Gissou, has visited in person and helped us optimize operations. The online modules are huge for staff.”

“They’ve shown up when it counts,” Dr. Wagner added, pointing to the data tools and benchmarking reports that help him stay competitive. “It’s not just services—it’s strategy.”

To optometry students weighing their career options, OSI Group offers the tools, training, and support to build the kind of independent practice Dr. Blumberg and Dr. Wagner have made their own.

To learn more, visit www.opto.com or contact OSI Group at info@opto.com

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Cut Down on CL Dropouts and Keep Patients Happy

Differentiation | Business Strategy, Practice, Products | Services | Industry News

New research highlights the role of every staff member in improving satisfaction and retention

A newly published article in Clinical & Refractive Optometry (CRO) Journal sheds light on a persistent issue in the eye care profession—contact lens dropout. Despite advances in lens technology and patient education, nearly one in four new contact lens wearers discontinue use within their first year. The study, commissioned by the Contact Lens Institute and conducted by Prodege, surveyed 401 adults to identify factors that influence whether patients stick with—or give up on—contact lenses.

This peer-reviewed article, authored by Dr. Shalu Pal, is also available as a 1-hour accredited CE course at CROJournal.com, the online education platform from CRO Journal.

Satisfaction Gaps: A Call to Action

The study revealed a significant 19-point satisfaction gap between new wearers (67%) and long-term users (86%). This signals an opportunity for clinics to enhance the early experience of contact lens patients, with comfort, visual quality, and convenience emerging as key drivers of satisfaction.

On the flip side, dissatisfaction stemmed largely from cost, handling difficulties, and visual discomfort—factors that new wearers were particularly sensitive to.

The Power of the Entire Practice Team

One of the most compelling findings is the influence of the whole eye care team—not just the optometrist—on new wearers’ decisions to continue with lenses. From administrative staff to technicians and opticians, every interaction mattered.

In fact, 74% of new wearers said their eye doctor played a significant role in their decision to stick with contact lenses, compared to just 59% of long-term wearers. Opticians, optical staff, and front-desk teams were also seen as more influential by newer patients, reinforcing the importance of a team-based approach to patient care.

Targeted Strategies for Retention

The study outlines several actionable steps practices can take to reduce Contact Lens dropout:

Cost Conversations: New wearers were especially receptive to clear explanations of pricing, alternative lens options, and rebate availability.
Handling Support: Quick in-person or virtual follow-ups, extra training sessions, and selecting lenses with better handling characteristics were all effective.
Comfort and Vision Concerns: Listening to concerns, offering reassurance, and scheduling proactive check-ins ranked among the most valued actions by patients.

Proactive communication and personalized education were identified as critical tools in retaining new wearers and boosting long-term satisfaction.

Compliance Trends and Lifestyle Fit

Interestingly, 74% of new wearers said they followed their provider’s lens replacement schedule, compared to 65% of long-term wearers—suggesting that ongoing reinforcement of healthy habits is essential over time.

The study also emphasized the importance of lifestyle-centered prescribing. Patients were more likely to continue lens use if they believed it improved their lifestyle—offering freedom from glasses, better comfort, and visual confidence. For example, individuals using screens extensively or engaging in sports may benefit from specific lens types tailored to their needs.

Practice Implications

This study challenges the notion that dropout is inevitable. With a coordinated effort across the entire practice team and strategies designed to proactively address patient concerns, clinics can make a tangible difference.

Dr. Pal encourages clinics to re-evaluate how they train and empower every staff member to play a role in retention. From first impressions at reception to post-exam follow-ups, small changes can yield big results in turning new wearers into lifelong contact lens patients.

Take the Course

For eye care professionals interested in diving deeper, the full article, Disrupting Contact Lens Dropout: Practice-Centered Factors That Influence Continued Wear, is available as a 1-hour COPE-accredited CE course at www.crojournal.com.

By turning insights into action, your practice can not only reduce dropout but also build stronger, more loyal patient relationships.

