sunglasses business plan

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Sunglasses business plan essay american university

Sunglasses business plan

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The essence of this strategy is based on building a very strong brand that consumers will associate exclusively with the non-prescription eyewear industry. Here are three outstanding examples of a business taking a product that was stagnant cartoons, watches, and ketchup and returning in to a period of growth by redefining it in consumers minds cartoons for adults, watches for fun, craft food.

There are many tools that can be used in order to execute a Breakaway strategy. Our plan will be focused around three main areas: brand building and protection, viral marketing, and providing value to our customers by offering tips, tutorials, and other fashion and beauty information. Brand Building and Protection One of our first tasks is to develop the logo and packaging that will be associated with Pogo Eyewear products, materials, and web content.

Once we have the initial branding package completed we will develop awareness through selective online advertising. We will protect our images, and trademarks, by filing them with the appropriate legal authorities. Viral Marketing Pogo will utilize online networks, blogs, and discussion groups in order to develop brand awareness. In addition we will offer free product samples to opinion leaders actors, the media, etc.

We will seek to place our product in features or segments in mass media such as news shows and magazine articles. In addition, we will develop promotional videos which will draw attention to our brand through channels such as YouTube and our website pogoeyes.

Our information will emphasize how adding glasses to your wardrobe can dramatically improve your appearance. Glasses can add sophistication, playfulness, or glamour to your look. Our website will also have specific video tutorials that cover topics related to eyeglass selection.

We will have tutorials to cover topics such as face shapes, eyeglass materials, and eyeglass colors. Consumers will have the opportunity to learn how our various products may suit their specific features. Pricing Part of our Breakaway strategy is to differentiate the Pogo product based on price. Traditionally if you wanted to purchase a set of non-prescription eyeglasses you would visit an optometrist and place an order for prescription frames with non-prescription lenses.

This pricing strategy is not conducive to owning eyeglasses as a fashion accessory for the majority of people. Few people can afford to spend hundreds or thousands of dollars on eyeglasses as a fashion accessory. Our plan is to make non-prescription glasses available to middle and lower income individuals.

At this price we hope to allow our customers to add 2, 3, or 4 pairs of Pogos to their wardrobes. Distribution Channels Another way for Pogo Eyewear to differentiate its products is with distribution. This distribution method is outdated and inefficient. In this setting consumers often feel pressured by commissioned salespeople. Our website will provide a rich shopping environment offering customers tips and advice on how to properly select glasses for fashion.

Consumers can make their purchasing decisions based on what they like, not what a salesperson pushes to them. Our customers are invited to take as long as necessary to make their buying decisions and will be able to create and save shopping carts and wish lists so that they can return later to shop and complete their purchases.

Once the Pogo brand and customer base are developed 1 — 2 years we plan to expand distribution to independently owned and regional shops and boutiques. Please note that sales volumes could vary significantly from projections. These numbers do not account for the potential to land a large national retail account such as Target. The day to day operations of Pogo Eyewear will be eased through the use of technology. We will receive daily updates on customer inquiries from the call center. Our website will handle the processing of customer transactions and we will receive placed orders each morning for the prior day.

Orders will be processed and shipped immediately from our warehouse. Initially orders will be processed by William. Once sales volume increases we will hire part time employees to process outgoing orders and returns. Other operational tasks involve marketing including making appearances at events, public relations, trade shows, and distributing samples.

These duties will be executed by William. Production Our frames will be manufactured by third parties in other countries — primarily China. Once we receive the finished frames we will send them out to our optician to have plastic lenses installed as necessary. After this process is complete we will package the products in our warehouse and prepare them for shipment. Because our business will be conducted almost exclusively online warehouse location is not important.

There is an abundant supply of cheap space available locally. Legal Environment Pogo will include a disclaimer with each of its products that reminds consumers that our product is not designed for children and is solely for fashion — not to correct any vision problems.

This should protect us from many legal issues. We will not offer a warranty but rather a 30 day money back guarantee. Consumers must pay return shipping on their returns. Of course we will always have to deal with the implied warranties of merchantability and fitness for use but we do not foresee significant legal issues arising as a result of consumers purchasing our products. We will not have customers visiting our warehouse, but deliverymen will visit so we will carry a liability insurance policy as well as a policy to cover our inventory.

