Visique evolves for independence

Visique has evolved into the Independent Optometry Group, a “fiercely independent group” designed to support and grow the wealth of its independent members in these changing times, says Neil Human, formerly Visique, now the Independent Optometry Group chief executive.

Formed in 2009, Visique as a group has always been hampered by its member requirement to use the Visique name, says Human, but that’s now gone. The newly launched Independent Optometry Group (IOG) is a true 100%-owned and run cooperative, he says. “Any independent practice can join and become a shareholder and continue to trade under their existing name. The cooperative company is wholly-owned by its shareholder members, so they have a vote and say in determining the company’s direction.”

The new group is about keeping independent optometry practices, independent, while helping them grow by providing them with business support and greater buying power, says Human pointing out how the group’s new logo embraces the idea of an individual, supported within a group. “Autonomy in decision-making for practices is paramount. Members drive their businesses as they determine, but can leverage the collective strength and knowledge that comes with our group.”

The most exciting part of this evolutionary journey is that this is not change for change’s sake, he adds. “This is change to have a thriving, independent sector. We want to be part and parcel of a thriving independent optometry sector. For a long time, independents have thought they didn’t have the muscle to operate against the corporates, but they do, they absolutely do. The actual revenue growth of our members over the past couple of years shows you can run your own business, pool your strengths and succeed very strongly against the corporate muscle.”

The decision to actually change to the Independent Optometry Group (IOG) was made last year and was primarily driven by the growing consolidation and corporatisation in the market, says Human. “At a global level, there are a number of strategic shifts taking place. To maintain and grow, independents need to work together.”

The proposed changes were put forward to Visique’s current membership, encompassing 49 practices, at its AGM last November and were fully supported, he says, with no one leaving the new group. Current Visique members can choose whether to keep or lose the Visique name, he says. “It’s completely up to them.”

The IOG will continue to be supported by a small central team, based in Auckland, comprising Human, marketing and customer experience strategist, Melissa Green, and finance and insurance administrator, Bala Prasad. They will be guided by members through the company’s board, currently comprising independent chair, Brian Rosenberg, and two member directors, Vanessa Cumming and Jagrut Lallu.

In return for an annual fee, IOG members will receive:

Supply chain benefits for frames, lenses, contact lenses and accessories etc.
Business Services, such as marketing and practice management tools, data analytics, SaaS benchmarking systems and mentoring/training
Corporate contracts for insurance, Ministry of Social Development (MSD) and the cooperative sector
Plus, other projects, still in the planning stage

Currently the group has supply contracts with nine frame suppliers, one lens company, though it’s in discussions with others, plus a number of other suppliers, all of whom will be assessed on a regular basis. “There will be choice for members and we will only select suppliers our members want to work with,” says Human. Members will be expected to support the group’s strategic suppliers, however, not exclusively, but significantly as that is where the greatest value lies for them from a cost perspective, he says.

Another membership benefit, often underestimated, is the business services the group can offer, says Human. “Most of us are time poor. Our business advisory services are directed at giving members dedicated time and a structure to work on their business as many can get stuck just working in their business.”

Human and his team hope to build awareness about the membership benefits of the new group over the next several months with the aim of doubling the group’s member base within two years.

“It is very exciting,” he says. “It’s about independents working more closely with each other to secure their future. That’s why, in Australia, ProVision and Eyecare Plus are doing very well. Independents can succeed, but they will do that best by working collectively and cooperatively.”