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Episode 09 – Thriving in Rural Optometry with Dr. Amal Ahmed

Future Focus Podcast, NextGenOD

In this episode, hosts Dr. Amrit Bilkhu and Dr. Alexa Hecht chat with Dr. Amal Ahmed, owner of Beaumont Eye Clinic, about her inspiring journey from associate to practice owner in a thriving rural community. From purchasing a 30-year-old practice in Beaumont, Alberta, to transforming it into a dry eye specialty hub, Dr. Ahmed shares practical tips for navigating practice acquisition and building trust in a small town. This lively discussion is packed with advice for students and new grads eyeing rural optometry or independent practice.

Episode Highlights:

Rainy Days, Big Dreams: Amrit and Alexa kick off with a fun chat about Alberta’s weather, setting the stage for Dr. Ahmed’s story of leaving Edmonton’s saturated market for Beaumont’s tight-knit community.
From UK to Rural Roots: Dr. Ahmed recounts her optometry training in the UK, her return to a competitive job market, and the serendipitous opportunity to buy a retiring OD’s practice.
Seizing the Moment: Learn how Dr. Ahmed turned a dated, 700-square-foot clinic into a modern practice with a three-week renovation, leveraging 30 years of patient records for instant trust.
Smooth Transitions: Discover the value of a year-long handover with the retiring OD, ensuring patient loyalty through personal introductions and shared values.
Rural Rewards: Explore the perks of rural practice—community support, multi-generational families, and collaboration with local MDs and pharmacists boosting medical eyecare demand.
Dry Eye Done Right: Dr. Ahmed shares her strategic approach to introducing dry eye services, from building trust to creating a waitlist for IPL treatments with a 75% conversion rate.
Growth Without Limits: Hear how word-of-mouth fueled a 4-5x growth in three years, leading to a new, larger location in a converted house—a unique rural opportunity.
Advice for New Grads: Start saving early, ask tough questions about ownership timelines, and build relationships with retiring ODs to unlock practice-buying opportunities.

Listen now to uncover how rural optometry, smart planning, and community investment can launch a rewarding career, whether you’re a student dreaming of ownership or a new grad exploring your path!

Special Guest:

Amal Ahmed, OD, owns Beaumont Eye Clinic in Beaumont, Alberta, a small city south of Edmonton. Trained in the UK and with 17 years in optometry, she purchased a 30-year-old practice in 2022, modernizing it with a focus on dry eye care. Passionate about rural practice, Dr. Ahmed is expanding to a new location and mentoring students to embrace independent optometry. To connect with Dr. Amal Ahmed for questions about rural practice or ownership, contact her via Instagram at @beaumon.eye.clinic or through Beaumont Eye Clinic’s website, beaumonteyeclinic.com.

Your Hosts:

Amrit Bilkhu, OD, FAAO, FOVDR
Dr. Amrit Bilkhu graduated from the Illinois College of Optometry in 2019 and completed a Vision Therapy & Rehabilitation residency program at UC Berkeley School of Optometry in 2020. She is a fellow of the American Academy of Optometry and the Optometrists in Vision Development and Rehabilitation. Dr. Bilkhu owns her private practice, Northern Sight Optometry, in Vaughan, Ontario. In her spare time, she serves as a board member for Vision Therapy Canada, writes articles for optometry blogs, and shares her knowledge on her professional social media page.
Alexa Hecht, OD
Dr. Alexa Hecht obtained her Doctor of Optometry from the University of Waterloo in 2021. She currently practices at Bayview Vision in Toronto, Canada, where she enjoys seeing patients of all ages and has a clinical interest in dry eye disease and ocular aesthetics. Dr. Hecht has a significant social media following on Instagram and TikTok, where she aims to educate the public about the importance of eye health and clean beauty habits. She is passionate about inspiring and mentoring the next generation of optometrists.

Future Focus is proudly sponsored by OSI Group.

Future Focus is proudly sponsored by OSI Group—an organization dedicated to helping independent optometrists thrive. Acting as your behind-the-scenes partner, OSI Group provides mentorship, education, enhanced buying power, and opportunities to connect with industry experts and peers. With a nationwide community and innovative initiatives, it equips you with the tools and confidence to stay competitive while maintaining autonomy and prioritizing patient care. Learn how OSI can support your success at www.opto.com.

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Episode 14: The Only Revenue Source – The Customer!

