Optovision benefits independent optometrists with greater discounts contact lenses, frames, Optovision constitution is designed to ensure that the companys sole purpose is to build a profitable business from facilitating the sale of reduced-cost products

How Does Optovision Work?

Optovision offers a completely new buying group model for Optometrists and is designed to benefit independent full-scope Optometrists in three ways:-

•	by negotiating greater discounts than have previously been available on regularly purchased items (e.g. contact lenses, lenses, frames)
•	by paying an annual Cash Dividend to each member that is directly related to the spend each member channels through nominated Optovision Suppliers.
•	there is no cost associated with membership - no joining fees, no annual membership fee and no turnover-based fees.

In addition, those members who joined at the outset are Ordinary Shareholders of Optovision Limited and, as such, are entitled to receive a regular shareholder dividend in line with normal corporate practice, should the Directors declare a dividend.

The table below sets out the Optovision buying group model - at a glance:

	OPTOVISION MODEL
•	no joining fee
•	no annual membership fee
•	no transaction fees (%age of turnover)
•	membership made up exclusively of independent full-scope Optometrists supplier discounts achieved
•	buying group commission received from suppliers on all purchases
•	Optovision running costs capped by company constitution
•	Cash Dividend paid out to each member every year directly linked to their share of all purchases
•	an annual shareholder dividends may be paid to Ordinary Shareholder
•	value of accumulated equity for Ordinary Shareholders

A membership based loyalty scheme
The table highlights the benefits of the Optovision model from a member perspective. However, Suppliers also benefit from this model as it creates loyalty to Suppliers who are allied to Optovision.

Only by buying from Suppliers allied to Optovision can Optometrists continue to grow their annual Cash Dividend. If they switch to a Supplier who is not allied to Optovision they have every chance of achieving discounts but will not continue to build up their personal Optovision Cash Dividend.

As a consequence, Optovision is seen by Suppliers as a pioneering Loyalty Scheme - one of the key reasons they are keen to invest in significant discounts to members.

Optovision’s Sole Purpose
The Optovision constitution is designed to ensure that the company’s sole purpose is to build a profitable business from facilitating the sale of reduced-cost products or services to members - and members share in that profit, making both the discounts negotiated and the Buying Group Commissions received by Optovision a real benefit for all members. Optovision will not seek involvement in any activity that is not specifically related to increasing practices’ profitability. One exception to this rule is that Optovision can act as a voice for the independent full-scope sector of the profession.

An example of how Optovision can work for you:
Imagine that you currently buy $2,000 worth of products from one of Optovision’s nominated Suppliers on a monthly basis. You receive no discount but may receive some form of bonus stock and/or cash rebates, depending on the size of your purchase orders. Either way, under this example you are spending $24,000 per annum.

Under the Optovision model, the picture looks very different:-

Optovision model - $2k monthly spend	Monthly	Comments	Annualised
Expenditure:	$2,000.00		$24,000.00
Save 15% on invoice:	$300.00	= Immediate saving	$3,600.00
Total cost reduced to:	$1,700.00		$20,400.00
4% of spend paid to Optovision as buying group commission:	$68.00		$816.00
Your personal Cash Dividend Pool after 50% Optovision running costs have been allocated:	$34.00		$408.00
Your personal Cash Dividend - Fully Franked after Company Tax @ 30%:	$23.80	= cash dividend per month	$285.60
Total Value of Discount, Cash Dividend and Equity Pool	$323.80		$3,885.60
This represents a total saving over pre-discount expenditure of:	17% (16%**)		17% (16%**)
In addition:	no annual membership fee		no annual membership fee

** This is a fully franked (after tax) amount - or 17% on a pre-tax basis.

What do members have to commit to on joining Optovision?
Members of Optovision only benefit from their membership if they buy products from Optovision’s nominated suppliers. This is what delivers cost savings to members - and ultimately the annual Cash Dividends on your practice’s personal account.

Many prospective members may already be a member of other buying groups and we do not restrict you from being a member of another group. The other membership groups provide some excellent training and marketing services for practices to make use of - something that Optovision conspicuously will not engage in.

Who controls Optovision?
The Board of Directors ultimately controls Optovision and is governed by the constitution of the company. Directors can be appointed and removed by Ordinary Shareholders only, in line with normal corporate process.

Members wishing to become involved in Optovision at Board of Directors level should put forward their name - or recommend others - via the email address set out below.

Optovision Limited
ABN 12 111 513 243
GPO Box 1398, Melbourne 3001 Victoria
Please contact us at any time, details below:
T: 03 9640 0140
F: 03 9600 0783
E: info@optovision.com.au
W: www.optovision.com.au