Today we’d like to introduce you to Nikki DeMeglio.
Hi Nikki, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
I was recruited in 1990 when Lenscrafters was expanding the 1 hour optical concept across the country. At the time I was working in the K-Mart garden shop and the rest is sort of history. I moved on to work for a large opthalmologist group, then to a small town independent optician, then to a hospital clinic system. Then the clinic system decided to close their opticals, I knew I was ready to go out on my own. Not knowing how that would look, I packed up everything the clinic was throwing out into 8 totes and put them in my garage until I found a space to open up. That’s where I started. On severance with 8 totes of supplies. It’s evolved over the years to a nicer space, an incredible group of colleagues and now to a second location.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
The road to success is humbling. You never know how to do ALL the things, you know how to do YOUR thing. I had to learn everything from what worked in marketing, to the requirements for registering businesses, paying taxes and accounting processes. I struggled through a divorce 2 years after opening, then a year later, building a new store and moving locations. I struggled with profit for YEARS until I learned a different way of accounting. I made purchases that didn’t turn to profit. It’s all an exercise in faith, and a lot of grace to let yourself learn those lessons.
Alright, so let’s switch gears a bit and talk business. What should we know?
I come from an industry that is wildly dominated by one large corporation. They inhabit the entire space of optical from manufacturing, insurance, retail and product licensing. I created my business completely to be antithesis of the big box store, and the anti-doctors office. Eyewear is a very personal reflection of each customer. It’s a necessary item but it can be so very much fun! Our customers enjoy taking advantage of multiple pair discounts to build a wardrobe of great styles. We set ourselves apart by providing frames that are designer-to-the-trade. This means they are small batch crafted by actual people generationally trained to make amazing frames. That doesn’t mean they cost more, they just hold up better and the styling is impeccable. We are independent to our core because we know that the consumer pays very high prices for branded lenses that the consumer would never be able to discern. Instead of a menu of two or three lens designs, We curate our lenses for each customers lifestyle and refuse to let insurance companies compromise our values on that point. Our opticians are trained to profile each customer for their needs and address those concerns with customized lenses. Occasionally that includes custom frame adaptations for craniofacial anomalies, eyewear for babies, specialty lenses for migraine and seizure sufferers and myopia control for children. We have the largest collection of pediatric eyewear in the Twin Cities and we are recognized by most pediatric opthalmologists in town as the most knowledgable when fitting kids eyewear. At the end of the day we are all about style, substance and value for your investment.
Do you have any advice for those just starting out?
I thought I did all the research before I opened my store. I know my craft inside and out. What I didn’t understand was how to turn a profit. Mentors, coaches and my accountant all told me to pay the bills and what was leftover was mine to keep. It’s truly a lovely concept in theory. But when you have inventory and a constant stream of expenses tied to a product that is a very difficult thing to achieve. After NINE years in business, struggling my fool head off, I read Profit First by Michael Mikalowicz. After doing the worksheets, crying in the corner for a minute, I got to work and did the things. First year I paid off $45,000 in business debt and the third year I was able to take advantage of the opportunity to buy another location.
Wish someone had told me this first year.
Pricing:
- Frames-$99-$800
- Progressive lenses $519
- Kids packages $259
Contact Info:
- Website: https://www.eyestylesoptical.net
- Instagram: https://instagram.com/glassesgriffin
- Facebook: https://www.facebook.com/EyeStylesOptical
