There are numerous ways to run a dispensary, but only a few ways to maximize your profits. As CEO of your optometry practice you are ultimately responsible for the bottom line. As an experienced optician, husband to a Marchon rep (she resigned in 2010 to raise our child), optometrist, and lecturer on “Running a Profitable Dispensary,” I have been privileged to be exposed to multiple systems of running a dispensary. All profitable dispensaries must have an intentional plan that involves some form of frame board management.
I have found the most profitable means of buying and selling frames to be a frame board management system where frames are ordered and replaced weekly and sales reps only even exchange when they are at your office. I have included a photo of a spreadsheet that we use at the office to manage our frame boards.
The color coded display template above is an example of what our office has implemented. Each color represents a different vendor and each vendor is given a copy of this to give them guidance. The frame sales reps are also given a one page sheet explaining the guidelines that we have in place for them to be successful in our office. At first the frame reps are concerned about the “limited spacing” but they soon come to realize that the harder they work for us (must result in increased sales of their product) the more spots on the board that they receive.
There are many other facets of frame board management. The first step is organizing on paper what you want the boards to look like. Next week we will look at the guidelines that we have put in place for our staff and frame reps to follow to be the most profitable and efficient.
