Study. At OPSM we like to celebrate our successful Franchise Partners and share the news! When asked Why OPSM?,

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1 A Case Study OPSM Franchise Partner Andrew Simpson At OPSM we like to celebrate our successful Franchise Partners and share the news! Andrew Simpson is a multi-site OPSM Franchise Partner. Both of his stores in NSW, Burwood and Hurstville, operate as full franchises in that Andrew operates the optometry and retail aspects of each business. Andrew is a great example of a passionate Franchise Partner taking over existing locations and lifting them to their true potential. He has achieved this by implementing his own style of people management and customer service which are both aligned to the OPSM brand and what it stands for. Andrew came from the other side having previously worked for the franchisor and has always found himself in people-facing, operational roles. He has previously worked at OPSM, Budget Eyewear, Crazy John s and Telstra, however it was at OPSM as NSW State Manager where he saw the potential in the OPSM franchise model. Whilst managing and coaching the network he thought I could be doing this! Andrew bought his first franchise in August 2013 and after seeing great results, he bought his second in November Andrew said, It s a high-margin business and I have rarely seen profits like this having worked in many other franchise businesses. I have had my eye on Hurstville since I started my due diligence for the Burwood store. Once I started trading, I knew I wanted to become a multi-site owner. In his first month of trade at Burwood he was up 49.5% in net like-for-like sales. He entered a business with a conversion rate of ~25% and weekly sales at ~20k. In just 2-3 months Andrew has managed to double the conversion rate and triple the weekly sales which are consistently between $55-60k. Andrew has implemented a local store marketing plan that utilises a number of different activities. Messaging is clear with a focus on gaining awareness and driving appointments through letterbox drops, local press and shopping centre advertising. These activities have been executed with the support of the Marketing team and have leveraged the brand campaigns funded by the Franchisor. Andrew believes consistency is key, you can t expect to get direct results form a one-off activity, if you do, it s a bonus. I am in the local press on a weekly basis and do other activity every 2-3 weeks, such as letterbox drops. I also get involved in the community and connect with other allied health professionals. When asked Why OPSM?, the answer was clear for Andrew: Strong, well-known brand Extensive and exclusive product offering Cutting edge technology in eye care Retail business combining an allied health clinical practice People. Dealing with people and being able to help them makes each day very gratifying Luxottica s own charity OneSight is truly admirable, and being able to contribute is a privilege The level of support Franchise Partners receive makes a difference Being at the coal face is what I enjoy and thrive on. I want to be on the floor with my team, this is where I get my energy and see the impact of helping customers with their eye health. I get a real kick out of coaching my staff and seeing our results at the end of each day. The OPSM Operations teams have been on the journey with Andrew and have seen his business go from strength to strength. From Franchise Operations, state teams and Marketing, it has been a joint effort to ensure Andrew s businesses function as efficiently as possible. Andrew said, The transition from a corporate store to a franchise store is complex however it has been made easier knowing who to go to and what I need to do to keep the business ticking over during this period, and ensure staff are impacted as little as possible. If you d like to learn more about Andrew s success or talk more about suitable options for you, please

2 NANDITA CHOWDHURY WE ASKED NANDITA ABOUT HER EXPERIENCE AS AN Why did you choose this franchise model? I was at the stage of my career where I was ready to take the next step. I wanted more responsibility and was ready to start my own business. Would you consider a multi-site or opening another store? Yes, it is definitely something that I am looking into. I have derived great satisfaction in owning my own business and would love to expand that business. For me it is important that my second business is close by so I can maintain control over both practices. How long have you been with the company and what is your OPSM story? I have been with Luxottica my entire professional career. I started with Budget Eyewear in 2001 as a student dispenser. After graduating, I moved around the business as a managing optom, regional relief manager and mentoring graduates before becoming a Franchise Partner in How do you feel about the field support you receive with OPSM? The on the ground support is fantastic. There is a real camaraderie throughout the network and everyone is willing to help out where they can. It s really assuring to know that if you are stuck, there is someone out there who is happy to help and support you. What advice would you give Franchise Partners considering joining? Be prepared to work hard and do your due diligence: understand your market, the growth potential and the numbers. If you could do it all again, would you? I wish that I had become a Franchise Partner earlier. Why OPSM? Luxottica has guided me through my career from my early days as a student to now as a Franchise Partner. It s a great company that has a fantastic culture that I have always felt a part of. Further to this, I love the product OPSM stock and our market leading retail brands. What are three reasons why you love being a OPSM Franchise Partner? 1. The financial rewards. 2. The job satisfaction I get from owning my own business. 3. Being part of a company that is so well known and the support and security that goes with that. What does it mean to you to have a well-recognised brand with competitive strength? The OPSM brand is great. It really helps having a well-recognised and loved brand in the market. Tell us about your business performance I am very happy with the financial performance of my business. I am about to put on another Optometrist to help with the demand and free up some of my time to further build my business. If you d like to learn more about Nandita s success or talk more about suitable options for you, please

