BUSINESS HIGHLIGHTS
The Company operates as an independent optical retailer with 1,400 frames and contact lenses available to patients. Additionally, the Company operates a fully duplicated conventional surface and finish lab to minimize downtime due to preventive maintenance or unscheduled outages. The Company is aligned with a separately-owned Optometrist with an adjacent clinic, to which the Company only provides staffing services. The Company’s database contains approximately 15,000+ patients. The Company’s supplier relationships represent most major frames and lens manufacturers, including new digital lenses and special coatings. The Company primarily serves a diversified base of retail consumers (96% in 2024) as well as wholesale customers for optical lab services, corporate accounts for safety eyewear, and staffing services (collectively 4%). The Company's ownership has strategically structured its operations to enable effective remote management.
INVESTMENT APPEAL
• Well-Established Business, Superior Name and Reputation: Founded in 2004, the Company has built a superior name and reputation as an optician, serving customers in and around the Northwestern US. The Company has a very experienced employee base, a full-service lab on site, and benefits from an adjacent Optometrist on premise (separate entity/no common ownership) for patient convenience. The Company has developed and implemented solid processes and procedures that elevate in-store sales closing rates and expenditures.
• Diversified Customer Base: No single customer accounted for more than 1% of revenue during the historical period. The diversified customer base helps ensure that the Company will not be significantly impacted by the loss of a single account. The Company remains resilient during economic downturns, as vision health is an essential need that patients continue to prioritize regardless of market conditions.
• Rising Profit Trend: Earnings as measured by EBITDA grew at a 22% CAGR between 2022 and 2024, reaching nearly 17% of revenue in 2024, expected to be sustained in 2025, and forecast to further improve in the future years.
• Brand-Name Products, Strong Supplier Relationships: The Company offers a wide variety of frames for men, women, and children as well as contacts to choose from. The Company has strong supplier relationships, from which it buys directly, providing a fast and dependable source of products.
