By the time they have finished medical school thoughts have already turned to starting up a private practice. That is how ambitious many of the young graduates are these days. To all intents and purposes, it makes practical sense for opticians to opt for private practice. They are able to retail their practice quite close to the public eye if you will. But like any other young practitioner out there, the startup costs can be enormous.
That’s also why it now makes good business sense to join a franchise organization. Apart from helping the young optician avoid the usual infrastructural and logistical costs associated with starting a private practice, the optical franchise group gives the young practitioner an opportunity to hone his business management skills that will be sorely needed to drive this enterprise forward. That would not have been something thought of in medical school.
Given that so many medical practitioners yearn to have their own private practice or be part of a conglomerate, you wonder sometimes why business administration is not being taught here. Obviously, there will be practical reasons for this and what is to stop the ambitious medical student from registering for business administration courses anyhow. Could this also have something to do with the already high university fees?
Or the hours of learning and training already spent? Could be, but now the new business owner really needs to move things along if he is to have any success in this venture. He still needs to find funding for his startup costs, something that the franchisor is not always able or prepared to offer. But he will surely be offering the young franchisee solid advice on how to acquire this funding successfully and at favorable terms too.