Practice, Revenue RX

Let’s get this straight—your optical retail business doesn’t run on frame sales or lens upgrades or even insurance billings. It runs on one thing: the customer.

In this episode of Revenue RX: Optical Retail Wins, I remind you of the simplest and most powerful truth in business: the customer is your only revenue source. And if that’s the case, then truly understanding your customer isn’t optional—it’s essential.

We go deep into the psychology, behaviour, and motivations of optical consumers to uncover how to connect, serve, and sell with impact. Whether you’re profiling your target demographic or improving your customer journey, this episode gives you the framework to turn browsers into buyers—and buyers into loyal advocates.

If You Don’t Understand People, You Don’t Understand Business

Business is about relationships, and relationships require understanding. You don’t have to agree with your customers—but you do need to empathize with them.

✔️ What motivates them to buy?
✔️ What are their pain points and needs?
✔️ How do they define value—and are you meeting that definition?

From emotional triggers to the search for convenience and trust, your success depends on your ability to walk in their shoes.

Profiling the Optical Customer

Let’s talk demographics. Baby Boomers—aged 60 to 80—are the wealthiest generation with the greatest disposable income.

✔️ Nearly 25% of the population is over 65.
✔️ They prefer brick-and-mortar shopping.
✔️ They care about price and proximity—not your branding.

Ignore this group at your peril. They are not just patients—they’re your rent payers.

But don’t forget younger adults and teens. From Gen Z to Millennials, they prioritize style, image, and self-expression, viewing eyewear as a fashion accessory. And they’re researching you online before they ever step into your store.

The Customer’s Journey: From Awareness to Advocacy

Understanding the customer means mapping out their buying process:

Awareness – They recognize they need glasses.
Consideration – They research online, ask around, and visit stores.
Evaluation – They compare brands, prices, and services.
Decision – They book an eye exam and select frames.
Purchase – The sale is made… but the journey isn’t over.
Post-Purchase – They come back for adjustments and judge the experience.
Experience – Their satisfaction determines whether they return—or refer.

If you’re only focusing on Step 5 (the transaction), you’re missing most of the opportunity.

Metrics Matter—Track What Drives Revenue

If the customer is your revenue source, you need to track how they interact with your business.

✔️ Are they new or returning?
✔️ What’s your conversion rate?
✔️ What percentage of sales come from premium lenses or multi-pair purchases?

These insights don’t just help you market smarter—they help you negotiate better with suppliers, train your staff more effectively, and tailor your service to the customer’s needs.

And don’t forget: multi-pair sales are directly tied to how well your team uncovers lifestyle needs—do they ask about work, hobbies, light sensitivity, or Zoom meetings?

Understanding the Optical Buyer’s Mindset

It’s not just about prescriptions. People buy glasses for image, emotion, and identity.

✔️ Glasses are associated with intelligence, professionalism, and trust.
✔️ Women often find men in glasses more attractive.
✔️ Black frames work universally.
✔️ Customers want frames that reflect who they are or who they want to be.

That’s why your staff should wear glasses—even if they don’t need them. With AR-coated clear lenses, you project knowledge, trust, and alignment with your product.

What Influences Optical Purchasing Decisions?

✔️ Information Seeking – Customers research UV protection, blue light, and coatings.
✔️ Purchase Type – Sunglasses and fashion eyewear can be impulse buys.
✔️ Service Expectations – They want expertise and clear, personalized advice.
✔️ Economic Pressure – Affordability matters. Offer financing where possible.
✔️ Post-Purchase Support – Repairs, follow-up calls, and fit adjustments build loyalty.

When you meet these expectations, you reduce friction and make it easy for the customer to say yes.

Final Thoughts: Get to Know Your Customer or Lose Them

If the customer is your only revenue source, then every decision—your pricing, your marketing, your staff training—must start with who they are and what they value.

In this episode, I break down:
✔️ The psychology and emotions that drive buying decisions
✔️ How to profile your customer based on lifestyle, age, and shopping habits
✔️ The full journey from need to satisfaction
✔️ What your staff must know and do to serve better
✔️ How to use behaviour and data to increase sales

Know your customer, and you’ll know when, why, and how they buy.

Tune in to Revenue RX: Optical Retail Wins and reframe how you approach your customers—not just as sales opportunities, but as the source of your business’s very survival.

