Value Vision
Making lower priced frames a high-volume profit center
By Marcy Bruch

  from an upscale eyewear manufacturer is like sitting front row at a top designer's runway show during Fashion Week. But alas, such pricey style is way beyond the financial reach of the masses.

And so it goes with eyewear as well. About 70 percent of Americans have a vision plan that allows them to buy frames for around $100. High-end frames start at $200 and up, and while some managed care plans allow patients to pay the difference, other plans do not. What's more, most Americans simply don't want frames that push the fashion or financial envelope.

PROFILING THE VALUE CUSTOMER

Knowing that, dispensers should never underestimate the power of value frames when it comes to pumping up profit. That's especially true if their dispensary is located where there are significant senior citizens, is in a rural community, caters to blue-collar residents, or is near a large company that offers a vision plan to its employees. These are prime value eyewear candidates.

About 40 percent of the patients visiting store owner Sandy Kaufman's Kaufman Eyecare Center in Boynton Beach, Fla., are over 65 and on Medicare or some kind of managed care vision plan. So not surprisingly, about one-third of her board space is dedicated to value frames. "I have two tiers of business," says Kaufman. "The designer-branded frame sector where customers pay out-of-pocket for frames, and the value business which is driven by third party billing."

Ripe markets for value frame sales are areas with senior citizens, blue-collar residents and vision plan recipients. Shown here: (left) Alexander style Bijou for a&a Optical, Inc.; (right) Hush Puppies H248 for Kenmark; and (below) Benali style 329 for Eyedeals

It's crucial to offer a good assortment of value frames at competitive pricing in order to effectively compete with chains. "I've established a good relationship with a lab so that I can offer bundled frame and lens packages," Kaufman says. "I sell a frame and bifocal package for $99 and a single vision/frame package for $79. They generate a lot of volume and have been crucial in maintaining my profit margins. It also keeps my customers from leaving and going to Wal-Mart down the street."

SELLING MULTIPLE PAIRS

Special sales on value frames--two frames for $99--has been a winning strategy for Les Arno, owner of M&L Vision in Brooklyn, N.Y. "If you want to freshen up your boards with new product, this is good way to clean the slate, so to speak."

Selling frames like this gets quick frame turns that generate high-volume to kick up profit margins.

MAXIMIZING PLANS, MIXES

In order to maximize your value eyewear business, the more vision care plans you participate in, the better. Arno says that he currently participates in three plans with one program being particularly crucial because it is a vision care program for a union that covers employees from a local company.

Since Arno is located in an urban area where fashion carries more importance, he has increased his house brand assortment because there are more fashion-forward frames in the mix that don't have the high designer price tag. "These frames are ideal for older customers because they are durable and often have a two-year warranty, as well as for younger customers because they always include a few trendy styles."

About 75 percent of frames at Schwartz Eyecare in Chicago, Ill., are considered inexpensive-retailing for $100 or less, says owner Gail Schwartz. What she finds sells best are metals in gunmetal, black, or bronze. "Both men and women are wanting more rectangular and angular shapes," she observes. "They are also feeling more comfortable in smaller sizes."

In Florida, Kaufman says the square and smaller shapes have been selling better as well. "Some men still want aviators, but now at least they like the aviators squared off at the bottom--which are a little more updated." Her female customers prefer brighter colors such as burgundy and blue, and are becoming more inclined to wear plastics than metal. When they do go for metal, they like silver and gold hues.

Even if your dispensary is in an affluent area, value eyewear still has its place. The faultering economy of the Silicon Valley and the state of California has forced many to take a second look at value frames, says Gerry Bundy, owner of Bundy Opticians in San Mateo, Calif. Like Kaufman, he says that many of his customers have bought a lower-priced frame as a second pair in case they misplace their designer frames. With more residents feeling an economic pinch, they are looking at the value frame board section for computer or reading glasses. "Since we cater to many in the computer industry, they don't want to be worried about losing an expensive pair of prescription glasses, so instead they opt for multiple pairs of lower priced frames and have them made into reading glasses to keep at work, in the car, and at home."

He adds, "The economic climate here has caused an erosion of the middle class. Either people have a lot of discretionary income or not enough to spare. That means value frames will always have a niche in even the most unlikely dispensaries."

Today's economic climate makes value eyewear an important part of your dispensary. Shown here (l. to r.) Zyloware Stetson ST 206; Joan Collins style JC9638 for New York Eye/Hart Specialties; and Clearvision styles Valarie (female model) and Gene (male model) for Clearvision Optical