Industry News
Oscar Wylee Surpasses 50 Joint Venture Partners
Australian optical retailer Oscar Wylee has announced the commencement of its 53rd partner in its Joint Venture Partnership (JVP) program.
The Joint Venture Program provides experienced optometrists, optical dispensers and store managers the opportunity to partner with the company and profit from their hard work by owning a share in the store. Since 2012, Oscar Wylee has grown into an international chain of over 125 stores across 3 countries. The eyewear company looks to the long term with a strong vision of continued growth and dedicated service to its customers.
“Oscar Wylee’s JVP program offers a supportive avenue to partnering with a main contender in the optical industry.” says Heba Raad, Optometrist Partner at Oscar Wylee Burwood NSW. “It is both enriching and rewarding, and I can’t wait to see how the company continues to grow!”
Oscar Wylee partners have support from different functional teams at the company and are provided with continuous support from the OW community. This includes retail lease consultation, legal support, national marketing initiatives, and IT support from a dedicated system admin team. They enjoy the excitement and reward of running their own business, motivating, and managing a high performing team, all while receiving a market rate base salary, dividends generated by their business profits, and a low interest rate loan up to 90%, with only a 10% deposit needed.
Each Oscar Wylee store comes equipped with modern Topcon medical equipment and state of the art information technology systems. Most stores have a second and third testing room so there is plenty of opportunity for the partners to grow their business.
JVP stores have been filling up as the program has received a high degree of interest from prospective candidates and the optometry community at large. Due to the volume of applications, candidates go through a rigorous screening process to determine whether they are suitable for the JVP program.
According to the company, Oscar Wylee has grown rapidly since brothers Jack Teoh and Bob Teoh purchased the company with their investment firm and began to expand its operations. At the time, it was a small ecommerce operation of 15 employees delivering glasses over the internet with no physical store footprint. Since then, Oscar Wylee has grown into an international organisation with 125 stores and over 1000 team members across Australia, New Zealand and Canada.
