Finance Details
- Total investment: (ex VAT) ranges between R1.3 mil to R2 mil depending on store size and spec.
- Franchise fee: 8%
- Marketing/advertising contribution: 3% of monthly turnover
Full Answer
Are Specsavers franchised?
Is Specsavers a franchise? We operate on a joint venture model (or JV for short) – which is similar to a franchise model, but unique to Specsavers where 'partnership' is at the heart of the business.
How much is Specsavers worth?
SpecsaversTypePrivateHeadquartersSt Andrew's, GuernseyKey peopleDoug Perkins (Chairman) John Perkins (Joint MD)Revenue£2.73 billion (2020/21) £2.78 billion (2018/19) £1.7 billion (2011/12) £1.5 billion (2010/11)OwnerThe Perkins family7 more rows
What company owns Specsavers?
Specsavers International Healthcare LimitedSpecsavers / Parent organization
Is Specsavers a franchise in South Africa?
Spec-Savers is synonymous with the highest standard of Optometry in South Africa. The Franchise was founded in 1993 and has since steadily grown its store numbers to over 250 stores nationwide, including Namibia, Lesotho and Botswana.
How much do Specsavers directors earn?
How much does a Optometrist Director at Specsavers make? Optometrist Director salaries at Specsavers can range from £53,916-£58,182. This estimate is based upon 1 Specsavers Optometrist Director salary report(s) provided by employees or estimated based upon statistical methods.
Is Specsavers part of the NHS?
The NHS, together with Specsavers, will cover the full cost of an eye test for anyone who qualifies (funding does not apply to everyone). In some cases, the NHS will also give an optical voucher towards the cost of glasses or contact lenses.
Are Specsavers privately owned?
Joint venture partnership Each store is part-owned and managed by its own directors, who are shareholders of their own businesses but who are supported by key specialists in support offices, who provide a range of services, such as marketing, accounting, IT and wholesaling, among others.
Where do Specsavers make their glasses?
The majority of their spectacle accessories are made in Germany or Italy. Eye tests. Possibly they do not do contact lenses. Open Monday to Friday 09.00 – 17.30.
Do Specsavers pay UK tax?
The Specsavers Group of companies makes a significant contribution to the UK exchequer each year and is a responsible business, taxpayer and contributor to the healthcare industry, paying every pound in tax owed in the UK and all other territories where we operate in accordance with applicable tax legislation.
How long is Specsavers pathway?
six-monthPathway is an intensive six-month program that prepares experienced Specsavers optometrists, optical dispensers and retail managers for practice ownership.
Who is the CEO of Specsavers?
John Perkins (2007–)Specsavers / CEO
Why is Specsavers successful?
The fundamentals of Specsavers' success have not changed: exceptional service, delivered by passionate, committed and highly-skilled colleagues, world-class product at unbeatable prices, superb marketing and fantastic retail standards. And above all, an unswerving commitment to the values of our partnership.
Who is the CEO of Specsavers?
John Perkins (2007–)Specsavers / CEO
Do Specsavers pay UK tax?
The Specsavers Group of companies makes a significant contribution to the UK exchequer each year and is a responsible business, taxpayer and contributor to the healthcare industry, paying every pound in tax owed in the UK and all other territories where we operate in accordance with applicable tax legislation.
Why is Specsavers successful?
The fundamentals of Specsavers' success have not changed: exceptional service, delivered by passionate, committed and highly-skilled colleagues, world-class product at unbeatable prices, superb marketing and fantastic retail standards. And above all, an unswerving commitment to the values of our partnership.
Is Specsavers owned by OPSM?
Where to buy glasses. Two international companies dominate the Australian market: Specsavers, and Luxottica, which owns OPSM and Laubman & Pank. Big W is another big player, with 42 optical stores inside their regular stores in Victoria, NSW, South Australia and Queensland. Some health funds also run optical stores.
What is Spec-Savers eyewear?
Spec-Savers is the leading Optometry Group in South Africa. The continued success of the organisation is based on a dynamic business concept that capitalizes on the price benefits of collective sourcing of products and a common marketing strategy. The brand is committed to ensuring a combination of professional standards and quality eyewear, available at affordable prices.
When did Spec-Savers start?
The first Spec-Savers franchise was started in May 1993 in Port Elizabeth.
Mark Walker
I love to watch my team grow – the times when I have taken on graduates and developed them through their pre-reg to become fully qualified optometrists makes me very proud.
Ramiz Ahmed
I couldn’t have imagined four years ago that I would be running my own business as an audiologist practitioner. I still get to do the day job, still get to the audiology side of things and practise my clinical skills but there’s also a new set of skills I’ve developed in becoming a business director.
Laura Deakin
Working in domiciliary is great – you are never in the same place and you get to meet a range of wonderful people; help people who are actually struggling with daily tasks and unable to get out, and something so simple as a new pair of glasses changes their lives.
Does Specsavers franchise?
Specsavers does not franchise in the UK. However, it uses a unique ‘joint venture partnership’ model which is unique to the brand. Basically, a joint venture partnership (JVP) is an agreement between two or more businesses or individuals (in this case, the director of the branch and Specsavers) for the purpose of a specific project or business activity. The two parties agree to work together and share the costs, profits, associated risks and rewards from the business.
What is a JVP with Specsavers?
If you choose to enter into a JVP with Specsavers, you’ll be able to do so as an optometrist, domiciliary (clinician that operates from home in the community) or audiologist. As part of the partnership, you’ll be the ‘A’ shareholder, meaning you’ll directly receive the profits, a market salary and the security of the partnership with a world-renowned retailer like Specsavers, who are the B shareholder. This means you’ll have to pay Specsavers a percentage of your turnover as a management fee, which entitles you to the retailer’s full support.
What is Specsavers support?
It contains videos, interactive modules and workshops on how to run a Specsavers business. Once you become a partner you will attend a two-day induction in our Guernsey office, and you will attend an informal dinner with a Specsavers Board Member.
How many Specsavers stores are there in the UK?
Now could be the ideal time to do so. Specsavers is the UK’s largest optical retail chain, with a 42 percent market share and more than 780 stores across the country. And since it was founded in 1984, it has expanded to countries including Australia, Sweden, The Netherlands and New Zealand ( Specsavers ).
What is an opticians franchise?
Franchisees are known as business partners and the opticians franchise offers extensive training to all new recruits, covering everything from sales, employee management and day-to-day business operations.
How many people in the UK wear 20/20 glasses?
Unsurprisingly, the opticians industry is a huge one, generating £4.4 billion in annual revenue and employing more than 62,600 people. It’s also experienced annual growth of 1.5 percent between 2014 and 2019 ( IBISworld.com ).
How to become a director of Specsavers?
To become a director, you’ll need to be an optometrist, dispensing optician, audiologist or retailer, as you’ll be responsible for building your own team and running your highly profitable business.
Book an Eye Test
Our experienced optometrists and optical staff are always happy to see you at Spec-Savers.
Find a Store
Visit a store to discuss your eye care needs, try on our collection of spectacles and sunglasses, or have an eye test.
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