Tag: optometrists

Does Made in Canada Matter to You?

Practice, Products | Services | Industry News

|

0
(0)
Buy Canadian

Share your insights in our Optical Industry Survey for a chance to win a $25 e-gift card. 

Canadian consumers are increasingly prioritizing buying Canadian, driven by economic and political factors, including the potential for trade tariffs on Canadian exports. 

But how does this trend impact eye care professionals and their purchasing decisions for ophthalmic lenses, eyewear frames, and finished jobs from optical labs?

EyeCare Business Canada wants to hear from Optometrists, Opticians, and other eye care professionals about their awareness of where their products come from and whether country of origin plays a role in their choices.

This quick 3 minute survey explores:

✅ Awareness—Do you know where your lenses and frames are manufactured?
✅ Buying Behavior—Would Canadian sourcing influence your decisions?
✅ Canadian Value Add—Do you consider products designed or finished in Canada as “Canadian”?
✅ Consumer Trends—Are your patients asking about country of origin?

Your insights will help shape the conversation around Canadian-made optical products.

📢 Take the survey now!  

Your responses are completely anonymous, and as a thank you, participants can opt-in to receive a summary of the results as well as a chance at the $25 gift card. 

 

Share:
Rate:

0 / 5. 0

Your Voice Matters: Participate in Our Survey on Practice Management Systems!

Sponsored Posts

|

0
(0)
15 PRACTICE MANAGEMENT SOFTWARE SURVEY

Are you part of a Canadian Optometric practice? Your insights are invaluable! We’re inviting you to participate in a brief survey designed to gather your opinions and experiences with practice management software.

As the backbone of many successful practices, practice management systems play a vital role in streamlining operations, improving patient care, and enhancing overall efficiency. But not all systems are created equal, and we want to learn what works, what doesn’t, and where there’s room for improvement.

This survey includes various usage and attitude questions about practice management software and will take about 5 minutes to complete. Whether you’re a fan of your current system or find yourself wishing for better features, this is your chance to share your perspective and help shape the future of optometric practice tools.

Why Participate?

In addition to making your voice heard, the first 100 qualified respondents will receive a $10 e-gift card as a thank-you for your time and valuable input. (Limitations apply.)

Your responses will be used to better understand the needs of optometric practices across Canada, helping us uncover trends, challenges, and opportunities in practice management software.

How to Get Involved

Participating is simple! Click the link below to access the survey and complete it on your own time. Remember, it takes less than 5 minutes to make an impact and claim your reward if you’re among the first 100 qualifying respondents.

Start the Survey Now!

Your Feedback Drives Innovation

By sharing your experiences, you’re contributing to a broader conversation about the tools and technologies that support optometric practices. Your insights will not only help inform others in the industry but also guide future developments in practice management solutions.

Don’t miss this opportunity to shape the future of your field and earn a small token of appreciation in return.

Thank you for your participation and dedication to improving Canadian Optometry!

 

Share:
Rate:

0 / 5. 0

Specsavers Named as One of the Best Places to Work in the World

sponsor, Sponsored Posts

|

0
(0)
Specsavers_WorldsBestWorkplace_2024

Fortune Magazine and Great Place to Work® selected the optical and audiology business from a list of organizations that took part in the Great Place to Work’s employee survey process, with 7.4 million responses received, representing 20 million employees worldwide.

“This is an incredible achievement, and it is a credit to all our colleagues and partners who work hard to make Specsavers such a great place to work. I could not be prouder. Our ranking among so many other brilliant organizations on this list continues to drive our ambition in making life at Specsavers truly special,” says John Perkins, Specsavers CEO.

To be considered for the list, companies must be identified as outstanding global employers with recognition on at least five Best WorkplacesTM lists from across the world in 2023 or early 2024.

Colleagues said the opportunities offered to develop and grow as well as the culture and level of care for employees were the main reasons for rating the business so highly.

