Specsavers has announced it will open as many as 100 audiology businesses across Australia within the next 12 to 18 months. Its first audiology business, Specsavers Audiology Runaway Bay, launched at a local event in the Specsavers Runaway Bay optical store on Queensland’s Gold Coast on 30 August.
The second business, Specsavers Audiology Tweed City will open to customers on 31 August.
The new audiology businesses are located within Specsavers optical stores and each has its own franchise partner; audiologist Andrew Fraser at Runaway Bay, and his sister, audiologist Rochelle Fraser at Tweed City. Both franchise partners are audiologists of more than 15 years standing.
Specsavers Audiology Executive Director Darrel Magna said the aim of the audiology businesses was, “to bring the same level of accessibility and affordability to Australians requiring hearing aids as we have to those needing glasses and contact lenses. As we open the first of many, many audiology businesses across Australia we stand by our commitment to offer the highest quality professional service and the best possible value in hearing device technology. Our aim is to open as many as 100 audiology businesses in the coming 12-18 months, providing audiology services in up to 200 Specsavers optical locations.”
Mr. Magna said each Specsavers audiology business will be hosted within a local Specsavers optical store but will operate as a separate franchise business, with audiology professionals working alongside their optical colleagues. “It is an exciting model that sees a distinct audiology business opened in our optical stores. Each individual Specsavers audiology business pays a fee to the host optical franchise partners. The optical store partners do not have any ownership of the audiology business at all; that is reserved for the audiology franchise partners.”
As the first two audiologists to start up Specsavers audiology businesses of their own, Andrew and Rochelle Fraser were both excited to get started. “The model is well suited to audiologists like me,” said Ms. Fraser. “ There is no major investment required of partners, just a working capital loan into the business, which is paid back by the business after two years. And Specsavers shows real confidence by guaranteeing a market rate salary and superannuation package for all its partners, so you don’t have to worry about building the business with no personal income. And of course, as an owner you have an asset to build over time which was an important consideration for me.”
Ms. Fraser’s brother Andrew agreed, adding that there were a number of items that helped him decide to open a Specsavers Audiology business. “The fact that we will work off the existing Specsavers optical customer base means I won’t have to build the business from scratch; the clients we will look after are already used to coming in to Specsavers and our service will be mentioned to every single one of them, as they come in to the store. The level of support, the Specsavers marketing and pricing all work to provide real value to clients, which is exactly what I wanted.
“I also wanted to situate my Specsavers business on the Gold Coast. Getting in early has enabled that to happen; if I had waited I may have had to go further afield to secure a business location,” said Mr. Fraser.
