Optical chain eyes expansion

A Birmingham optical chain has expanded from six to nine practices after securing a £1.4m loan.

Established in 2009, The Eye Collective is a family-run, independent chain that operates nine practices in locations including Birmingham City Centre, Northfield, Stourbridge, Harborne, Selly Oak, and Rubery.

The group secured the loan from Lloyds Bank to consolidate existing funding and purchase additional practices in Hall Green, West Heath and Wythall from the Pabari group.

The additional practices will service more than 5000 new patients annually, as well as hiring an additional three members of staff to work at the Selly Oak head office.

The group offers expert eyecare and eyewear as well as hearing care and diabetic screening, which will be introduced to the practices at Hall Green, West Heath and Wythall.

Founder and managing director Hasanain Jaffer said: “We first worked with Lloyds Bank when expanding in 2012. We were so impressed with the team’s healthcare credentials that we switched our banking relationship to them last year. Our relationship manager Andy Matthews is always on hand to offer practical support and guidance.

“We pride ourselves in demonstrating exceptional expertise and inspiring every patient with confidence and trust in our services. As a result, over the last two years, we’ve experienced a surge in demand thanks to word-of-mouth recommendations. We felt the time was right to expand and broaden our outreach to more people across the West Midlands.”

Jason Farren, business development manager healthcare at Lloyds Bank, said: “The Eye Collective’s expansion shows the increasing demand for independent optician care, despite the dominance of big chains on the high street. Hasanain’s teams provide outstanding optical care and personalised service across their communities and this is undoubtedly part of the reason they’ve been able to grow so successfully in a challenging marketplace.”