 

“We’re very proud to be named as one of the world’s best workplaces,” said Bill Moir, Managing Director, Specsavers Canada. “This global recognition reflects Specsavers’ commitment to putting its people first, which has been the foundation of our successful growth in Canada. People have, and always will be, at the heart of everything we do at Specsavers.”

Specsavers was recognized in Canada’s Best Workplaces™ List for 2024, including additional awards for best workplace in retail/hospitality, for women and for giving back. Since arriving in Canada in late 2021, the company continues its rapid growth across the country, providing career and business ownership opportunities in Ontario, Manitoba, Alberta, and British Columbia.

With over 135 locally owned Specsavers locations in Canada, the company employs more than 1,500 people and has more than 300 independent optometrists in its network.

Organizations like Specsavers are assessed on their efforts to create great workplaces and positively impact people and communities across multiple countries around the world.

 

Start your business with the support of Specsavers. Search available locations.

Share:
Rate:

0 / 5. 0

Waterloo Eye Institute Event Showcases Cutting-Edge CE and Trade Exhibit

Career Options, NextGenOD

|

0
(0)
Waterloo Eye Institute

From November 15 to November 17, the Waterloo Eye Institute (WEI) hosted an exceptional event in Markham, Ontario, offering an engaging mix of continuing education (CE) and industry networking opportunities for optometric professionals. Over three days, attendees participated in 20 hours of COPE-accredited CE sessions for optometrists and 6 hours of tailored CE programming for optometric assistants.

The event also included a three-hour trade show on Saturday, featuring more than 30 industry-leading exhibitors showcasing the latest innovations in eye care products and technologies. NextGEN OD Canada Student Ambassadors attended the show

Highlights from the Distinguished Lecture Series

Dr. Etty Bitton: On Friday, Dr. Etty Bitton delivered the prestigious Woodruff Distinguished Lecture, presenting on the differential diagnosis of anterior blepharitis.

A celebrated expert in tear film physiology and dry eye, Dr. Bitton holds a Doctorate in Optometry from the University of Waterloo and a Master’s in Physiological Optics from the Université de Montréal. Currently a full professor and director of the Dry Eye Clinic at the École d’optométrie, she has been a leader in dry eye research and a contributor to global initiatives like TFOS DEWS II. Her presentation was a tribute to Dr. Emerson Woodruff’s legacy, whose contributions helped shape optometry education and research at the University of Waterloo.


Dr. Donald Hood: On Saturday, Dr. Donald Hood took the stage to deliver the 33rd Bobier Distinguished Lecture, titled A Novel Approach to Identifying Glaucoma Based on a Large Real-World OCT Database from Optometry Cases.

Dr. Hood, Professor Emeritus at Columbia University, is a renowned figure in retinal and optic nerve disease research, with nearly 400 publications and numerous accolades, including an honorary degree from SUNY College of Optometry. His lecture honored Dr. Clair Bobier’s pioneering vision for integrating scientific research into optometry education, further solidifying the importance of evidence-based practice in the profession.

Networking and Innovation at the Trade Show

Saturday’s trade show provided a bustling platform for attendees to explore cutting-edge technologies and services from over 30 exhibitors. This interactive session fostered connections between practitioners and industry leaders, further supporting the WEI’s mission of advancing patient care and optometric education.

NextGEN OD Student Ambassadors, Sara Baig and Shreya Jain, supported Clinical & Refractive Optometry during the 3-hour trade show.

Engaging Panel Discussions

The event concluded on Sunday with a dynamic “Rapid Fire Panel Discussion” on advanced scleral imaging and specialty contact lens technology. Moderated by Drs. Chelsea Bray, Shalu Pal, and Vishakha Thakrar, the panel provided practical insights and innovative approaches to enhancing patient outcomes through emerging lens technologies.

