Sunglasses have become more than a fashion statement. They are necessary to protect our eyes from harmful UV rays and are an essential accessory for many. According to Statista, the eyewear market will reach US$146.20bn worldwide in 2024 and is expected to grow at a rate of 3.29% till 2029.
This presents a profitable business opportunity. So, if you are also thinking about how to start a sunglasses business, there is no better time to start than right now. The demand for eyeglasses is at an all-time high.
Consumer preferences are changing significantly and people have become more aware of eye health. It is becoming a go-to accessory worldwide and with the rise in e-commerce, there is no better time to enter the market at a global level.
In this article, we’ll discuss how to start a sunglasses business in detail. You’ll get a clear idea about starting your own profitable eyewear business from scratch.
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How to Start a Sunglasses Business
Here are some steps that you can follow when wondering how to start a sunglasses business. Before diving into this topic, you should have basic knowledge related to business. In this article, you’ll find everything about starting a business.
1. Research the Sunglasses Market
Research is the backbone of any business. It helps you gather information related to market trends, competitors, the demand for a product, any potential gaps that you can fill, etc.
Identify Trends:
Your first step should be to get an idea about the trends in the eyewear industry. If you are well aware of the trends, you’ll be easily able to stay ahead of your competitors. Research and see what consumers are looking for.
People are mostly looking for fashionable designs such as oversized frames, retro styles, vibrant colors, etc. These trends keep on changing so whenever you plan to start a business, conduct thorough research about the ongoing trends.
Many people prefer to use eco-friendly products so their preference is to buy accessories made from recycled or biodegradable materials.
Smart sunglasses are becoming extremely popular. These glasses usually have built-in Bluetooth, UV sensors, and anti-glare lenses. These unique features are also in trend these days.
Target Audience:
Now, think about your target customers. Who are they? Defining your ideal customer when thinking about how to start a sunglasses business is extremely important.
Do you aim to target young professionals who are looking for trendy yet affordable sunglasses?
If you want to dominate the market with sunglasses that have durable and UV-protective designs, then your target audience will be customers who love to spend their time outdoors.
If you want to make premium, designer sunglasses then your target audience will be luxury shoppers who can easily afford to buy these sunglasses.
By narrowing your focus, you will be able to focus on designing products, marketing strategies, and pricing that go well with your targeted audience.
Competitor Analysis:
As discussed at the start, the eyewear industry is expected to grow even more in the upcoming years. This means, that as the business grows, so will the competitors.
To stand out in this saturated market, you should study your competitors. Research about their products and identify any gaps. Then check their pricing strategies and see how you can offer a better value. Study them to come up with a unique selling point (USP) of your own which will enable you to stand out in the market.
Research is the first step that you must conduct when wondering about how to start a sunglasses business.
2. Choose a Business Model
You need to decide about the type of business model you want to follow. This will help you to move towards the next step and decide about your work operations and profitability.
There are three options that you can choose from as follows:
Private Label vs. Dropshipping
In a private label business, you will be able to create custom-branded sunglasses by working with different manufacturers. This will let you have more control over the quality and branding but you will have to invest heavily in the start to get inventory.
Dropshipping will allow you to sell the sunglasses directly to your customers without the need to store any inventory. Your supplier will be responsible for delivering the products but you will have less control over shipping times and quality.
Custom Design and Manufacturing
If you have a vision of creating a brand that will earn consistent profit margins and become huge like Ray Ban, Cartier, Tom Ford, etc. then you should design and manufacture your products.
This will give you the liberty to choose the designs, quality of material, features, etc., and also help you stay aligned with current trends. When you think about how to start a sunglasses business that makes the most amount of money, think about manufacturing. If you start a manufacturing business, you will have full control and will be able to earn higher profits.
Wholesale Distribution
You can also buy sunglasses in bulk and sell them directly. This will let you cut costs and earn higher profit margins. However, you will have to store the inventory and be on top of your marketing and sales strategies.
3. Make a Business Plan
A business plan is necessary as it gives confidence to stakeholders and you have a layout of what to do and what your expectations are. A business plan should have a mission statement, market analysis report, financial plan, and a marketing and sales strategy.
4. Find Suppliers/Manufacturers
If you want to source the products directly, you will need to find a supplier otherwise you can find a manufacturer to get the sunglasses made.
Look for a supplier that has a reliable track and fast delivery times. There should be transparency in your communication. Check for reviews, test product quality, request some samples, and compare prices with other suppliers before concluding. You can check websites like Alibaba, ThomasNet, or Global Trade to get an idea.
Just make sure that there is no compromise on quality. This will reduce returns and complaints. If you can, go for eco-friendly materials. This will position your brand as being responsible and ethical.
5. Create a Brand
This is another important thing to consider when thinking about how to start a sunglasses business.
Decide a name for your business and then make a logo that has a modern, minimalistic look and goes well with your brand. You must have noticed huge brands using the same colors and font styles across all mediums they use such as its website, social media, and packaging. This helps in creating a brand identity.
If you deliver in packages that look aesthetic, customers are going to love it. These things can set you apart from your competitors.
6. Register the Business
You can decide what type of structure you want to follow. It can be anything such as a sole proprietorship, LLC, or a corporation. The requirements will depend on the state and country. You’ll need to have some business licenses and permits to start operating.
By registering trademarks for your sunglasses business, you’ll be able to protect your business from being copied by others.
7. Have an Online Presence
People love buying online so your business should have some online presence such as a website. You should get a website with the same domain name as your business. It should have a clean, minimalist look and good-quality images.
Start with social media marketing. This is one of the best ways to get customers. You can use Instagram, Pinterest, Facebook, etc to share photoshoots, behind-the-scenes, styling videos, and customer reviews to get attention. You can also sell through platforms like Amazon, Shopify, etc to reach a global audience.
8. Create a Marketing Strategy and Start Selling
Marketing is essential for any business. According to Statista Research Department, during a survey in 2024, 83% of people selected increased exposure and 65% said that they were able to generate leads because of social media marketing.
When thinking about how to start a sunglasses business, you should set some budget aside for promotions. You can write blogs, create videos, and tutorials to show how to style your products. Partnering with Instagram influencers is another great way. To get customers, you can run paid ads such as Google Ads, Facebook Ads, and Instagram Promotions.
As the business continues to grow, you can think of expanding your product lines with different options like prescription sunglasses and children’s eyewear, etc.
Related Posts
Can you start a sunglasses business?
Yes, starting a sunglasses business is a great idea as the eyewear industry is growing. You can choose what type of business model you want. The rise in online shopping has made this business more profitable than ever.
How much does it cost to start a sunglasses company?
If you are handling everything from manufacturing, designing, etc, then this business can cost you anywhere between $10,000 to $100,000.
How to start a sunglasses business with no money?
You can start sunglasses with no money by using a dropshipping model. There is no need to hold any inventory. You can use Instagram and Pinterest to engage with customers and promote your products.
How to start an online optical business?
To start an online optical business, complete research about your target audience and buy the products. After that, create an e-commerce website and run ads to get customers.
How to Start a Sunglasses Business – The Bottom Line
Starting a sunglasses business is a great idea as it has immense potential and huge profit margins. There is a growing global market which makes it even more attractive.
If you want to do something that involves trendy things and fashion, then you can use your unique skills and ideas to enter this market. Start by carrying out complete research and use smart marketing strategies to stand out in this competitive industry.