And stay tuned for the next episode where we’ll tackle the one thing that keeps every business sharp: Competition. What does it really mean to compete—and how can you do it better than ever before?

Joseph Mireault

Joseph Mireault, Optical Entrepreneur, Business Coach, and Published Author.

Joseph was the owner and president at Tru-Valu Optical and EyeWorx for 16 years. During his tenure, he consistently generated a sustainable $500K in annual gross revenue from the dispensary.

He now focuses on the Optical industry, and as a serial entrepreneur brings extensive experience from a variety of different ventures.

Joseph is also a Certified FocalPoint Business Coach and looks to work directly with ECPs in achieving their goals.

Through his current endeavour, the (Revenue RX, Optical Retail Wins podcast) he shares the challenges and solutions of running an Optical business.

His insights are shared with optical business owners aspiring for greater success in his new book, “An Entrepreneur’s Eye Care Odyssey: The Path to Optical Retail Success.”

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Budgeting for Success: Financial Strategies for Full-Scope Optometric Practices

Independent SightLines

Budgeting isn’t always a welcome topic—whether in family finances or in business operations. In a full-scope optometric practice, however, it is essential.

While most people agree it’s wise to live within your means, the idea of putting numbers to paper and tracking them often meets hesitation.

Why a Budget Matters

A well-structured budget provides greater control and visibility over a clinic’s financial health. Metrics such as revenue per patient, cost of goods sold (COGS), and operating expenses become easier to monitor, allowing for more informed and timely decisions.

Budgeting also identifies areas where spending can be optimized without compromising care standards.

In addition to enhancing day-to-day operations, a comprehensive budget supports strategic planning. Practice owners can evaluate the financial feasibility of new equipment purchases, expanding staff, or opening additional locations. Understanding financial capacity enables more confident and sustainable growth.

Effective budgeting also promotes healthier cash flow. By anticipating fluctuations in patient volume, timing of insurance reimbursements, and seasonal inventory needs, practice owners can avoid financial disruptions and maintain steady operations year-round.

Revenue Forecasting

Forecasting revenue begins with a review of historical data and patient visit patterns. Seasonal variations in patient flow, insurance reimbursement cycles, and optical retail trends should all be considered. Revenue projections should also account for optical sales performance and local market dynamics.

At our clinic, we further refine this process by forecasting income across each specialty service—such as Vision Therapy, Myopia Management, Dry Eye, AMD Wellness, and Low Vision. This segmented approach provides more granular insight into what’s driving growth and where to allocate resources.

Managing Expenses

A clear view of fixed and variable costs is critical to effective budgeting. Fixed costs—including rent, utilities, equipment leases, and base salaries—remain relatively stable. Variable expenses, such as supplies, commissions, and part-time staffing, fluctuate with patient volume and service demand. Operating costs, including marketing, continuing education, and office maintenance, should be monitored and adjusted as needed.

Technology investments, such as diagnostic equipment and cloud-based software subscriptions, also require strategic allocation within the budget. Ensuring these expenditures align with practice goals helps maximize their return on investment.

Inventory Oversight

Inventory management is a key area where budgeting and operational efficiency intersect.

Tracking frame and contact lens turnover rates helps avoid overstocking. Setting par levels for frequently used supplies can minimize waste. Monitoring expiry dates on perishable products—like diagnostic strips or eye drops—is essential for compliance and cost control.

Periodic reviews of product mix performance inform smarter purchasing decisions.

Setting Up and Monitoring a Budget

Creating an effective budget begins with setting realistic monthly revenue targets based on historical performance and growth goals. Expense categories should be clearly defined, and allocation limits set for each. Establishing a cash reserve can provide a buffer during slower periods. Investment priorities—such as new technology, staff training, or marketing—should be clearly outlined.

In our practice, budget performance is reviewed regularly. During weekly leadership meetings, we compare actual results with projections, identify discrepancies, and investigate the underlying causes. This allows us to adjust spending or recalibrate forecasts as needed. Ongoing market analysis ensures the budget remains responsive to industry changes.

