Laser-sharp business vision

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It all started a decade ago, when Vadodara-based Samir Shah thought of adopting laser technology for correcting eye ailments.

Starting off from a family business of selling surgical instruments, Shah has set up a nationwide chain of laser eye treatment clinics and a parallel chain of laser cosmetology centres.

With a net worth of around Rs 20 crore and a cash profit of Rs two crore in the past year, Shah now aims to consolidate his venture.

In the next couple of months, he plans to open India's first hi-tech laser clinic in Mumbai, a one-stop clinic that will treat ailments using laser. The clinic will have 12 lasers equipped to handle any kind of vision ailment or surgery being offered in any part of the world.

"It all began when I went to Germany in 1994 to get a couple of surgical machines rectified. When I saw the technology there, I thought it would be a great idea to provide the same facilities back in India. Things became easier as my wife is an ophthalmologist," said Shah. That led to the setting up of New Vision Laser Centre Private Limited, which now has a chain of 13 laser vision clinics all over the country. What followed was New Look Cosmetic Lasers Private Limited, a chain of 16 cosmetic laser treatment clinics.

Having spent over Rs six crore in the last year on upgrading clinics across the country, the company will spend another four crore this year.

"We have come a long way since 1995, when we set up the first laser eye clinic. Now, with a chain of 29 New Vision clinics, we intend to offering world class services," said Shah, who is managing director of the holding companies.

Over the past decade, Shah has adopted the partnership route. "Except for one laser eye clinic, I hold between 30 and 80 per cent stake in all other clinics, with an average holding of around 50 per cent," said Shah. Only the Bhopal clinic is a 100 per cent franchisee model, he added. Of the 16 cosmetic laser treatment centres opened so far "" the first of which was in Vadodara "" some are either clubbed with or are adjacent to the laser eye clinics. "We have developed the two chains to complement each other," Shah said.