Opening an optometry practice in Frankston, VIC: Market & Competitor Analysis (2026)

Frankston has 18 optometry practices, a high concentration for a suburb of just under 24,000 people. Effective Density, a quality-adjusted measure, sits lower at 34/100, meaning the raw count overstates true competitive pressure — several practices are weaker performers, leaving room for a sharply run new practice to take share.

Only with a clear plan. The Strategique Score of 35/100 rates the market as moderate, not strong, while Market Opportunity sits higher at 53/100. That gap means demand exists but the field is already crowded — worth entering only with a defined niche or service gap, not a straight copy of existing generalist practices.

Solid but not unbeatable. George & Matilda Eyecare leads on rating at 4.7 stars from 78 reviews, OPSM Frankston leads on volume with 124 reviews at 4.6 stars, and Peninsula Eye Optometrists, trading since 1986, holds 4.6 stars from just 18 reviews. A Competitor Strength Index of 48/100 confirms a mixed field of strong and weak operators.

With average weekly household income at $1,383 and a population of 23,586, there's enough disposable income to support premium eyewear and add-on services beyond a standard subsidised eye test. Unemployment of 5.26% keeps demand steady rather than fast-growing, so spending favours upselling existing patients over chasing rapid customer growth.

Pick a clinical niche the incumbents don't own, such as paediatric care or myopia management, since none of the top three competitors push it hard. Locate outside the immediate cluster where OPSM and George & Matilda already draw foot traffic. Build review volume deliberately — Peninsula Eye shows a small independent can hit 4.6 stars without a chain's marketing budget.