Looking Ahead

The success of the WEI’s November event underscores its commitment to fostering collaboration, education, and innovation within the optometric community. With initiatives like these, the WEI continues to pave the way for advancements in vision science and patient care, benefitting practitioners and patients alike across Canada.

 

Share:
Rate:

0 / 5. 0

Why Elevating Your Emotional Intelligence Enables You to Provide Superior Client Service

Human Resources, Training & Onboarding

|

0
(0)
two women shaking hands

In the service-oriented world of business, exceptional client service is vital. While technical expertise is important, the ability to connect with clients on an emotional level is what truly sets you apart. Emotional intelligence (EQ) is key to building these meaningful connections. By enhancing your EQ, you not only improve your professional abilities but also elevate the quality of service you deliver to your clients. Here’s how developing EQ leads to better client service:

  1. Enhanced Decision-Making for Client Needs

When you possess high EQ, you excel at making decisions that are both rational and emotionally attuned to your clients’ needs. By understanding their emotions and concerns, you can offer solutions that are not only effective but also resonate with them on a personal level. This fosters stronger client relationships and increases satisfaction, as clients feel heard and valued.

  1. Improved Client Relationships

Building and maintaining strong client relationships is essential for long-term success. High EQ allows you to connect with clients on a deeper level, fostering trust and mutual respect. When clients feel understood and appreciated, they are more likely to remain loyal and refer others to your services. Demonstrating empathy and understanding consistently creates a positive and memorable client experience.

  1. Increased Adaptability to Client Expectations

Client needs and expectations can change rapidly. Emotional intelligence provides the flexibility needed to navigate these changes effectively. Whether it’s adjusting to evolving requirements or handling unexpected challenges, high EQ enables you to stay calm, responsive, and solution focused. This ensures that clients receive the best possible service, regardless of the circumstances.

  1. Enhanced Communication with Clients

Effective communication is the foundation of excellent client service. With high EQ, you can convey your ideas clearly while understanding the emotions and concerns behind your clients’ words. This ensures that your communications are not only clear and concise but also empathetic and supportive, leading to better outcomes and stronger client relationships. Enhanced listening skills, a core component of EQ, help you fully understand your clients’ needs and respond in ways that meet their expectations.

  1. Better Stress Management for Client Satisfaction

Managing stress is crucial when working closely with clients, especially in high-pressure situations. High EQ equips you with the tools to manage your emotions, allowing you to stay composed and focused when challenges arise. This calm demeanor reassures clients, contributing to a positive experience and enhancing their overall satisfaction with your services.

  1. Delivering Consistent, High-Quality Service

By elevating your EQ, you position yourself to deliver consistent, high-quality service that meets or exceeds client expectations. The ability to manage relationships, adapt to changing needs, and communicate effectively ensures you can provide tailored solutions that genuinely benefit your clients. Consistency in service delivery not only strengthens client loyalty but also enhances your reputation as a reliable and professional service provider.

Elevating your emotional intelligence isn’t just about personal or professional growth—it’s about providing the best possible service to your clients. By improving your decision-making, communication, adaptability, and stress management, you offer a level of service that stands out in today’s competitive market. This professional edge keeps clients satisfied, loyal, and willing to refer others to your business.

Ready to elevate your client service to the next level?
Visit www.emotionalintelligenceconsultinginc.com to explore available trainings and discover how enhancing your EQ can transform your client interactions and boost your business success. Don’t just meet expectations—exceed them with the power of emotional intelligence.

 

Jade Bodzasy

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.

Share:
Rate:

0 / 5. 0

Small Business Tax Rate and Its Erosion with Passive Income

Finance|Wealth, Tax & Legal Matters

|

0
(0)
Taxes C3 Wealth article

In recent years, the landscape of Canadian small business taxation has undergone significant changes, particularly concerning the small business deduction (SBD) and its interaction with passive income. Understanding these changes is crucial for small business owners who rely on the SBD to reduce their tax burden and promote growth.

What is the SBD?

