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Seven Expert Tips to Getting the Best Lease

By Tom Bollum

Negotiating a lease is not something that you’ll do very often. Prepare for the discussion and take heed of the following seven tips for success:

  1. Initially offer about 20% less than asking net rents
  2. Know that net rent is the negotiable portion of the deal. The additional rent or taxes, maintenance and insurance (TMI) are actual costs that are passed directly to the tenants and are not negotiable.
  3. If you are a new practice go for a shorter initial term, such as three or five years, with a couple of five year renewal options. This provides an escape if things don’t work out.
  4. If you are an established practice or very confident of success, a longer initial term (ten years) will enable you to fix the rents for a longer time and get a tenant improvement allowance (TI) from the landlord.
  5. Go for as much free rent as possible….try to get three months totally rent free (no net rent or TMI) for your practice buildout, plus three more months net rent free to get established up and running.
  6. Make sure your lease is assignable so you have the option of selling your practice in that location.
  7. Insist on an exclusivity for all optometric, optical and ophthalmic activities.

Tom Bollum is a former retail optical executive and now a commercial real estate broker. He has sourced and negotiated locations for many optical stores across Canada.

 **ECP Office Renovation Survey

Let us know if you’ve recently or plan to renovate your practice or optical gallery.
Survey will take less than 3 minutes and no personal information is collected.  Thanks!

Click HERE for the survey.

Sophia Loren Unveils Etched Frame for the Mature Woman

Sophia Loren M263 is soon to be launched in September 2015. Taking this classic frame design to a new level of glamour and comfort, M263 is a full metal oval shaped frame, elegantly etched with tasteful crystal decor on the Zyl temples. A perfect selection for the individual requiring a stunning frame to hold any multi-focal lens design.

Sophia Loren is distributed by Zyloware Canada: www.zyloware.com

Ogi’s Seraphin Launches New Pearlescent Frame

Seraphin debuts a stunning new addition to the collection with the Covington, a feminine, pearlescent frame in a universally flattering shape.

Representing pure elegance, poised pearly hues grant a marbled appearance, radiating delicacy to any demeanor. Taking a classic rectangular shape to the next level with a distinguished swooping brow, this incandescent frame exudes modern delicacy. Available in four jewel-toned colours, the Covington gives off beautiful sophistication that transcends time.

Distributed by Ogi Eyewear: www.ogieyewear.com

 

Insights into Canadian and US Vision Consumers

The Vision Council released the results of its first VisionWatch Canada survey of consumers August 27, 2015. The survey of 12,000 Canadian adults regarding vision correction provided some interesting insights into the Canadian market for examinations and devices and provides some initial benchmarks against the long-standing VisionWatch study in the USA.

Here are some of the highlights of the comparative numbers between Canada and US:

  • While percent consumer use of any form of vision corrective device is similar (76% in both countries), the Canadian market shows a higher penetration of Rx glasses and a lower use of contact lenses, OTC readers and Rx sunglasses.
  • The % of respondents having private vision coverage was reported at 29.4% – substantially lower than in USA – 49.9%.
  • Prescription eyeglass usage, while slightly higher in Canada (67% vs. 64.2%) showed a longer purchase cycle – 2.5 years vs. 2.2 years.
  • Ophthalmic frames were, like most consumer goods in Canada, more expensive by 7%, corrected for exchange rate differences.
  • Eyewear sales by channel type; while Independent ECPs were nearly the same (44% and 45.5% respectively in Canada and US), Canadian retail optical chains have a much higher % of unit sales than the same channel in US and Mass Merchants and Department Stores are correspondingly lower in Canada compared to US.
  • Canadians pay about 13% more for ophthalmic lenses, but curiously, pay less for Progressive lenses.
  • While the % of glasses with photochromic lenses is reported as lower in Canada (12% versus 16%), both AR coatings and sun tints/polarized are substantially greater, which may account for some of the higher price point in Canada.
  • Contact lens usage in Canada is reported as 9% of the adult vision corrected population compared to 16% in USA.

Click HERE for the VisionWatch report.

Steve Kodey, The Vision Council’s Senior Director of Industry Research, cautions that the data will become more reliable as further surveys are completed over the course of time. All data points are national and the sample size did not allow for any regional breakouts.

Canadian OD Chosen as President-Elect of the World Council of Optometry

Dr. Scott MundleDr. Scott Mundle, of the Henderson Vision Centre in Winnipeg, became president-elect of the World Council of Optometry. He will take office in 2017 after the term of the new president, Uduak Udom of Nigeria. The announcement was made at the World Congress of Optometry in Medellin, Colombia.

Dr. Mundle was president of the Manitoba Association of Optometrists from 1992 to 1993, and of the Canadian Association of Optometrists from 2002 to 2004. In an interview with Vuepoint, Dr. Mundle stated his wish as president to tackle two challenges in particular: to increase the number of optometry schools, and to improve legislation in the many countries where there is no legal recognition of the optometric profession.

The current president of the WCO is Dr. Susan Cooper, of Brampton, Ontario.

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