Technology Tools

Modern practice management tools can simplify financial oversight. Software platforms for revenue tracking, inventory management, and electronic health records (EHR) analytics provide real-time insights. Cloud-based accounting systems help streamline financial reporting and budget monitoring.

Engaging the Team

Team engagement can improve budget adherence and efficiency. Sharing relevant financial goals and KPIs with staff fosters a culture of accountability. Providing basic financial literacy and performance training enables employees to better understand their role in achieving those targets. Incentive programs tied to budget milestones can further motivate the team.

Reviewing and Adapting

Regular financial reviews are essential. Monthly check-ins, quarterly assessments, and annual budget revisions help keep the financial plan on track. When needed, consulting with professional financial advisors can offer a fresh perspective and strengthen the budgeting process.

Risk Planning

An effective budget also incorporates risk management. Maintaining emergency funds, reviewing insurance coverage, and planning for equipment replacement are all essential. Budgeting with economic variability in mind ensures resilience during uncertain times.

Strategic budgeting is more than just expense tracking—it’s a foundation for operational stability and sustainable growth. By implementing these practices, optometric clinic owners can make better-informed decisions, optimize their resources, and continue delivering high-quality patient care.

A well-managed budget not only supports business performance, it enables visionaries in eyecare to lead with confidence in a competitive landscape.

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

As a serial entrepreneur, Trevor is constantly testing different patient care and business models at his various locations. Many of these have turned out to be quite successful, to the point where many of his colleagues have adopted them into their own practices. His latest project is the Optometry Unleashed podcast.

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Freedom, Growth, and Impact: Why More Optometrists Are Choosing Independence

Reclaiming Control: Why Corporate Models Fall Short

The former began his career within the corporate model. And while these settings provided structure, they also imposed rigid policies that distanced the Dr. Feltis from key decisions. He recalls, “There was a very noticeable difference with respect to freedom of choice that was felt by the doctors and staff. This affected efficiency, service, product quality and, most importantly, staff morale due to chronic frustrations.”

Dr. Joe Hoja, meanwhile, took a different route. Independent from the start, he’s experienced the rewards and the challenges of forging his own path from day one. For Hoja, it’s the sense of ownership and direct impact on patient care makes it all worthwhile. “I prefer to bet on myself,” he says.

Building Leadership—and Legacy—Through Independence

Raised on a grain farm, Dr. Feltis likens private practice to running a small business: “The harder and smarter you work, the more successful you can be. You get all the responsibilities and freedom of being in charge, and you can have a significant impact on how your business grows.”

For Dr. Hoja, leadership has always been central. “Leaders not only grow businesses, but they also grow people,” he says. “It has been my honour to foster growth in so many outstanding human beings. The human element is an underestimated benefit of growing your own practice.”

A Supportive and Collaborative Culture That Puts Patients First

Independence, they both emphasize, goes beyond ownership. It’s about creating a supportive and collaborative culture where patient relationships thrive. In corporate environments, efficiency and volume often overshadow the patient experience. In independent practices, the focus shifts back to connection—and innovation.

Dr. Feltis’s team took all staff and doctors to Disney World to experience what it feels like to receive “life-changing” service firsthand. “It’s hard to create those experiences if you haven’t experienced them yourself,” he says. “We have countless stories of our staff or doctors doing something for a patient that’s completely unrelated to optometry—just to leave an impact.”

Accelerating Clinical Innovation with Agility

Clinical innovation moves faster, too. Dr. Hoja cites his clinic’s focus on early diagnosis and advanced treatment for age-related macular degeneration. “Being an independent practice owner, I alone can make purchasing decisions,” he says. “We now have unique technology and treatment protocols giving patients the absolute best AMD outcomes.”

Investing in People, Building for the Future

Financially, independence brings significant long-term rewards. Growing from two to seven clinics, Dr. Feltis highlights the ability to build equity, purchase real estate, and reinvest in staff. “We’ve built a lot of equity in the business and purchased some of our buildings,” he says. “We can also compensate our staff very well, which has a significant impact on our culture and clinic atmosphere.” It’s this kind of reinvestment that builds loyalty while supporting long-term operational success and sustainable growth.

Dr. Hoja views it in even broader terms, “Growing a successful independent business is the greatest game ever played.”

