Best Places to Open an Optometry Practice

What to Consider When Choosing a Location

Choosing the right location for your optometry practice takes quite a bit of research. A well-chosen location can significantly impact your practice’s success and patient flow. Here’s what to look for as you vet different sites:

Local demographics: Look for heavily populated areas. Get an understanding of the age distribution within the market and determine if your practice can meet the particular needs in the area. Seniors may need cataract screenings and vision correction, while younger individuals may want contact lenses or prescription sunglasses. Additionally, assess the average income levels in the area to understand the spending power of potential patients.

Competition: Research other practices in the area. A high concentration of optometrists may indicate market oversaturation, while a low number of practices could signal a strong demand for services. Gain a comprehensive understanding of the services offered in your area and think about how your business could bridge any gaps in care.

Accessibility: Your practice needs to be easy to get to. It should have ample parking for your patients and be a reasonable walking distance from various public transportation options. Your location should also comply with all ADA requirements to ensure it is accessible to all patients.

Visibility and foot traffic: One of the best places to open an optometry practice is on a busy road or in a popular shopping center. High foot traffic ensures your practice is seen by many people, encouraging them to stop in. If your optometry practice is near a complementary business like a pharmacy or other healthcare facility, you could collaborate with neighboring business owners and offer cross-referrals.

Cost: Set your budget before you start looking at different sites. Evaluate the cost of renting or purchasing the location against your sales projections to determine if it’s truly affordable. A big factor that can play into the cost of a site is the size. Determine the appropriate amount of square footage needed and do your best to stick to that figure.

How Partnering with a Franchise Can Help

If you find the site selection process overwhelming, there’s always the option of investing with an experienced franchise. Through their market analyses, site research, and other resources, a franchisor can provide recommendations for services that assist with site selection and negotiation. And while the site selection decision is ultimately yours, your franchisor can be a valuable resource throughout the build-out process, offering support when navigating local regulations and zoning laws, helping you avoid potential pitfalls that can delay your opening.

Get Started with Pearle Vision

The global optical industry is on the rise. Valued at $161.61 billion in 2023, the market is projected to see a compound annual growth rate (CAGR) of 6.6% from now until 2032 – reaching a total value of $285.20 billion. For savvy entrepreneurs, now is a great time to join a booming industry with a well-known franchise like Pearle Vision.

Rated the No. 1 health and wellness franchise, Pearle Vision has also been ranked on Entrepreneur magazine’s Franchise 500 and Franchise Times’ Top 200+ multiple times.

With over 550 locations across the U.S. and Canada, we have plenty of markets available for investment. Plus, we allow current optometry practices to convert their business to a Pearle Vision franchise to help expedite their growth.

Learn more about our franchise opportunity today. Request information to get started.