Bailey Nelson’s first New Zealand partner, under its new shared ownership model is Kiwi optometrist Andrew Brady, who has opened his new co-owned Bailey Nelson store in High Street, Auckland.

Previously a wholly-owned chain, stocking its own brand of frames and lenses, Bailey Nelson announced proposed changes to its ownership structure in July this year, throwing the door open to those who wanted more than just a job. The company’s new partnership model requires a capital contribution from each partner in return for a share of the profits, proportionate to the partner’s capital investment and in addition to their salary. Under the agreement, partners can choose locations, designs and equipment for their new store, in consultation with Bailey Nelson, while Bailey Nelson manages the administration functions.

“Partners are invited to buy-in to a store and share in the financial success of this growing brand,” says Bailey Nelson eyecare director Robyn Weinberg. “Bailey Nelson provides all of the back-end support, including a business and clinical coach, as well as a world class supply chain, so that partners can concentrate on giving exceptional clinical service and growing their store.”

Andrew Brady, previously with Bailey Nelson Takapuna, says he was drawn in by Bailey Nelson’s unique approach. “The culture of the company is a huge plus, with the team displaying genuine enthusiasm, friendliness and passion for the brand.”

Having practised in New Zealand, Australia and Dublin, Brady says he needed a change of pace. “I was at the point in my career and personal life where I needed to make a strong commitment and I saw a real opportunity with Bailey Nelson.”

He’s excited to be the first partner in New Zealand and says he committed because he believes Bailey Nelson has a durable competitive advantage and an eye care and eyewear philosophy he is proud to be associated with. “I also appreciate the professional autonomy, support and technology that Bailey Nelson is providing for their optometrists.”

Since expanding from simply selling frames in the markets of Bondi, Sydney in 2012, Bailey Nelson has grown to own 40 stores in New Zealand, Australia, the UK and Canada. It is seeking further expressions of interest for co-owned stores in New Zealand and Australia.