Beratung für Optiker-Praxen: Warum der Preis zu niedrig ist

0:00Unternehmer/Gast We have a firm where we make optometrists richer. So >> You make optometrists richer. >> Yeah. >> Okay, got it. >> they're qualified clinically, they buy a practice, they don't know how to run the practice, and then run out of money, and then gets us to fix it. >> Yeah. >> Um we're doing just shy of a million revenue with an EBITDA of about 58% something like that at the moment. So we're >> So good margins. >> Very good margins. >> Yeah.

0:25>> Um we'd like to double it. What's stopping me? >> Is >> We've Ah, now, this is what's stopping me. Well, one of our biggest constraints is an over-reliance on two two different sources of new customers, which are manufacturers of lenses >> Okay. >> who send us their customers because we make them sell more lenses, and they pay our fees. >> Great. You mean the manufacturer pays your fees?

0:53>> Yeah. >> [laughter] >> Interesting. >> And then after a while, the client starts paying us instead. >> The average client spends about 7,000 pounds a year with us. >> Oh, wow. >> And that's the thing. What's stopping me? Partly my nerve to not double my fees up enough. >> Yeah, I mean, you should be charging like 45. >> Yeah, exactly. >> Yeah. I mean, it's like, if you're cheap enough that the manufacturer's covering it, then you are so wildly undercharging. It's like Think about it this way. They're able to make the $7,000 back at their wholesale margin based on what these guys are selling at retail margins.

1:26>> Oh, yeah, we increase our sales on average by 24%. >> Yeah. And so what's that in What's that in absolute terms? So what is the average person making? What is the average increase in absolute terms? So 24% is relative. What's the absolute? >> I don't know that details. That's the lens suppliers selling 24% more lenses. >> Got it. Okay, so what is it Okay, let me ask differently. So the optometrists, what do they make in revenue when you start, and what do they make after you're done doing your magic?

1:52Alex >> On average in revenue It's hard to say cuz it varies so much from one to one. I can't tell you a decent >> Ballpark. >> Ballpark. >> Otherwise I'm going to say do you have kids and then we're going to have to take them away. It's my whole >> All right, okay. So Ballparking year one will probably put 50,000 on their bottom line. >> Bottom line. >> We chase bottom line. We're not that bothered. >> No, that's fine. Yeah, okay, cool. So if you're if you're only adding 50, then I would say 15-ish is probably the better amount to charge.

2:20Alex >> Yeah. >> If the manufacturer is willing to pay seven, then I would say like maybe they need to pay you 15 so you get it both sides. >> Yeah. >> That would get you from seven to more than seven. 22. >> Yeah. >> Um but I think that right now I'd be thinking more around So you have the manufacturers who send you business. What's the other source? >> A lot of word of mouth. >> Word of mouth, okay. >> Yeah. Um and standing on conference stages and stealing the show.

2:48>> Yeah. So do you um So what do you teach them? The optometrists. Just the sales process? >> No, we have a diagnostic tool which goes through the whole business from how they acquire customers to how they make their bottom line. >> Right. Do you Do you run ads for them? You show them how to run ads? You do Google Ads, PPC? >> Yeah, we do. Yeah. >> You run it for them? >> No, we give them the assets and we tell them to run it. >> Okay. Um and then you refer them to like an agency or something?

3:14>> We don't We just give them a guide and say go do this. >> Okay. >> And that was going to be one of my other questions if I had time was how do you get non-compliant clients to actually do the work they should do. >> Charge them is a great way to start. For real, it's like it's $7,000 is it's like nothing. >> Yeah. >> It's like free. >> Yeah. Do it that way. >> Yeah. So the here So I'll tell you this. When you said I work with optometrists, immediately, I don't know if you could see it, but my eyes went like dollar signs, dollar signs. I don't know if you saw it. Um but you have Do you do any US or is it all

3:46Alex >> Well, that's also part of the question because we've got people in the US and Canada phoning us in England now and we haven't tried to track them, but we have clients over here as well now. So, the question is, do we grow just by going abroad? >> I mean, yes, I would accept money from people who speak English, for sure. We're very happy with that. So, I would do that. Um I would probably I The here's The here's the thing that's beautiful about your specific avatar is that they are They are an avatar that gets is super credit worthy.

4:18Alex So, they get lending really easily and they're used to spending a [ __ ] load of money on things that they don't make money from immediately. They've already been trained for their entire careers to just continue to take loans. And so, for your business, like you could very easily be charging Like cuz the only thing I don't like is they're only making $50,000 in net profit on average per per optometrist. Like I wonder, is there a way that like if you had to, you could get it like 150? Could you like really juice it? Yeah, cuz I'd rather like I think the right price point for what you're looking for is like 35 to 45 is probably where it should be. Um and so, I'll probably do that as like an upfront full, you know, we fix the whole business and then the back end would be like a 10 15,000 dollars a year for like ongoing discounts for the manufacturers that you already have. Cuz like the best long-term continuity for a business like yours is going to be basically like a discounts association. Because once cuz they all buy the same stuff. They buy the the you know, they buy the lenses, they buy the frames, they buy the displays. They have the same stuff gets used over and over again. And so, if you can negotiate in bulk for all of them, and if they spend, you know, if they save, you know, 10 20,000 dollars a year, with discounts, even if you go dollar for dollar, so let's say they save 10 and you cost 10, they get all the services for free. And so, it just feels like completely free. So, I would go one-time pop up front, do all the heavy lifting, fix the business, and the continuity is more like association discounts bulk buying. And then the long-term move would be like, how do we get them all under one flag so we can roll them up and sell for like a gazillion dollars? That's the That's the real play. But, do this first.

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