Our employees will be covered by state workers compensation insurance. Once we have finalized our logo we will have it registered with the U. Patents and Trademarks office in Washington D. Because products will be shipped from our location in Washington primarily to locations out of state we expect minimal if any state tax liability. We will outsource call center functions which means that the only physical labor required will be to receive incoming inventory shipments, prepare orders for shipment, and actually shipping the orders.

In addition we will need to process returns. Initially these functions will be done by William. There is a large supply of available employees locally due to the fact that there are three colleges in Walla Walla and other job opportunities are scarce. In addition there are a significant number of seasonal employees in the agricultural industry who are always seeking employment.

In the future we may bring the call center function in house which will require the hiring of numerous employees and managers all of which can be procured locally. In addition we will likely hire an operations manager to oversee processing of orders and shipments once demand increases. This will free up the owners to be able to focus full time on marketing, public relations, and other promotional responsibilities.

Inventory At Pogo Eyewear we will be selling a fashion product which means that trends and tastes can easily render our inventory obsolete which is why we will keep inventory to an absolute minimum. We will fastidiously monitor customer response and demand for various designs and adjust future inventory decisions accordingly. Initial inventory levels are set at 3, units which is enough to cover the first four months of projected sales.

Initially we want to have some extra inventory on hand in order to accommodate for any unexpected spikes in sales. The management at Pogo believes that in the fashion industry inventory is a liability rather than an asset. We must attempt to walk the fine line between being out of stock and having obsolete inventory sitting on the shelves because of ineffective ordering.

In the beginning inventory turns will remain around 3 or 4 because sales will likely be volatile from month to month in the beginning. We will target 10 to 12 inventory turns per year after operations get up and running. Inventory lead times vary by model and supplier anywhere from one week to five months.

We plan to promote Pogo Eyewear as a great gift. As a result we expect inventory levels to increase during the holiday season from late October through year end. Kinzel has significant business as well as finance and accounting experience. Bill has experience and knowledge with all aspects of business operations and management including: accounting, payroll, tax reporting, purchasing, material control, information technology, legal contracts, and human resources.

In addition he has experience as the founder of a tax service in Spokane, WA and as a franchisee operating an Avis rental location in Spokane, WA. Bill works a flexible schedule in the retail industry in Walla Walla. Start up Expenses and Capitalization. The startup expenses will be funded by an investment from Bill as well as other equity investors. Forecast Profit and Loss See Appendix for forecasted profit and loss statements. Please note all statements are on the cash basis.

Other options include waiting until the end of the third year to execute a corporate share repurchase or selling the business entirely to a third party. Assuming a 2. Open navigation menu. Close suggestions Search Search. User Settings. Skip carousel. Carousel Previous. Carousel Next. What is Scribd? Pogo Eyewear Business Plan. Uploaded by modernmagnate. Document Information click to expand document information Description: non prescription eyewear business plan.

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Assignment 1 Answer Bbps Strategic Management. Jump to Page. Search inside document. General Business Description Pogo Eyewear will be in the business of retailing non-prescription optical grade eyewear to consumers throughout the world. Products Our frame offerings will fall under three different categories: Intelligence, Fun, and Glamour.

In the future we may expand our target demographic to include men as well as older women. Operations The day to day operations of Pogo Eyewear will be eased through the use of technology. Suppliers Initially our products will be sourced exclusively from two different suppliers: Alpha Viana Inc.

Ali Shan. I had a Holden EK which I painted our logo on and that started getting alot of heads turning too! It was also great for photo shoots. Before I could take another bite, he called back and said I need to pack up and get to the airport! I knew this would be a great opportunity so I got moving! I was excited to get into stores like Sunglass Hut, and OPSM, but in the end their contact was simply not interested in getting into sustainable products and we mutually parted ways.

That was a bit of a bummer, but the brand had exploded in Australia and thanks to the airing of the Shark Tank Episode, traffic spiked and we had over 24, visitors on the site during the first 20 minutes of the episode airing. Building a website is imperative when launching your business, and with the right tools in place, this can be a simple task to check off the list without having to hire someone.

To learn more about how to build a stellar website with little stress, we give you all the details on this step-by-step guide. There are a ton of different websites platforms out there, and it's important to choose the right one that will set you up for success. Shopify is most commonly used for eCommerce boutique businesses and Squarespace is most commonly used for physical storefronts. Website: woocommerce. Shopify is one of the 1 leading platforms for e-commerce businesses.