3 ALLYSON & DARREN MCIVOR THE GRASS IS GREENER AT OPSM SOUTH PERTH GREENFIELD STORE We all dream of living and working close to home. For Perth optometrists Allyson and Darren McIvor they made it happen in the beautiful riverside suburb of South Perth. We spoke with Allyson about her experience starting a greenfield OPSM in South Perth and how she built her business through Local Store Marketing. Allyson and her Husband Darren are both optometrists and have extensive experience in the industry. Previously, Allyson was the licensee at Just Spectacles in Forest Lakes WA, which later became Laubman & Pank (Laubmand & Pank and OPSM are both owned by Luxottica). As South Perth residents for the past decade, Allyson could see a gap in the market that was a perfect fit for an OPSM store. Allyson s previous experience with Luxottica made the decision to go with OPSM easy. Allyson explained Both Darren and I knew OPSM was the right fit for the area. We were very impressed with the Franchise Model and OPSM s reputation. We were also attracted to OPSM s product range of well known and respected brands and focus on world leading eye care and technology. Allyson explained The tools available on OPSM s Local Store Marketing Portal made it very easy for us to execute on our marketing plan. We have easy access to everything we need including letter box flyers, press and online ads, posters and press releases. It really is a one stop shop for all of your marketing needs. Using the professionally designed marketing collateral made our local marketing much more effective. Allyson and Darren has been able to build in a short period of time a very successful and growing business. Their South Perth store exceeded targets by 15% in the first year, and is enjoying 15% year on year growth. We asked Allyson about her experience starting an OPSM greenfield store and her response was I would definitely do it again in a heartbeat, I love spending time with people and focusing on customer service, I get a lot of personal satisfaction from the business and I love having control over the store and the service that we provide our customers. The journey started when Darren and Allyson showed the OPSM Franchise Recruitment team their plans. The Franchise Recruitment team were very impressed with the business case and were right behind the proposal. Both parties completed their due diligence and an agreement was in place which enabled Darren and Allyson to proceed quickly when the right spot became available. Darren had his eye on the perfect location situated on the corner of the local shopping strip. Showing great initiative and drive to make their dream become a reality. Darren approached the owner and was able to secure the lease. Starting any new business requires a deliberate and strategic marketing effort to build awareness and attract new customers. Allyson and Darren s knowledge of the local market enabled them focus their marketing on two key areas: the first was to raise awareness of their store utilising local media outlets. The second area of focus was to utilise their network of family and friends in the community and build relationships with key community organisations. If you d like to learn more about Allyson and Darren s success or talk more about suitable options for you, please