The SBD is a tax benefit on the first $500,000 of active business income (ABI) in a Canadian-controlled private corporation (CCPC). This reduction is designed to help stimulate business growth and job opportunities.

The Tax Advantage of the SBD

The current combined federal and provincial corporate tax rate on income eligible for the SBD is 11% in Alberta. This represents a 12% tax savings compared with the general rate income pool (GRIP) tax of 23% on active income.

Changes in Corporate and Personal Taxation (2018)

In 2018, the Canadian tax system underwent significant adjustments aimed at achieving greater integration between business and personal taxation. This overhaul primarily affected business owners and their comparison to salaried individuals, creating a near-perfect tax alignment.

2018 Tax Changes Affecting the SBD

The 2018 federal budget introduced significant changes to the impact of passive income within corporations. If passive income exceeds $50,000 in a given year, a clawback* begins on the $500,000 of eligible ABI for the SBD.

Understanding Passive Income

Passive income includes interest, dividends, and capital gains. The taxable portion of these forms of income is termed adjusted aggregate investment income (AAII).

How is Corporate Passive Income Taxed?

Following the 2018 tax changes, corporate passive income as AAII is currently taxed at a rate of 46.7% in Alberta (combined federal and provincial rate).

The Tax Impact is Greater after June 25, 2024

In 2018, at the time of “near perfect integration” the capital gains inclusion rate was 50%. This means that 50% of the gain was deemed taxable as AAII. On June 25, 2024 the capital gains inclusion rate for corporations was increased to 66.7%, making it easier to surpass the $50,000 threshold, thereby affecting SBD eligibility.

How SBD Erosion Works

For every dollar of ABII that exceeds the $50,000 threshold, SBD eligibility is reduced by $5*. Once passive income surpasses $150,000 in any given year, the entire SBD on active income is eliminated.

Example of SBD Erosion in Alberta

Consider a scenario where a corporation has $500,000 in taxable active business income. Without any investment income, the corporate tax bill would amount to $55,000.

If this corporation also has $100,000 of ABII**, which exceeds the $50,000 threshold, the SBD rate of 11% will apply only to $250,000 of active income, with the remaining $250,000 taxed at the GRIP rate of 23%.

SBD Tax on $250,000: $250,000 × 11% = $27,500

General Rate Tax on $250,000: $250,000 × 23% = $57,500

Total Tax Bill on Active Income = $85,000 which is $30,000 MORE than if the corporation had passive income less than $50,000!

**this example does NOT include the tax bill on passive income. To see examples for other provinces and the tax on passive income visit our website to access a simple calculator.

A Complex Conversation

Navigating investment and divestment strategies within your corporation has become increasingly complex due to ongoing tax changes. A holistic financial plan that integrates both business and personal aspects of your wealth and taxation is essential to empower you in your financial journey.

It is never too early or too late to initiate your financial planning. Contact us at 780-261-3098 or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

 

*Note: Ontario, Quebec and New Brunswick provincial tax calculations do not mirror the federal rules for the SBD clawback.

 

Roxanne Arnal is a CFP®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial and tax planning. Individual circumstances and needs vary. Errors and Omissions exempt.

 

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Share:
Rate:

0 / 5. 0

Vision Entrepreneur by OSI Group: Your Key to a Successful Optometry Practice

sponsor, Sponsored Posts

|

0
(0)
OSI key image

Ready to turn your passion for optometry into a thriving business? The Vision Entrepreneur program is your gateway to launching or enhancing your optometry practice. Whether you’re a newcomer or a seasoned professional aiming to delve into optometry entrepreneurship, this program offers unwavering support at every turn. With experienced coaches deeply passionate about the field, you’ll gain the necessary skills and insights to navigate the complexities of entrepreneurship and build a thriving practice.

Develop a Clear Vision and a Solid Business Plan

Turn your aspirations into reality with guidance from our expert coaches. They’ll help you set clear business objectives, pinpoint your target market, and devise an effective strategy.

