Blog
Blog
 
 
 
 
 
 
 
 
 
 
 
Blog
IDOC actively shares industry-focused articles, blog posts, podcasts, videos and other thought leadership with our members and other optometric practitioners. Below, you will find links to our growing library of educational materials and multi-media assets written and created by IDOC's team of seasoned industry experts.
Ximara Vega | 10/21/2019
MANAGING YOUR FRAME BOARDS, EASY AS BUYING PIE

Sunday is our day! Every Sunday we follow the same plan. We have been taking the same steps for so long that MY husband can do it on his own. I’m so proud!! We wake up bright and early, go downstairs into the kitchen and take a full inventory of the pantry, refrigerator and freezer and generate a shopping list. This shopping list is no ordinary shopping list, each item is meticulously placed according to the floorplan of OUR FAVORITE grocery store. There is an app for our favorite grocery store that includes the weekly flyer, store coupons and manufacturer coupons. Based on the items we need and the information in the app we develop a budget. This budget is designed to prevent us from purchasing items beyond our list of weekly necessities. We have found that our previous method left too much room for error and backtracking and arguments….NO MORE!!!! We simplified our process and strengthened our relationship by developing a foolproof plan that is executed with excellence every Sunday.

How does this apply to your business?  Don’t you follow the same steps when managing your frame boards?  If not, it’s never too late to start.

  1. Take an inventory of your frames. Include everything on your boards and in understock
    1. Take note of the number of frames you sold last year and your YTD rate of growth
    2. Develop an understanding of the products that are moving in your practice by putting together a brand analysis
    3. Your Practice Management System should allow you to pull sales reports down to the sku to provide further insight into turn rate, your frame reps can also help with this
  2. Develop a budget
    1. Using your frame inventory count, YTD rate of growth and the number of frames sold in the previous year calculate your ideal inventory count
    2. By understanding the products that are selling you can reinvest in the brands and styles that are driving results in your practice
    3. The dollar budget is typically 35% of your frame revenue, but you also have to keep in mind the current state of your inventory and the number units you need to replenish
  3. Evaluate your floorplan
    1. Your most coveted brands should be highlighted and placed in an area that will drive traffic
    2. Work to ensure your product placement flow is easy to navigate
    3. Eliminate clutter and include updated brand specific merchandising tools to draw attention to specific brand collections

Frame board management is a tedious task, but by developing a plan and sticking to it you will simplify the process and strengthen relationships within your business.  

Ximara Vega
Merchandising Manager
Ximara is an ABO Certified Optician and lecturer with over a decade of experience in both consumer relations and staff management in the optical industry. As an Optical Management Consultant with IDOC, she works with practices to develop processes designed to motivate and inspire positive change in areas such as staff training, goal setting, sales and inventory management. For insight into her approach feel free to read her IDOC blogs and the articles she has written for Pentavision's Optometric Management Tip of the Week.
Trending Blogs
 
 

5/19/2022 | Author: Steve Vargo

As research for launching a new service called IDOC Specialty Services, I interviewed several industry experts of various specialties. At the end of each call, I asked everyone the same question: “What prevents more ODs from succeeding with a specialty?”

Their answers were insightful.... Read more


5/3/2022 | Author: Amy Alvarez

The pandemic has caused many changes in private practice, affecting everything from the way we see our patients to what we expect from our employees. Although some of these changes serve us well, others may feel like a barrier. While attendance issues are not new... Read more


4/15/2022 | Author: Lana Greene

Do you ever wonder if the same amount of effort goes into selling eyeglass frames vs. selling lenses and treatment options? I certainly do. Speaking from experience as an optician, I remember always being so excited when new lens technology was released. I couldn’t wait to fit our... Read more


4/8/2022 | Author: Steven Festa

Alright, I will come clean on something very few people knew about outside my family.  I’m OK with sharing this with the world now as it helps prove a point about the importance of being present in local searches.

Ever since COVID started, my wonderful wife had started... Read more


4/4/2022 | Author: Jelissa Brooks

Expanding your staff is an exciting step in independent practice growth. If you’ve recently added a new OD to your practice, get the word out to your audience through social media!

Promoting a new associate OD through your social media channels is an effective strategy in... Read more


3/15/2022 | Author: Nathan Hayes

In case you haven’t noticed, the Consumer Price Index was up 7.5% in January, as compared to 2021. In short, this means that a basket of goods like food, energy, and other consumer goods cost 7.5% more in 2022 than the year before.

Practice owners feel the squeeze in multiple... Read more


2/28/2022 | Author: Steve Vargo

Are you experiencing burnout in your professional career? It’s okay, you can admit it. You’re not alone. In fact, studies have found that approximately 50 percent of physicians are suffering from burnout.

Twelve billion dollars. That’s a conservative estimate of the cost incurred to... Read more


2/17/2022 | Author: Amy Alvarez

The last few months have been filled with rising wages, steep job competition, and continued uncertainty. Practice owners are being approached by staff about pay increases and are receiving higher wage requirements from job candidates. Many businesses are advertising their starting pay,... Read more


2/7/2022 | Author: Lana Greene

I often hear from ODs and opticians that their patients are taking their prescriptions and purchasing eyewear at Costco, Warby Parker, or other online retailers. Rarely do I hear the reason why. Finally, the opportunity was in front of me so I could ask questions to a consumer regarding the... Read more


1/24/2022 | Author: Steven Festa

Does hearing SEO make your eyes glaze over a bit and cause your mind to wander? If you answered yes, then you are not alone. While tough to grasp initially, SEO is important for your practice, and as providers of Read more

© 2022 IDOC. All Rights Reserved