David Clulow opts for joint venture business

David Clulow Opticians is opening its first joint venture practice in north London's Crouch End later in the month. This comes four weeks after the opening of a company-owned store in the City's Cornhill area, the first optical practice after its Selfridges outlet to use the firm's new orange livery. The company has opened franchise practices in the past, but Richard Peck, managing director of David Clulow Opticians, said: 'In future it will be joint ventures, having decided earlier to have them where we were not able to open a standard store.' As well as Crouch End, the company is set to open four more practices, all of which would be considered as joint ventures and two of which would definitely be, said Peck. 'We are very confident about the first joint venture. Essentially, they are easier for the partner to get into, with less financial risk, and gives us opportunities in areas where the multiples don't exist. 'It has been proven many times that businesses are more successful when there is an owner-operator.' Crouch End, with a mixture of established businesses and modern trendy shops, was a difficult area in which to find premises. 'That's a good sign and it's good to get into up and coming areas so you are in a strong position when the area takes off,' said Peck. 'We were the first opticians at Canary Wharf, when people said we were mad. Now we have two practices there.' Discussing the new practice at Cornhill, close to the Lloyds building, he said, 'It's an area of the City we wanted to get into for some time. It's a great site on the corner and really stands out and has been trading very well since we opened.' He added that there were still lots of opportunities to open practices in London. 'We have great brand recognition and a strong customer base here.' While sales of sunglasses across the business were down, because of the unpredictable weather, on the optical side the company was having 'a really good year'. 'We have worked on the basics, for example the product and lens mix, our central laboratory and our people,' pointed out Peck. rory.broganrbi.co.uk