Sunglasses Store Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Sunglasses Store Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Sunglasses Store business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be available for download after your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
In any economic climate, people need sunglasses. These retailers often provide a broad array of brand-name sunglasses to the general public. It should be noted that some sunglasses stores do have an optician or optometrist on staff in order to be able to provide people with prescription grade sunglasses. However, the vast majority of these locations do not have this type of medical professional on staff. In this business plan, we assume that there is not going to be a hired optometrist that will render prescription sunglasses. These businesses typically have a startup cost that range anywhere from $100,000 to $200,000 depending on the amount of inventory that will be carried at any given time. The gross margins generated from sunglasses sales typically around 50% to 70% depending on the brand in the markup associated. Most major sunglasses manufacturers do provide retailers with expansive inventories on a terms basis so that interest is not generally applied to any underlying inventory acquisition. These businesses typically operate within malls as well as maintaining an expansive online presence. A presence online is always necessitated these days given the fact that many people now shop by browsing through online listings. As such, the sunglasses stores that are typically profitable over a long period of time typically maintain a online presence.
Given the strong demand for sunglasses in any economic climate, most financial institutions as well as private investors are willing to provide a strong degree of capital support for these types of businesses. Of course, a sunglasses store business plan is going to be required. This document should feature a three year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to the industry research portion of the business plan, sunglasses stores generate about $2 billion in revenue per year among 9,000 established retailers. The industry employs 50,000 people. In any business planning document, a thorough demographic analysis should be included which outlines the population size, population density, annual household income, median household net worth, and the number of competitors within the market. Examination of how much money people spend on brand-name sunglasses each year within the target market should be included as well. A competitive analysis is absolutely necessary given the fact that the sunglasses store will face competition not only from similar retailers but also among optometry practices that provide these frames in eyewear to the general public as well.
A sunglasses store SWOT analysis is frequently produced in conjunction with both the business plan and marketing plan. As it relates to strengths, sunglasses stores are always able to produce a positive income from the sale of these products. The operating expenses are considered immoderate and the barriers to entry are relatively low. The gross margins from sales are enough to satisfy underlying debt obligations as well as ongoing expenses associated with the business.
As it pertains to weaknesses, sunglasses stores do have a significant amount of competition they face not only from area retailers but also from online vendors. The operating expenses of these businesses can be somewhat high especially if they are located in highly trafficked malls or acquire a highly visible retail location.
For opportunities, the quickest way in which these businesses grow is through the establishment of additional stores. As discussed above, was all sunglasses stores maintain an expansive online presence that sales be made to customers anywhere in the world.
There are no known threats at this time that would impact the way the sunglass store conducts business. The principal threat faced by these companies are the risks of an economic recession where customers will have less discretionary income to spend on brand-name sunglasses.
A sunglasses store marketing plan also needs to be developed. This is going to be the most important part of the overall operation of the business given the fact that these companies need to draw customers on the ongoing basis. Many people at start sunglasses stores will frequently acquire large-scale retail facilities from which they can sell their products. Most of these facilities are located within standard shopping malls, strip malls, or highly visible retail centers. Although this may translate into a higher underlying operating expense – by having a number of people come to the location on a daily basis the risks associated with these types of retail operations is mitigated.
An expansive online presence is also very necessary for these businesses given the fact that they are selling a product that is in demand by people all over the world. By maintaining a highly easy-to-use and e-commerce enabled website – these businesses are able to produce significant sales from outside of the retail locations. This website should undergo search engine optimization while being coupled with the businesses social media platform marketing operations. A presence on platforms like FaceBook and Twitter allows these companies to easily divest inventories of slow to move merchandise. Almost all sunglasses stores, whether it is a single shop or chain, will frequently use social media to announce special deals and discounts on new products as well as slow to move products.
Sunglasses are in demand at all times and people are going to continue to need to purchase these items even during times of economic recession. The moderately high gross margins generated from sales allows these businesses to typically remain profitable and cash flow positive in most economic climates. This can be a highly lucrative small business for an individual that has an understanding of retail operations.