Specsavers Franchise An Opportunity for Entrepreneurs: Starting a business can be a daunting task, but with a franchise, you can benefit from the support and expertise of a well-established brand. One of the best-known franchises in the eye care sector is Specsavers. With over 30 years of experience and a reputation for quality, the Specsavers franchise offers a unique opportunity for entrepreneurs looking to enter the eye care market.
For entrepreneurs who are looking to start a business in the eye care sector, the Specsavers franchise is an attractive option. By becoming a franchisee, you will have access to Specsavers’ proven business model, established brand, and extensive range of products and services. You will also receive training and support from the company, so you can start your business with confidence.
One of the key benefits of the Specsavers franchise is that you will have access to a proven business model. The company has years of experience in the eye care sector and has developed a business model that works. By following this model, you can be confident that your business will be successful.
Another benefit of the Specsavers franchise is the established brand. The company has a strong reputation for quality and affordability, which is something that you can leverage as a franchisee. The Specsavers brand is well-known and respected, which will help you to attract customers and establish your business quickly.
The range of products and services offered by Specsavers is another advantage of the franchise. The company offers a comprehensive range of eye care products and services, including eye exams, contact lenses, glasses, and more. This means that you will have access to a wide range of products and services that you can offer to your customers.
Once you have completed the training and support program, you will be ready to open your Specsavers franchise. The company will provide you with ongoing support and training, so you can continue to develop your business and grow your customer base.
In conclusion, the Specsavers franchise is a unique opportunity for entrepreneurs who are looking to start a business in the eye care sector. With a proven business model, established brand, and comprehensive range of products and services, the Specsavers franchise offers everything you need to be successful. If you’re ready to start a business in the eye care sector, consider the Specsavers franchise today.
DOES SPECSAVERS FRANCHISE?
Specsavers Does Not Offer Franchises in the UK, Instead, It Uses a Unique “Joint Venture Partnership” Model Specsavers, a well-known optical retailer, does not offer franchises in the United Kingdom. Instead, it operates through a unique “joint venture partnership” (JVP) model. Essentially, a joint venture partnership is an agreement between two or more companies or individuals (in this case, the store manager and Specsavers) for the purpose of a specific project or business activity. Both parties agree to work together and share the costs, profits, associated risks, and rewards of the business.
If you’re interested in owning a Specsavers branch or store, you’ll be the owner and director of your own company while enjoying expert support from Specsavers, ranging from marketing to wholesale sales. To be a manager, you must be an optometrist, a sales optician, an audiologist, or a retailer, as you will be responsible for building your own team and running your highly profitable business.
HISTORY OF SPECSAVERS
Specsavers, founded by husband and wife Doug and Mary Perkins in 1984, has grown tremendously from its humble beginnings. In 2017/2018, the company’s annual sales in the optical retail sector were 2.6 billion pounds. With 1,978 branches in the United Kingdom, Jersey, Ireland, Guernsey, Sweden, Norway, Denmark, Finland, the Netherlands, Australia, Spain, and New Zealand, the brand offers a range of eye care services, both private and under the NHS.
Over the years, Specsavers has expanded its services to include audiology services such as NHS hearing tests, earwax removal, hearing aid fittings, and support for hearing loss due to various causes. They even offer home visits for those with vision or hearing problems who are unable to leave their homes for testing.
Specsavers became one of the most well-known brands in England with its “Should’ve gone to Specsavers” advertisements, which were first published in 2003. Expand your presence to our shores.
STARTING A SPECSAVERS UNIT
If you choose to join with Specsavers JVP, you can do so as an optometrist, assistant (joint venture partner), or audiologist. As part of the partnership, you become an “A” shareholder, meaning you directly receive the profits, market-related salaries, and guarantees of a globally renowned retailer like Specsavers B shareholder. This means that you need to pay a certain percentage of your sales to Specsavers as a management fee and receive full support from the retailer.
Specsavers requires the following skills and qualities from its partners:
- Inspiring leadership (teams and organizational change)
- Commercial awareness
- Emotional intelligence
- The right attitude to start a potentially profitable partnership
- Excellent communication skills.
