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Dr. Calvin Clarke opened Clarke EyeCare Center in Wichita Falls, Texas, back in 1973. His son, Danny, and his daughter-in-law, Elizabeth – who met each other at optometry school – then joined the practice in 1995. 1n 2010, the younger Clarkes bought the business - which provides optometry services, prescription glasses and contact lenses - though the senior Dr. Clarke continues to see patients. The Clarkes began playing The Great Game of Business a few months after the change in ownership.
One of the challenges Dr. Clarke faced in implementing the GGOB was that he could not legally share ownership with his associates through a program like an ESOP. “You have to be a licensed optometrist to own a piece of the practice,” he says. That meant that to get his associates to think like owners, he needed to rely on creative bonus programs to achieve similar results.
- “Profit-Ability”: Year-over-year net profits are up an impressive 60%.
- Cost Containment: Cost of goods sold are 20% lower since the firm implemented the GGOB.
- Growth Spurt: Revenues have spiked a collective 21% since the firm implemented the GGOB.
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