How to buy eyewear for your practice
How to buy eyewear for your practice by Nathan S. Hill, ABO Speaker
Many individuals find purchasing eyewear for a practice challenging, and it's not uncommon to struggle with this skill. It takes years to master, and I'm here to guide you through the process. When buying for your practice, several factors need consideration. How many lines do you currently have? Do they cover all your practice's needs? Do you have too much inventory? How do you determine the quantity and variety to purchase? What role does a rep play, and how can they assist you? In this article, I'll address these questions and more.
A practice typically needs between 4 and 12 frame lines. Even with ample space, I recommend not exceeding this range. Here's a formula to help you determine the number of lines for your practice:
Small Practice - 4-5 lines
1-2 acetate heavy lines
1 metal line
1 artsy line
1 budget line that has a little of everything
Use those lines for sunglasses as well
Medium Practice - 7-8 lines
2-3 acetate heavy lines
2 metal lines
1 artsy line
1 budget line
1 sunglass line
Large Practice - 9-12 lines
2-3 acetate heavy lines
2 metal lines
1-2 artsy lines
1 budget line
2 sunglass lines
1-2 specialty lines
Notice that when I went from small to large practice I did not exceed more than 3 acetate heavy lines or 2 metal lines. I did add sunglasses and specialty lines as we progressed into a bigger space. The key is buying fewer lines but making deeper purchases.
Each frame line has a distinct look and story. Some lines have a clear vision, while others may seem like they lack identity. Focus on fewer lines with deeper buys to better understand and convey the story to your patients. Avoid having minimal inventory for a lot of lines, as it can become confusing and lines may blend together. Ensure each line has its designated display space.
Brands often have minimum purchase requirements, and it's crucial to understand their reasons. These minimums ensure proper representation and profitability. They also have a full time rep and customer service team that will commit themselves to serve you, but in return you must commit to selling their product as well. Buying deep into one line rather than spreading purchases across multiple lines helps meet minimums more easily.
Having an overwhelming amount of inventory can hinder sales. If frames are stacked and every available space is occupied, consider cutting your inventory in half. A clutter-free display allows patients to concentrate and make informed decisions.
Evaluate the performance of each frame line using your EHR reports. At times we can get attached to certain reps or lines. If a line isn't selling well despite your efforts, consider discontinuing it or replacing it with a new one. It could do better in a different location or maybe the styles have become stale.
Understanding return rates is essential in optimizing your frame purchases. This metric signifies the quantity you need to buy to be eligible for returning a certain amount. Typically, it follows a buy 3 to return 1 ratio. A reasonable return rate falls within the range of 3 to 1 or 4 to 1. Once you hit a 7 to 1 ratio, returning frames becomes challenging. Conversely, a 1 to 1 ratio is not favorable either. While it may appear like a good deal, it could indicate that the company acknowledges the frames may be challenging to sell, prompting incentives for you to buy.
Return rates serve the dual purpose of ensuring your rep remains in a positive position and encourage fewer returns. Frame reps often manage their expenses and only earn when they make a sale. While returning frames is a normal part of the process, especially when some don't work out, maintaining a balance is crucial. If you come across frames that might be slow movers or could be sold at a slight discount, consider keeping them in your store. Minimizing returns is a general rule of thumb, reducing the hassle for you. This approach encourages strategic buying with the intention to sell, eliminating the cycle of constant returns.
Shift your focus from returns to enhancing sales. Embrace creativity, equip yourself with in-depth knowledge about the brand, and educate your patients. By doing so, you'll impress your customers with your expertise and the frame line's uniqueness, ultimately driving them to make a purchase.
One of the most common challenges I observe is the tendency for people to buy one of each model, aiming to achieve the broadest assortment possible with the allocated number of pieces. However, this may not be the most effective purchasing strategy. The optimal approach involves buying deep and selecting two or three colorways for each model simultaneously. How often do you encounter the question, "What other colors does this come in?" You don't have to showcase all five colors; instead, present the alternative colorway you have for that model. More often than not, customers will appreciate the color choices and choose the colorway that best suits them.
Failing to buy multiple colors can result in frames lingering on the shelf for longer periods. Think of the experience in a department store when purchasing clothing – there are typically various color options for each item. If there's only one color available, and you're not entirely sold on it, you might explore other products with multiple color choices. This principle is equally applicable to eyewear. I personally have several models in multiple colors because I like the model. Your patients when approached with multiple colorways may do the same. It also provides patients with a sense of customization for their purchases. This not only caters to individual preferences but also reduces the need for special orders.
