Dame Mary Perkins on proving her Specsavers’ business model [Video]
The founder of Specsavers explains how she had to prove that lowering prices and attracting more customers made business sense
Dame Mary Perkins explains that Specsavers first stores were “completely company owned in” her name “because if you want someone to join you on a partnership and they’re going to pay money for that partnership you’ve got to be able to prove to them that… you could make a very good living”.
Perkins decided there was a better model for running an opticians than “charge a high price, see 20 people a week, make a good living” – “treble the number of people” and “drop the price” and you “can still make a very good living”.
As it was a new way of doing it she had to “prove that… for the first year… to get all the profits to show them this is a good business”. As Specsavers is now one of the biggest names in the industry, it’s safe to say her model worked.