Four generations,
that’s a long time to have a thriving family business! It all
started when Hyman Moscot, the great grandfather of the brothers
currently managing the Moscot optical business, emigrated to the United
States and started selling eyeglasses from a pushcart on Orchard Street in
Manhattan’s famed Lower East
Side.
Economic ups and downs, the family business
has weathered them all—The Great Depression, World Wars I and
II, booms and busts and multiple recessions, including the most recent
one that some have labeled The Great Recession—through them
all, the subject of our Cover Story this month has not only survived
but has succeeded and expanded.
Today, Moscot
operates two storefront locations in New York City while also managing
a strong retail e-commerce presence and a global eyewear brand
that’s sold throughout the world and has proven successful
with trendsetters and celebrities.
What’s
the secret? Well, there’s actually really no secret at all,
just good business. When talking with one of the fourth-generation
leaders, Harvey Moscot, we found that much of what he credits his
company’s success to are the same business practices we
discuss in every edition of Vision Care Venture—establish a
mission statement, exceed customer’s and business
expectations, give back to the community, and, most importantly,
establish a loyal clientele and generate referrals based on integrity
and expertise, passion and commitment.
We know there
are a lot of family businesses in the optical field, so for further
insight into how to successfully manage them, our list of
“Must Read” books in the Vision Care Venture Toolbox
includes The Wall Street
Journal Business Best Seller, 9 Elements of Family
Business Success by Allen Fishman.
So, if
you’re a multi-generational optical business, if
you’re running a successful business and grooming your
progeny to take over, or if the next generation isn’t even a
gleam in your eye yet, take some advice from the Moscots and the
business values set forth by their great grandfather over 100 years ago
and reflected in their current mission
statement—“To offer the best possible optical
experience to our customers and patients by dispensing warmth, courtesy
and expertise.” It’s worked for them for four
generations; it will surely work for you right
now.
John Sailer is Senior Editor of First Vision Media Group.
Contact feedback@visioncareventure.com with comments and/or suggestions for
future topics.
pushcart on Orchard Street in
Manhattan’s famed Lower East
Side.