 

Master the Essentials of Optometry Practice Management

Achieving success in optometry requires more than just clinical prowess; robust management skills are just as critical. This program provides hands-on coaching in vital areas such as finance, operations, and business development, ensuring a comprehensive approach to practice management.

Enhance Your Confidence and Motivation

The path of entrepreneurship is full of challenges, but you won’t be alone. Our coaches offer continuous encouragement and support, empowering you to unlock your potential and tackle obstacles confidently.

 

Build Networks and Access Key Resources

Vision Entrepreneur connects you to a vast optometry community. Our coaches introduce you to professionals, mentors, and investors. By expanding your professional network and resources, they open doors to clinic acquisition opportunities.

Craft Effective Marketing and Sales Strategies

Develop marketing and sales strategies that attract and retain clients. By adjusting a game plan to your niche and budget, our coaches guide you to create compelling marketing materials and targeted sales strategies while enhancing your online presence.

Navigate Legal and Regulatory Frameworks

Starting an optometry practice involves a deep understanding of the legal and regulatory landscapes. Our program offers expert advice and links you with legal professionals to ensure full compliance with all regulations.

 

Manage Stress and Achieve Work-Life Balance

Balancing the demands of entrepreneurship without compromising personal well-being is crucial. Our coaches provide strategies to help you manage stress and maintain a healthy balance, ensuring you thrive both personally and professionally.

 

Invest in Your Future

Transform the dream of a successful optometry practice into reality with Vision Entrepreneur. Ready to take the first step toward a successful optometry practice? Visit us today to learn more.

 

visionentrepreneur.ca

Share:
Rate:

0 / 5. 0

Partnering for Success: Dr. Theodor Buzea’s Story with Specsavers

sponsor, Sponsored Posts

|

0
(0)
Specsavers Dr. Theodor Buzea featured image

Dr. Theodor Buzea always had a clear vision for his future – he wanted to be an optometrist and a business owner. With his path set, he oriented his education towards becoming an optometrist, completing both his undergraduate and optometric degree at the University of Waterloo. After years in the optical industry, Dr. Buzea took the early leap to become an optometry partner with Specsavers. Today, Dr. Buzea has achieved both of his goals and owns an independent clinic located in Specsavers Southcentre in Calgary.

Dr. Theodor Buzea

Dr. Theodor Buzea always had a clear vision for his future – he wanted to be an optometrist and a business owner. With his path set, he oriented his education towards becoming an optometrist, completing both his undergraduate and optometric degree at the University of Waterloo. After years in the optical industry, Dr. Buzea took the early leap to become an optometry partner with Specsavers. Today, Dr. Buzea has achieved both of his goals and owns an independent clinic located in Specsavers Southcentre in Calgary.

 

Q: What inspired you to become a business owner?

I strongly believe that business ownership is one of the best ways to create change in the world. The desire to try and create an amazing work environment where people can come to learn and progress their careers is what inspired me the most, but opening a business holds a certain level of risk. I wanted to get hands-on experience in the field to understand the growth opportunities and needs before jumping into ownership.

 

Q: What initially drew you into partnership?

Specsavers are pioneers in how they provide eyecare support to optometrists. I really appreciate and value the way they put patients first and how they’ve been able to maintain that throughout the years.

They also hold the same values as I do when it comes to fostering a healthy work environment and making quality eyecare accessible. This encouraged me because I wanted to partner with a company that would help facilitate my goals for both my patients and team.

Dr. Buzea at the opening of his Specsavers store and independent clinic at Southcentre Mall in Calgary, AB.Dr. Buzea at the opening of his Specsavers store and independent clinic at Southcentre Mall in Calgary, AB.

Q: What has surprised you about partnering with Specsavers?