4 BJORN RUSSELL WE ASKED BJORN ABOUT HIS EXPERIENCE AS AN OPSM FULL FRANCHISE PARTNER Why did you select the OPSM Full Franchise model? I had already reached my earning potential as a pure optometry licensee at Just Spectacles. I decided that I wanted the challenge and also the control of running both sides of the business, not just the clinical. What is your OPSM story? I have been with OPSM since 2009 when I became a Full Franchise Partner. I started working with Just Spectacles nine months after graduating from university as a licensee. After 11 years of frustration with not being able to control the dispensary side of the business, I decided I needed a new challenge and became an OPSM Full Franchise Partner. Why OPSM? I really identified with the OPSM brand. It is a brand that is all about quality in service and in patient care. I also loved the fact that both Luxottica and OPSM are such well established businesses; it gave me a real sense of security in my purchase. What has been your most rewarding moment with OPSM? There are many rewarding moments but I really enjoy building relationships with my patients. I have some patients that have been with me for years; including one couple who I have watched grow from when they were first dating, to university, to marriage and I now care for their two children s eyes. What is your greatest professional achievement? I am currently on the Optometry Association Board for WA and am in the midst of having a clinical paper published. But the greatest of all is that I have had three patients go on to study optometry interstate. What motivates your business success? There is an obvious financial reward, but I really enjoy building patient relationships as that provides me great personal satisfaction. Part of this comes from the diagnostic technology available as there is always something new to improve patient care. And all of these elements help me build a business that will be saleable in the future. What are three reasons why you love being an OPSM Franchise Partner? 1. The systems and structure are fantastic it s great having processes in place that make my life easier and free up my time for more important things. 2. I know I am increasing my earning potential. 3. Being part of a well-known, quality brand that sells the best brands. Do you enjoy being part of a large network? It is great to be a part of a group that is so well known and established. It gives you security and strength with the advantage of excellent public awareness. OPSM s product range? The OPSM product range is great being able to sell such well known, quality frames is an absolute pleasure. Do you manage a good lifestyle/work balance? It s fantastic. Luxottica provides a golden opportunity as an Optometrist as far as I m concerned I have an easy gig! Tell us about your business performance. I am extremely happy with how my store is trading and the customer feedback is always positive which is also very encouraging. What are your thoughts about Eyebiz? The high quality work that the Eyebiz lab generates is exceptional. It is nice to know that when you order a patient s glasses you are getting the highest quality frames with the exceptional workmanship of the Eyebiz lab. Another perk of being a OPSM Franchise Partner is that you reap the benefit of all the research and development that Eyebiz is always undertaking. How has OPSM s many Business to Business contracts worked for you? They have been a great alternate revenue stream for my business it s easy money. What about the Auto Replenishment process? This system has definitely made my life easier. What advice would you give Franchise Partners considering joining? I would say; why wouldn t you join? It is my belief that if you are a good Optometrist you will succeed in the OPSM model. If you could do it all again, would you? Definitely. If you d like to learn more about Bjorn s success or talk more about suitable options for you, please

5 BRYAN LEONG OPSM PROVIDE THE SYSTEMS AND SUPPORT TO TAKE YOUR BUSINESS TO THE NEXT LEVEL There are many benefits when you become an OPSM Franchise Partner. From the range of franchise options available, to the comprehensive support, award winning systems, procedures and training provided. We asked one of our Full Franchise Partners, Bryan Leong, to talk to us about his experience with OPSM s franchise models. Bryan Leong is the Full Franchise Partner at OPSM Noosa (living and working in Noosa is a great start). He joined the OPSM Franchise family in 2009 when he became the Optometry Franchise Partner at OPSM Caloundra. Bryan said The Optometry Franchise Partnership provided me with the experience, understanding and confidence in the OPSM business and the Franchise model to take the next step and become a Full Franchise partner. Bryan became a Full Franchise Partner in May 2014 and couldn t be happier about his decision, I am extremely happy with my decision, no regrets at all. he worked with OPSM s Franchise Recruitment team to review the options available. It was a collaborative process and we found a great solution, Bryan said. The team looked at the competitive landscape in Noosa and noticed that most of the competition was focused at the lower end of the market. Bryan decided to become the Full Franchise Partner at OPSM Noosa. To fully leverage OPSM s range of high quality and globally recognised eyewear brands and help Bryan s store leverage its unique position in the market Bryan decided to purchase a local independent optometrist and merge the existing OPSM into the new location. By bringing the two businesses together Bryan was able to leverage some outstanding synergies in terms of staff, customer experience, larger floor space and improved location. With the assistance of the team at OPSM we have been able to capitalise our new location and are on track to grow the business by over 120% this year, which is an amazing result, said Bryan. Some of the key benefits of OPSM s Franchise Model that Bryan feels are crucial to his business include the sophisticated operating systems such as stock auto replenishment, automated customer recalls and the online marketing portal. These automated systems enable Bryan to focus on growing his business rather than the day to day operations. As an OPSM Franchise Partner you can essentially walk into a business and start running it. The support I receive from OPSM s operations team is world class. If I were to compare the OPSM franchise model to running an independent optometry practice the OPSM franchise model is the clear winner. Said Bryan. Being part of OPSM provides Franchise Partners with access to experienced professionals that provide assistance with key disciplines like digital and direct marketing, visual merchandising, product selection and supply chain management. Bryan explained As the owner I am able to focus on the things that matter to me and my customers, I really enjoy having complete control of the end to end customer experience with a focus on providing the highest quality eye care and eyewear. Bryan was attracted to the OPSM brand and their marketing approach. OPSM s Marketing team produce globally recognised, award winning marketing campaigns that are executed on a national level, including targeted direct marketing to drive customers to your store. Bryan said My ideals perfectly matched OPSM s. It s not just about selling glasses; it s about looking after people s eyes and providing quality eye care. When Bryan discussed his desire to take on a Full Franchise with OPSM If you d like to learn more about Bryan s success or talk more about suitable options for you, please