Darrel Fraser, the experienced dental lab technician who founded Laserfix, an innovative franchise that utilizes lab machinery to fix glass frames.
Laserfix, a small eye glass frame repair business run by the seasoned dental technician Darrel Fraser, has always been on the lookout for new business opportunities until he discovered a chance to utilize the rarely used laser welding machine in his dental laboratory. After some research on glasses and experimentation, he started the business with the existing machinery in his lab. Through time and development, Fraser was able to find solutions to new problems such as fixing plastic frames, and is now able to attract many customers that come directly to Laserfix instead of doctor referrals. Based purely on his entrepreneur spirit and the willingness to initiate an exploration into an area foreign to him, the revenue brought in does not seem too shabby either. Furthermore, Fraser also considered the future growth opportunities for both, and concluded that it is much easier to expand on the glasses business, thus why he is now in the process of shutting down his dental lab.
Fraser’s example proved that it is possible to succeed on a new business venture, if the entrepreneur has the ability to plan out his strategies. I believe that the next important thing to consider is that s/he should not expect much in return at first. As Fraser stated, most of the profit he makes is sweat equity, a common occurrence among many new businesses.
Thank you Nancy Lu.
A very good summary of the globe and mail story.