Consider adopting a formula when purchasing frames: one classic or understated, one trendy or fun, and perhaps an alternative if a particular colorway resonates strongly with you. Think of it as getting a friend for each frame. Experiment with this approach, and you'll likely notice a positive change in your inventory turnover and patient satisfaction.
Navigating the quantity of pieces to purchase can be a confusing aspect of the buying process. An effective strategy is to allocate a specific amount of the brand within your office. For instance, if it's your top-selling item and your space is limited, consider boldly purchasing 50 or 60 units for your office. In the scenario where you've allocated 60 and have sold down to 30, ensure you restock by acquiring 30 additional pieces and add 10 more for understock, focusing on the best-selling items. This approach enables you to enter the purchase with a clear understanding of the required quantity to return to a full stock.
A common error I often observe is individuals buying fewer pieces than they've sold. This practice leads to diminishing stock levels, diminishing the excitement around the line. If a line has already proven to be a strong seller, the consideration should be toward increasing rather than decreasing your buying. In busier seasons, it's advisable to purchase 10% more than your usual quantity to meet heightened demand.
Avoid purchasing the exact same product you've previously sold; inject some variety into your selections. Alter the colorways, especially if a particular option is proving to be a strong seller. Experiment with changing models if a frame received a lukewarm response. The key is to break away from a cycle of simply selling and repeating, as this leads to a monotonous inventory that quickly becomes uninteresting. A stagnant inventory tends to result in slower sales, emphasizing the importance of introducing fresh choices to keep both your stock and sales dynamic.
When selecting frames for your practice, it's crucial to keep in mind that you are buying for your patients, not yourself. Consider the preferences of your patients and the styles they favor. This consideration varies from location to location, as the needs of a city differ from those in suburban or rural areas. Even within the same city, preferences can change from one neighborhood to another. Connecting with what your patients enjoy wearing and addressing their requests for eyewear in your practice ensures that you make choices aligned with their tastes. Paying attention to these nuances will guide you in making the right decisions that resonate with the diverse preferences of your patient base.
Maintaining a positive relationship with your rep is crucial. They are there not only to assist you in times of need but also to help you curate a distinctive eyewear collection for your office. The eyewear industry is relatively small, and your rep might transition to a different line you love in the future. A strong relationship with your rep enhances their willingness to go the extra mile for you. For instance, if a frame breaks and is discontinued, your rep will make an effort to help you locate a replacement. While it's not a guarantee, any effort is better than none.
A good rep goes beyond sales and provides valuable training on the brand and its products for you and your staff, improving your ability to sell the products effectively. An experienced rep may even advise against purchasing certain frames in their collection. Yes, you heard correctly. If they notice defects or observe slow sales with a particular model, they will steer you away from it. In case of any issues with customer service, your rep can step in and try to assist, ensuring a smoother experience for you and your customers.
Understanding the roles of customer service and your rep is crucial for efficient day-to-day operations. Customer service is primarily designed to handle routine tasks such as checking order statuses or sending invoices promptly. This team is your go-to for the more immediate and repetitive aspects of support. While there can be confusion regarding the responsibilities of the rep versus the customer service team, they complement each other to provide comprehensive assistance.
Your rep, on the other hand, engages with you on a quarterly basis, contributing to the curation of a well-rounded eyewear collection based on your existing pieces. They offer support with marketing tools, provide valuable insights to enhance your brand sales, and assist with unique requests. Although reps can also handle certain tasks, customer service often responds more swiftly, particularly for smaller and repetitive matters.
It's essential to recognize that reps are frequently on the move, covering multiple states, which can lead to delayed responses. To ensure the best customer support for your line, a harmonious collaboration between the rep and customer service is necessary. If uncertain about whom to contact, starting with customer service is a good practice. They can promptly address inquiries within their scope, and if it falls outside their purview, they will seamlessly direct you to your rep for further assistance.
Understanding the warranty process is vital, as it may involve customer service or a dedicated warranty department for specific lines. Familiarize yourself with your chosen line's warranty procedures, as they can vary. Nowadays, many brands conduct their warranty processes online through a dedicated portal. This method offers a streamlined and efficient approach, making the replacement process cleaner and faster. Ensure you are well-versed in your line's warranty system, as it contributes to a smoother experience for both you and your customers when addressing warranty-related issues.
Strategically managing your lines, diversifying your purchases, and selecting multiple colorways are key factors in boosting sales. The ultimate objective when buying frames is to convert those selections into revenue. When purchases are not made thoughtfully, the revenue-generating process can slow down and eventually come to a halt. Drawing from 21 years of experience as a manager, consultant, and rep, I understand the complexities involved in buying. However, my aim is to provide insights that make the buying process a bit more manageable for you.