Website: shopify. Shopify is an easy to use software with great add-on apps so you can build your ecommerce business exactly how you like it. And it intergrates with our accounting and logistics platforms. Xero, Auspost, DHL. As well as most sales and marketing channels. It freed up so much time working in the business, allowing us time to focus on growth and brand awareness. With my basic technical skills, I built a great site. The one we still have. There are various different marketplaces that you can effectively sell and promote your sunglasses business, whether that's local or online!

In addition to selling your products directly on your site, you may want to consider selling on Amazon to reach a wider audience and attract new customers. Follow these instructions to get your product listed on Amazon or check out the video below on how to get started:.

I dedicated myself to becoming an Amazon expert. I listened to all the podcasts and read all the blog posts I could find. Shoutout EcomCrew I took the basic fundamentals that are out there and I added a couple of my own twists.

Amazon brings me, brand new customers, every day for very little acquisition cost. Read more about amazon tips here. Etsy is one of the most common marketplaces for this business type, however, there are some tips and tricks from other founders you'll want to consider prior to listing:. The other camp is those that refuse to use Etsy at all. Etsy is a marketplace, with a built-in audience that is often searching for exactly the product you make!

Both camps are making the mistake of not diversifying their markets. The more engaged list of emails, the more engaged customers, which ultimately leads to more sales. One of the best ways to start growing your list is by providing your customer with something free or discounted in return. Here are the most common types of email campaigns you can send to your customers and their benefits:.

Here's a great resource for finding curated email designs, for all types of email campaigns! The abandoned cart workflow is one of the most effective strategies for turning your lead into a customer, and a powerful tool to have if you're an e-commerce business. Think about all the times that you went on a shopping frenzy only to add items to your cart and then either forget or realize nows not the right time to pull the trigger. Then, minutes later you receive an email saying "Hurry up!

Implementing this workflow can automatically trigger this for your business every time a customer abandons their cart. Here's a great example of an abandoned cart email from Brooklinen :. Klaviyo is the ultimate ecommerce marketing platform for online brands of all kinds and all sizes.

Klaviyo makes it easy to store, access, analyze and use transactional and behavioral data to power highly-targeted customer and prospect communications. Website: klaviyo. They are a great tool if you are just getting started with email marketing as they have a pretty generous freemium plan.

MailChimp falls short in its pricing model because your costs will skyrocket as your list grows, and the automation features are limited. The free plan, up to subscribers - what you get. Website: mailchimp. SEO is not just about driving traffic to your site, it's about driving the RIGHT traffic to your site , and ultimately, converting leads into customers.

One of the most important aspects of SEO is understanding what your customers are searching for, otherwise known as "keyword research. Finding keywords is an important piece of the puzzle, but Google also ranks your site based on the actual content you produce, as this is what your customers are reading and engaging with. There are various different "forms" of content that you may want to consider diversifying on your sites, such as blog posts, articles, studies, and videos. If and hopefully you are publishing content frequently, it's important to stick to a schedule - this helps build brand trust and easy user experience with your customers.

Backlinks are an important piece to SEO, as they allow for other websites to link to your content. Search engines recognize that other sites are essentially "verifying" your content and essentially rank you higher because of this. For example, if a highly valuable and credible site like the New York Times links to a page on your website, this could be remarkable from an SEO perspective.

Aside from organically getting mentioned from other sites, there are other ways that you can increase and earn backlinks:. Right from the start of my store, I implemented good SEO practices like writing down alt tags and descriptions and compressing images. Not bad. Social Media Advertising is one of the leading ways to get the word out when it comes to sunglasses business. There are various different Social Media platforms available to you.

Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you. Partnering with like-minded influencers within your industry is one of the most effective ways to grow your social media organically.

Industry influencers already have an established and loyal following. With one post, your product immediately establishes a connection with a brand new audience. It's that powerful. When finding influencers to promote your product, do your research and make sure that their following will actually be interested in your product.

It's easy to be blinded by any influencer with a huge following, but if those followers don't resonate with your product, there may not be any value there Sure we sacrificed sales, but we kept our integrity, played the long game and people saw and appreciated that, and really began emotionally investing in the brand. The most tried and true way to grow a sunglasses business is through word of mouth - some entrepreneurs would say it's more important than all social media.

We really only have 2 tools to attract and retain customers. The first is word of mouth. They find us by walking past one of out boutiques or they have been following the brand after hearing about us via some kind of press. Our best retention tool is customer service.

