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

Eleven optometrists currently operate in Richmond. That's a moderate density—enough that you'd face real competition, but not so crowded that the market is saturated. Each practitioner here serves roughly 1,607 residents, which is workable if you can differentiate on service or location.

The data suggests yes, with caveats. The market opportunity score is 89/100—strong demand. However, the strategique score is 65/100, indicating moderate overall viability. The real advantage is effective density of 27/100: actual competition is much lighter than it appears. Entry is feasible if you can capture unmet demand or underserved patient segments.

Harmony Eye Care leads with 5 stars across 53 reviews. Specsavers at Victoria Gardens Shopping Centre is the volume player—4.5 stars but 275 reviews, so they've built scale. Eyes Optometrists holds 4.9 stars from 53 reviews. Together they set the benchmark for service quality and convenience.

Weekly household income averages $2,577, putting disposable income in the moderate range for Melbourne. That supports routine eye exams and frame purchases, though price-sensitive competition from Specsavers will be real. The population of 17,671 provides a stable base, but margins will depend on your cost structure and positioning.

First, conduct a site audit—map the 11 existing operators to identify geographic gaps or underserved suburbs within Richmond's postcode. Second, review lease options near public transport or shopping precincts where Specsavers and Harmony are anchored, or position yourself as an alternative. Third, check with the Victorian optometry board on registration and any local health practitioner requirements specific to the area.