The sense of community is absolutely amazing. I’ve had the opportunity to meet so many talented individuals and it’s been great to work with like-minded people. Everyone at Specsavers approaches situations with a team mentality, we’re all working towards the same goal to provide great care for our patients and customers. Working with the people here is truly a breath of fresh air.

Q: How have things been going since opening your independent clinic?

We’re happy to see the community appreciating us for being here to help them. I believe that patient volume grows when your end goal is to provide patients with the best care and service possible. We’re seeing exam bookings fill up quickly and we always do our best to help anyone who drops by the clinic. I was very open-minded coming into this and mainly wanted to make a difference in the community.

 

Search for associate and partnership opportunities at join.specsavers.com/ca.

 

Share:
Rate:

0 / 5. 0

Career and Ownership Paths in Optometry: Find Your Fit

sponsor, Sponsored Posts

|

0
(0)
Specsavers Sarnia

Since arriving in Canada less than three years ago, over 250 optometrists and 300 opticians have joined the Specsavers network.

Why have so many have chosen to partner or join an independent clinic in the Specsavers network?

It started 40 years ago with two optometrists, Doug and Mary Perkins, who had the vision to make quality eyecare and eyewear accessible to all. Globally, Specsavers supports over 2,700 healthcare businesses, passionately caring for more than 44 million patients and customers worldwide.

Wherever you are in your career, there are many pathways to join the fastest growing network of optometrists in Canada.* There are even flexible options for existing business owners to convert their business to a Specsavers store.

Here’s a detailed look at the unique opportunities and benefits each career path offers you and how they can shape your future in optometry.

Which path is right for you?

Associate Optometrist

Overview: As an associate optometrist, you’ll be a crucial part of an independent optometric practice, focusing on delivering quality eyecare.

Key benefits:

  • Clinical excellence: Get access to the NIDEK Tonoref 3, NIDEK automated lensometer, Topcon Maestro2, NIDEK intelligent refract RT-6100, NIDEK slit lamp SL-1800, Marco M2 Ultra Slit Lamp, and Zeiss HFA3 with SITA Faster visual field.
  • Culture of dedication: Work with a team committed to community eyecare and monitoring the eye health of patients for preventable vision loss, which is why OCT is available for all your patients.
  • Pre-test support: Trained eyecare consultants welcome and take your patients through pre-testing so you have reports sent directly to your exam room for your consultations.
  • Professional development: Benefit from mentorship from a network of peers dedicated to delivering exceptional patient care.

Signing bonus: You can also qualify for a sign-on bonus. Connect with a recruiter about the forgivable loan of up to $100k for recent graduates, relocation bonus, and more.

Ideal for: Optometrists who seek flexibility with clear pathways for career growth, professional development, and work-life balance.

 

Optometry Partnership: Ownership with no/low financial barriers

Overview: Optometry partnership is a unique opportunity for optometrists to start their own independent clinic within a Specsavers location and earn 100% of clinical billings while receiving 40% share of dividends from the retail store. Starting your business in partnership with Specsavers offers a chance to run your own business while benefiting from the support and resources of a global optical retail leader. What’s exciting for many optometrists is the opportunity to have your location start-up costs covered.

Key benefits:

  • Low barrier to entry: With only a $25,000 entrance fee, your location start-up costs are covered – removing what can be a significant financial barrier to starting your own business.
  • Clinic ownership with autonomy: As a partner, you will have an independent clinic fitted with advanced clinical technology within the Specsavers location to manage and grow your own practice.
  • Paired with a retail partner: Be matched with a retail partner who is an experienced optician and/or retail professional to manage the day-to-day retail operations.
  • Comprehensive business support: Receive payroll, accounting, supply chain, marketing, IT support, and more, to free your time so you can focus on your patients.
  • An asset for the future: With 40% share of the retail store, you can benefit from dividends while growing a valuable asset for your future.

Ideal for: Optometrists who have an entrepreneurial spirit and are ready for the rewards of owning an optical retail store with a retail partner, as well as their own independent clinic.