SPECSAVERS FRANCHISE FEES UK 2024
Specsavers Franchise Fees Uk You can become an audiology or expertise partner for as low as £6,000, however, opening your own optometry store will cost much more. Since every situation is unique, and the investment fee can only be determined after an online, telephone or face-to-face evaluation that determines if it is suitable for your business, Specsavers does not offer an estimate. And the type of operation you will carry out.
To become a Specsavers franchisee, you will need to invest in the franchise and follow the company’s training and support program. The investment required to start a Specsavers franchise varies, but it typically ranges from £200,000 to £350,000. This investment will cover the cost of setting up your store, buying inventory, and training.
The ideal investor
The requirements for being a Specsavers partner are not 100% clear, but one of their offices is already encouraging its employees to apply to their internal “Partner Academy”.
Having experience as a successful clinician or salesperson in your field is likely the best, but Specsavers suggests speaking with an existing partner to gain more information on what you can expect in return. Firstly, you should speak with the Specsavers partnership team who can give you more ideas about what they consider to be an ideal partner.
Note: This text has been translated from Turkish. If you need a more polished and idiomatic English version, please let me know and I will be happy to revise it for you.
For communication with the company and franchise application ➔ https://join.specsavers.com/uk/explore-careers/partnership-at-specsavers/
State of the market
According to the College of Optometrists in the UK, 74% of the UK population uses some form of prescription glasses or contact lenses to achieve 20/20 vision. Unsurprisingly, the optical industry is a massive one, generating an annual revenue of 4.4 billion pounds and employing over 62,600 people. The industry also recorded an annual growth rate of 1.5% between 2014 and 2019 (IBISworld.com).
Many optometrists derive the majority of their income from frame sales. Advances in technology have made frames lighter and more comfortable, and people are willing to pay more to make their glasses as comfortable as possible, expressing themselves every day. Even with a supplier like Specsavers, known for its affordable prices, the most expensive frame, without extra charges for special lenses, costs 169 pounds, not including the additional 100 pounds.
This means that those operating their own stores are ready to make a healthy income from the products they sell. Additionally, fashion trends and demand for unique frames and multiple pairs to match outfits have also increased. Considering this, it’s not surprising that the global eyewear industry is worth 74 billion pounds (The Guardian) and there has never been a better time to get involved and start your own eyewear franchise.
Specsavers Franchise Cost FAQ
Is Specsavers only in the UK?
Specsavers has a workforce of over 38,000 employees, including those who work in its support offices and supply chain, as well as in its 2,293 stores located in England, Ireland, the Netherlands, Norway, Sweden, Denmark, Finland, Spain, Australia, and New Zealand.
What are the requirements to become a Specsavers franchisee?
To become a Specsavers franchisee, you need to have a passion for delivering excellent customer service, experience in running a successful business, and the financial resources to meet the franchise cost and ongoing operational costs.
What support does Specsavers offer to its franchisees?
Specsavers provides its franchisees with comprehensive support, including site selection, store design and layout, equipment and technology, marketing and advertising, and ongoing training and development.
How long does it take to open a Specsavers franchise?
The timeline for opening a Specsavers franchise can vary depending on factors such as location, store size, and the availability of resources. However, on average, it takes about 18-24 months from the initial inquiry to the opening of the store.
What is the royalty fee for Specsavers franchisees?
The royalty fee for Specsavers franchisees is a percentage of the store’s gross revenue, which is negotiated on a case-by-case basis.
Can I own multiple Specsavers franchises?
Yes, Specsavers allows its franchisees to own multiple stores, subject to meeting certain criteria such as experience, financial resources, and operational capacity.
Is previous experience in the optical or hearing care industry required to become a Specsavers franchisee?
No, previous experience in the optical or hearing care industry is not required to become a Specsavers franchisee. However, business management experience and a passion for delivering excellent customer service are important qualities for prospective franchisees.
In this article, we answered all the necessary questions about Specsavers Franchise Cost.