Some of my best customers started off as customer services disasters. But by taking their concerns seriously, and by problem solving and by working with them we are able to reassure them and solve their problems. In fact if you look at the comments on our Facebook pages clients often talk about our customer services.

This makes me very proud! This insight goes into each new collection that I design. Oftentimes, it's easy to find yourself focusing on generating new customers, vs retaining your current ones. That's not to say that finding new customers and revenue streams is not important, however, the easiest and most inexpensive source of new revenue is right there in front of you.

Adding new products to your business is a great way to expand into new markets and grow your business. It's important to note that adding new products and diversifying may not be in the cards for you right this moment, and that's okay. You can always consider it down the road.

As a sunglasses business, there are some tools and platforms you may want to consider when getting started:. Join our newsletter and receive our handcrafted recap with the best insights shared by founders in Starter Story each week. Using Klaviyo will open up a massive, untapped sales channel and bring you closer to your customers!

We've interviewed many impressive businesses who swear by the results of the product, including Brumate , Beardbrand , and many more. Level up your email marketing with Klaviyo! Join Starter Story. If you are a human, ignore this field. Start A Sunglasses Business. Want to grow your business? Join the , businesses using. Gia Paddock, founder of Boutique Rye explains how they came up with the name of their business: What took the longest was deciding on a name and our logo; I wanted it to be meaningful, and I cared so much about what people thought.

Design Early prototypes were a bit hard, my friends and I were running some old CNC machines and they did the trick but we quickly discovered that without the right material and methods, the sunglasses would not be stable. Website Trademarks and startup costs were fairly minimal and the real output was in time, research and trial and error.

Packaging Packaging was another challenge early on. It was a devastating time for us and one we were not sure we could survive. This is, of course, a very high-level overview of the importance of inventory control. Here are some of the main reasons most e-commerce businesses are using Shopify: Geared towards supporting store owners.

Provides a simple way to launch and manage your online store Customer support is off the charts live chat Easy to use - You don't have to worry about the technical side The design is clean and mobile-friendly. There are also hundreds of templates you can use. Easy integrations and additional channels ie. Amazon, email marketing integrations, Facebook, etc. Founder, Marc Debnam on recommending Shopify The best move we did was to switch to the Shopify platform in Everything became simple.

Platform Highlights: Manage and send all your customer communications from a single platform—email, SMS, app and web push notifications Send impactful, on-brand promos and email newsletters Save time with email and form templates Have a one-on-one conversation with every customer Leverage pre-built ecommerce email automations or customize your own ideal customer experience Optimize for email revenue, not just clicks and opens Improve email deliverability with targeted segmentation that updates in real-time Enhance your website with a variety of form types: flyouts, pop-ups, and embedded forms Sync your Klaviyo segments to Facebook and Instagram advertising campaigns for better targeting, lower CAC, and higher ROAS Leverage predictive analytics, like predicted next purchase date, predicted gender, and smart send time And more!

Up to contacts: Free! MailChimp is the gigantic elephant-in-the-room leader in the email space. MailChimp has a couple really good things going for them: Very good reporting for a free tool One of the best drag and drop editors - makes it very easy to send newsletter. This tool is best for: small businesses or just getting started. Great photography and videography is key, as is smart copy. Make sure you have good offers. There have been many times where we have been tempted to do this but stayed true.

Useful, convenient, and free:. Free Looking to start a business? We put together 20 businesses you can start from home. Join our free weekly newsletter and get them right now. Leave a comment Your email address will not be published. Become a premium member to get full access.

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Game theory research paper This then increases your chances to build a profitable sunglasses brand in general. What are some insider tips for jump starting a sunglasses line? February 1, at am. We will receive daily updates on customer inquiries from the call center. Within one year of startup eyeglass.
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Sunglasses business plan Join our newsletter and receive our handcrafted recap with the best insights shared by founders in Starter Story each week. Business Insurance for Sunglasses Line. It also gives you data that can be used for ads. With my basic technical skills, I built a great site. Now though glasses have evolved into a fashion statement for those who need them.
Sunglasses business plan In the future we plan to expand distribution to independent accessory shops and select national chains. Trademarks and startup costs were fairly minimal and the real output was in time, research and trial and error. Below is mla format titles eight-step guide to starting a sunglasses business. How much can you charge customers? Many businesses design their own packages using design software and tools. Our information will emphasize how adding glasses to your wardrobe can dramatically improve your appearance. Each category will contain five to ten different frame designs and sunglasses business plan frame will be offered in a variety of different colors and finishes.

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