Nurturing young optoms to succeed in business

February 14, 2025 Sara Nahhas

I had the good fortune to attend The Independent Optometry Group (IOG) SunVision 2024 Conference held on Australia’s Gold Coast, where I spent time with independent owners and took in a weekend full of learning and socialising. The conference covered a wide range of topics in optometry, business, artificial intelligence, teamwork and communication. It was themed ‘Stronger Together’ to reflect the power of unity in healthcare.

 

Throughout the weekend, I spoke to optometrists, doctors and sales representatives from different regions in the country, which allowed me to gain huge insight into the value of networking and building strong relationships between different kinds of health professionals. 

 

The experience also allowed me to listen to many optometry practice owners as they described how they have adopted different aspects of patient care, such as advanced technology or community outreach. I realised that, as the optometry profession continues to evolve, optometrists are seeking greater autonomy and financial success by owning and managing their own practices, which led me to reflect on the path a young optometrist might take to own their own independent optometry practice and what skills and support they’d need.

 

Advantages for young practitioners

 

There are definitely advantages in practice ownership for the young optometrist; ownership gives us the ability to shape our practice's philosophy and patient care model according to our values and vision. As independent practice owners, optometrists have greater control over their career trajectory. We can decide when and how to expand the business, pivot to new areas of practice, or adjust to changing market conditions and patient needs.

 

Independent practice ownership also gives young optometrists the freedom to innovate. We can introduce new services, streamline workflows and experiment with marketing strategies. This creativity fosters a sense of ownership and pride that many may find more fulfilling than working in a corporate setting.

 

How to get there

 

Young optometrists need to be proactive in seeking mentorship from practice owners who can provide invaluable insights into managing finances, staff, patient relationships and navigating the challenges of practice growth. Additionally, developing a mindset focused on continuous learning – whether through business-focused electives, shadowing established owners, or personal learning – will help us build the skills necessary to succeed.

 

By setting clear goals and being open to guidance from those who have been through the process, young optometrists can position themselves to thrive as the next generation of practice owners, ensuring the future of independent optometry remains strong and sustainable.

 

Undoubtedly, becoming an optometry business owner requires a diverse set of skills that blend healthcare expertise with business acumen. However, many of us lack the right set of skills to navigate the complexities of practice ownership including managing finances, marketing expertise, staffing know-how and strategic planning. While the optometry degree has prepared us to utilise our clinical knowledge and skills to deliver patient-focused care, further steps are necessary to provide us with necessary business nous.

 

It might be time to incorporate more business-focused electives into the optometry curriculum that are critical for preparing students as future business owners and leaders in the field. By offering electives in business and marketing, universities can equip students with the tools they need to succeed beyond patient care. These courses can inspire and empower young optometrists to think entrepreneurially, develop sustainable practices and ultimately contribute to the growth and advancement of the profession as a whole.

 

Sustainability for current owners

 

A top priority for many practice owners, will be finding and mentoring a young optometrist to take over when they retire or move on. Staggering practice ownership by age is one good strategy for ensuring the long-term stability and success of independent optometry practices. Ideally, there should be a balance of experienced optometrists who are nearing retirement and younger optometrists who are ready to take on leadership roles. This staggered approach, rather than adopting an abrupt change that can strain practice operations, allows for knowledge transfer, mentorship and gradual shifts in responsibility.

 

To facilitate this transition, it is important to identify aspiring young optometrists who show an interest in practice ownership early on. This attitude not only signals a commitment to the future of the practice but also highlights a willingness to take on the leadership, financial and managerial responsibilities that come with owning a practice.

 

In summary…

 

Practice ownership is a significant undertaking and, while the path is open, it requires a commitment to both clinical excellence and business savvy. I believe the key to success for young optometrists lies in having clear goals, a strong vision for the future and the willingness to learn from the experience of senior practice owners.

 

To support and prepare students, universities should be offering electives in business management and practice ownership as a key step to motive students to pursue these opportunities, while also preparing them for the challenges and rewards of practice leadership. By fostering a culture where young optometrists are encouraged to engage in business-related learning and actively participate in succession planning discussions, the profession can cultivate the next generation of practice owners, ensuring continuity and growth for independent optometry.

 

 

Sara Nahhas is a graduate optometrist who completed her qualification at Auckland University School of Optometry and Vision Science in 2024.