 

Convert your existing business to become a Specsavers partner

Overview: Specsavers optometry partners come to us from all kinds of backgrounds. The key to our partnerships is flexibility – it doesn’t matter how you’re starting out with us, we can find a way to make it work. So, if you have an existing business and you’re looking to join up for more business support or to receive the backing of an established brand, this might be the right opportunity for you.

Key benefits:

  • Location build out costs are covered: Have the cost of design, construction, displays, and much more covered to convert your business to a Specsavers store.
  • Clinic ownership with autonomy: Have an opportunity to further the direction of optometry with advanced clinical technology and OCT for all your patients.
  • Paired with a retail partner: Be matched with a retail partner who is an experienced optician and/or retail professional to manage the day-to-day retail operations.
  • Comprehensive business support: Receive payroll, accounting, supply chain, marketing, IT support, and more, to free your time so you can focus on your patients.
  • An asset for the future: With 40% share of the retail store, you can benefit from dividends while growing a valuable asset for the future.

Ideal for: Optometrists who are looking for more business support with an established brand and to enjoy the benefits of being part of a larger network of doctors.

 

Ready to explore these opportunities?

Start a conversation with the Specsavers Partnership Team at enquiries.ca@specsavers.com or learn more at  .

 

Whichever path you choose, you can have a fulfilling and dynamic career ahead of you within the Specsavers network.

 

* Based on LinkedIn reports. Data on file.

 

Share:
Rate:

0 / 5. 0

Your Lease Needs a Health Checkup Too!

Practice, Real Estate

|

0
(0)
Leasing agreements

What you don’t know about your lease will hurt you. Your patients ought to have a regular eye health examination. Why don’t you have a periodic lease health checkup?

You check to ensure your staff are paid properly, your bank account charges are reasonable, your loan payments are reasonable, and you are not overpaying for equipment and supplies. Why would you not check to make sure you are being treated fairly under your lease?

Believe it.
Each year many tenants unknowingly find themselves in huge lease trouble simply because they didn’t understand what their lease really says. Do you think your landlord is going to call you up and tell you that you are overpaying and write you a check? Not likely.

Lease issues can be ongoing, chronic and expensive “gotcha’s”, which appear in at least 30% of the leases we review. For example, are you overpaying rent?

  • Typical overpayment of additional rent is $3,000 per year. Tenants pay for items that they didn’t agree to pay for because they don’t check their additional rent statements against their lease.
  • Time and time again we see base rent payments $1000 or more per month more than is typical for a tenant’s market because tenants don’t understand the realty market or lease negotiation strategy.
  • Frequently tenants pay more than the lease indicates simply because the lease has been misread. A 200 square foot mathematical error costs a tenant $6,000 each and every year! Latent issues in one form or another appear in almost every lease we review and include a collection of very nasty “traps” which like land mines are set years in advance and surprise tenants at an inopportune time. For example:
  • Can you assign your lease, or are you “on the hook” long after retirement? Can your landlord terminate the lease instead of agreeing to assignment?• Did you agree to overpay rent at term renewal?
  • Can your landlord kick you out or move your practice at your expense “out of the blue”?

As you read this, are you thinking “not me?” Baloney.

Very likely your lease DOES contain at least one of the problems indicated above. Administering your lease on a periodic basis will save you thousands of dollars by identifying and enabling you to deal with issues on a proactive basis.

Every lease should be reviewed by a skilled, experienced and capable professional within the first 18 months of the tenancy, and once a year each year thereafter.

The review should take no more than two hours and should identify material issues to be corrected now or at some future point.

Jackie Joachim, COO ROI Corp

JACKIE JOACHIM

Jackie has 30 years of experience in the industry as a former banker and now the Chief Operating Officer of ROI Corporation. Please contact her at Jackie.joachim@roicorp.com or 1-844-764-2020.

Share:
Rate:

0 / 5. 0