WRITER Thomas Do

Who would have thought that a high school side hustle selling phone cases and cables would portend a passion for business development? Certainly not Thomas Do.

When I was 14, I started a small eBay store selling iPhone cases and Android cables. At the time, the store was just a means to put money on the table; I did not have any interest in business, as I was more drawn to science and mathematics.

In fact, growing up, I always knew I wanted a career in healthcare as a desire to help people came naturally to me. However, it wasn’t until I saw my uncle’s work as an optometrist that I began to realise just how fascinating and rewarding this particular field of healthcare would be.

After completing my studies, I began my career at the Centre for Eye Health, a specialty clinic focussed on managing ocular pathology referred by optometrists across Sydney. I gained invaluable experience there, using advanced equipment and managing patients with complex ocular diseases. It was a steep learning curve, but I enjoyed the challenge without refraction being involved. This experience truly shaped my understanding of clinical optometry, providing me with the skills to confidently manage a broader range of patients.

THE SHIFT TOWARDS BUSINESS

In my second year after graduation, I transitioned to practising at an independent optometry practice in Penrith, in Greater Western Sydney. I quickly realised the distinct nature of private practice, performing refractions for the first time since graduating. Until then, my experience had been purely clinical; it was eye-opening to see optometry in the real world, where healthcare and business intertwine. As time went on, the owner of the practice decided to sell.

I knew, from the start, that taking over the business would not be easy. The practice was experiencing a downward trend, having declined 17% from the previous year, primarily due to a poor economy and rising living costs. Continuing on this path would render it unprofitable. However, I also recognised significant potential for improvement, so I decided to take the risk and committed to acquiring the practice in the following year.

A PLAN FOR MODERNISATION

To transform the business, I realised that modernising the strategy was essential. Like many optometrists, the previous owner was more clinically focussed and not well-versed in business and marketing. This made it difficult to be competitive, especially when competing against large industry players spending millions on marketing.

One of my primary goals for the practice was to offer affordable services without compromising on quality or customer care, something I believed was lacking in the industry. I found it concerning that many optometrists around me were no longer offering the NSW Spectacles Program because it attracted ‘low value’ patients. Quality eye care should be accessible to everyone.

While modernising the practice, my passion for business developed. I dove deep into learning key marketing and business concepts. I focussed on developing new acquisition channels, enhancing patient experiences, nurturing patient loyalty, and automating business operations.

Patients quickly noticed the transformations within the practice. Many commented on the improved appearance and were appreciative of the new diagnostic equipment. They also valued the enhanced health outcomes facilitated by our updated patient recall system and the superior quality of our lenses.

OVERCOMING CHALLENGES

Transitioning from optometry to managing a business came with many challenges. I had so many questions: how to secure a lease, how to negotiate with suppliers, how to purchase a practice. I had no idea where to start. But I was lucky to have the support of Kelvin Bartholomeusz, my business coach from ProVision. He answered all my questions from start to finish, which made a huge difference in my success.

Through all of this, I was also fortunate to receive support from key suppliers, such as Shiva Taghvaei from Safilo, who helped with the supply of Carrera sunglasses. We now have the largest collection of Carrera sunglasses in Australia, which has been our major selling point.

FUTURE PLANS AND GROWTH

Now, I’m eager to expand the practice, refine operations, and eventually license my business model to other optometrists. My ultimate goal is to offer a model where partners can benefit from a proven system while maintaining the freedom they would get from a truly independent store.

Optometry has given me the opportunity to care for patients while exploring new horizons in business. As optometrists, we’re often not taught about business, but that shouldn’t stop us from learning. My vision for the future is clear: to continue growing and helping others in this field to run their own successful practices.

For those considering starting their own practice or growing an existing one, my advice is simple: never stop learning and keep innovating. The path to success may be challenging, but with passion and determination, it’s a journey that can bring both personal and professional fulfilment.

Thomas Do is the owner and lead optometrist of City Optics in Penrith, NSW.