Practice ownership is considered a career aim by many eye care professionals (ECPs). A survey conducted by Optician in 2021 found that 38% of respondents had considered practice ownership in some form of partnership with a chain, compared to 32% that were more interested in sole ownership. So, what are some of the options for partnerships and how can ECPs position themselves to achieve these roles?
‘We provide two business ownership options. The first is the full format franchise, being 100% owned by the franchisee and with just a 12.5% fee,’ says Ryan Leighton, CEO at Leightons Opticians & Hearing Care. ‘In addition, we also have a joint venture that works to provide existing business owners or motivated optometrists and dispensing opticians with a collaborative option. Both options provide the business owning optometrist or dispensing optician with all the back office support.’
In September 2022, OutsideClinic launched a new joint venture ownership structure. ‘The new opportunity means that optometrists can now combine a rewarding career where they deliver genuinely life-changing care with all the benefits that come from owning their own company alongside guaranteed client acquisition, comprehensive marketing support and ongoing business development as part of the package,’ says Paul Chapman-Hatchett, strategic partnership director at OutsideClinic. ‘Our partnerships offer optometrists the flexibility to manage their own day with the freedom to be out and about rather than tied in a testing room all the time.’
Famous for building its worldwide success on joint venture partnerships, Specsavers continues to offer opportunities in this area.
‘Whether it’s new stores opening, business transfers as partners retire or our expanding Home Visits domiciliary service, there is a range of rewarding ownership opportunities with Specsavers,’ says Alan Connelly, head of partner engagement - stores at Specsavers. ‘With our joint venture partnerships, our businesses are locally owned and led by their directors, which is usually an optometrist, a dispensing optician, audiologist or retailer. Partners are supported by key specialists in Specsavers support offices.’
Getting in poll position
Partnership ownership roles are obviously sought after and candidates may need to position themselves carefully to land that dream job.
‘Partners bring a broad range of skills,’ says Connelly. ‘We look for an ability to lead and energise teams with a focus on continual improvement to drive customer and colleague loyalty. Partners can also develop their skills with us through the incredible support network at Specsavers where we work collaboratively as a partnership to bring these ambitions to life.
‘We look for qualified optometrists or dispensing opticians, people who really want to make a difference in terms of the patient experience; that’s first on the list,’ says Leighton. ‘Then, of course, people that have the motivation and drive to run their own business, build a great team and deliver the highest levels of care. The best way to position for ownership is to be able to work with us, learn the culture and see this as a two-way learning opportunity.’
OutsideClinic’s joint venture partnership opportunities are only open to optometrists but while domiciliary experience is preferable, it is not essential. ‘We’re looking for ambitious, committed and patient-centred optometrists who are passionate about delivering excellent eye care to those people who most need our help,’ says Chapman-Hatchett. ‘We want to hear from those optometrists who are empathetic towards our patients and genuinely motivated by using all their clinical skills and knowledge to make a real difference.’
Meeting business demands
Martyn Thomas (pictured) is ophthalmic partner at Frome and Warminster Specsavers and clinical innovation lead for UK and ROI at Specsavers. He started out his Specsavers career as joint venture partner before selling up and purchasing the Frome and Warminster Specsavers practices.
‘To be a successful multi-practice owner, it is important that you afford each business your time and that you bring high value to each one when you’re there. Visibility to your teams is crucial for good relationships and builds the foundations to business success.
‘When I became a joint venture partner, Specsavers support staff were always on hand and regularly visited to help me alongside on-the-job learning. The joint venture partner process has since evolved, with Specsavers providing fantastic support.
‘For would-be joint venture partners, I’d say spend time with an existing one to understand what’s involved. Having completed an MBA, I know further qualifications can help you understand and address business demands you will encounter. Lastly, get a mentor - or two as is my case - to provide sage advice and steer you to a good place.’
Exploring aspirations
Alexy Jackson is an independent practice partner at Heals Opticians, a Hakim Group practice, which has two practices in Cockermouth and Workington in Cumbria. Aged 28, she has taken on the challenge of practice ownership early following a spell as a locum optometrist.
‘I previously worked at Heals after qualifying, but I wanted to experience different practices so became a locum but then Covid hit. When Hakim Group acquired Heals from the previous owner who was looking to retire, I was doing a couple of days there as a locum and I was approached to explore my aspirations for the future in terms of practice ownership.
‘I’m always looking to develop myself, so I decided to go for it. I never really thought it would be possible to do something like that so early in my career but the support network at Hakim Group is amazing and it has made owning an independent practice so much more accessible.
‘It’s obviously my first taste of management but I gained a Masters in Healthcare Leadership and Management from Sheffield University in 2020. There’s so much support available to you as an independent practice owner together with Hakim Group and it’s also nice to be able to have the confidence to make informed decisions based on what you’ve learnt personally.
‘It’s been a steep learning curve but hugely enjoyable and really rewarding. I’m using skills I’ve never used before. As an optometrist it’s always the ‘making a difference’ to a patient that stands out but as a partner you have so many more opportunities for job satisfaction.’
Owning a stake
Linda Marriott is a joint venture partner at OutsideClinic. She bought the Kent franchise of domiciliary eye care provider Care Opticians in 2019. In 2022, OutsideClinic acquired Care Opticians and its 12 regional franchises across England and Scotland.
‘As the UK’s leading provider of domiciliary eye care services, its patient-centred mission and values very much align with my own, and I jumped at the opportunity to convert my existing franchise into a joint venture partnership with the company. In common with the wide range of domiciliary career opportunities that OutsideClinic offers optometrists, I get to make a genuine, often life-changing, difference to the lives of those people who can’t get to the high street unaided by delivering brilliant eye care.
‘Where my role differs from an employed optometrist within the company is that as a joint venture partner, I get to own a stake in my own business. Not only do I get to build and run my own domiciliary practice, with more control over my clinics and how I acquire my own patients, but I’m also able to take advantage of OutsideClinic’s industry-leading support services such as finance, HR, IT and marketing. Their excellent support infrastructure takes a lot of the stress out of running my own business and means I’m able to focus on what I do best: making a real difference to patients’ lives through excellent eye care.’