Partnering for Success: The Power of Community

Still, independence does not mean isolation. Both doctors credit OSI Group as a crucial ally, offering business coaching, access to the Optosys EMR system, preferred supplier agreements, and a network of like-minded professionals. “Independence is somewhat of a misnomer. You don’t have to be alone,” Dr. Hoja says. “The OSI Group can be your partner in success. They do not have a hidden corporate agenda. Your success leads to theirs.”

Shaping the Future of Independent Optometry

Today, with the right support, independent practice offers optometrists a chance to lead, innovate, and optimize business operations while shaping the future of care on their own terms.

To learn more, visit www.opto.com or contact OSI Group at info@opto.com.

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Selling the Practice of the Dearly Departed

Buying-Selling A Practice, Practice

Our client developed a health condition about 10 years ago.

Prudently, she engaged us for an appraisal a few years back, and the initial plan was to sell her optometry practice to a family member and/or one of the senior associates.

Then her condition worsened rapidly, and she passed away before we had time to implement the full strategy.

After a respectable time had passed, for all concerned, the family member and the senior associate were reluctant to commit to the takeover. This surprised the widower because that was the intention they shared previously.

Unprepared for this disappointment, we had to re-evaluate the options as considerable time had now passed and the regulator was in the waiting with their guidelines governing the period that an estate can operate a practice.

Conclusion: It was time to go to the wide-open market and seek an arm’s-length buyer.

Anybody looking at the practice had serious concerns about why a family member, or a very senior and productive associate would not commit to the office, but we managed to get through all those accidental stigmas and eventually found a purchaser who was ready to proceed.

The Next Hurdle

Our client had started the process of incorporation and the required Section 85 Rollover, but that was not completed before she passed.

NOTE: A Section 85 rollover is a provision in the Canadian Income Tax Act that allows the transfer assets (like your optometry practice) into a corporation without immediately triggering a big tax bill on the increased value of the assets.

We had to do a lot of investigative research to see if it was legal for the estate to complete the transfer of an optometry practice to a fully formed corporation where the sole and only shareholder is deceased.

I cannot tell you how many consultations we had with accountants, lawyers, the College, and tax & legal experts in this regard.

A definite learning journey for myself and the others involved.

It was established that it was possible, with the sole purpose of allowing the estate to sell the optometry practice as qualifying shares and thus claiming the lifetime capital gains exemption that my dearly departed client was unable to realize.

And Then, Another Hurdle

The building had been sacrificed to a substantial development, and the arrangement that the planning department made with the developer was that in order to assemble a number of very expensive properties in the downtown core, this particular building would be part of the parcel but was to be sacrificed and become greenspace, therefore, it had to be demolished.

This was known many years in advance, so all the leases in the building contained the kiss of death – excuse me and pardon the tragic pun – which is the demolition clause.

So, who would want to buy a practice with the stigma of disinterested family members and associates and a landlord unwilling to give you more than a two-year term with the black cloud (a looming guillotine) in the form of a demolition clause with no clear end date?

Not me!

And to make matters worse, the property is managed by the City, and their approval process requires the navigation skills of a ship’s captain in a hurricane!

Honestly, you cannot even fathom the absurdity of the bureaucracy!

I would say this is the most complicated and convoluted file I have ever worked on, and I am very pleased to report that the estate has been paid in full by the purchaser, and the purchaser does have a nearby location, and their intention is to move the practice quite soon.

All the staff will keep their jobs.
All the associates will stay gainfully engaged.
And all the patients will be looked after.

It is a happy-ever-after ending, but not without a dramatic unfolding of circumstances and situations that I have never seen in my career.

What is your takeaway?

Check your corporate documents and make sure your corporation is in order right now.
Is your spouse or children a shareholder(s)? Are you sure about that?

Have a look at your will and make sure everything is in order. Make sure your will is executed and signed with copies kept with your trusted advisors.

And if you have a premises lease, have a good look at that right now.
If you do not want to do it, Realty Lease Consultants will do it for you. 1-877-216-1013

JACKIE JOACHIM

Jackie has 30 years of experience in the industry as a former banker and now the Chief Operating Officer of ROI Corporation. Please contact her at Jackie.joachim@roicorp.com or 1-844-764-2020.

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