HOW TO START A SUNGLASSES BUSINESS | PART 1
How to Start a Retail Sunglasses Business
One of the easiest and least costly businesses to start-up is the retailing of sunglasses. There are many different options in how you can approach this type of business, and some of these options allow for a relatively inexpensive initial investment with the future promise of high profits.
Find a supplier, remember; it is important to offer a wide and varied collection.
- Offers a quality product
- Prices will allow for good profit
- Good Customer Service
- Easy online or phone ordering
- Offers discount on larger bulk purchases
- Quick delivery
- Offers additional support where necessary
- Has a good selection of styles
- Can give you package deals
Find a HIGH traffic location
- Are there any major events on the calendar?
- Scout it out
- Is there good traffic?
- Is there a place to set-up shop?
- Are there fees or permits necessary?
Get your equipment
- 2or 3 - 6 foot tables. You can get some good “Indestructible” easy to clean tables for a couple hundred bucks each, or find some cheaper ones to get you by at start-up. You can use some type of tablecloth to cover a table you pick up at a thrift store or yard sale
- Banners! Must Have! There are a lot of sign makers out there, or you can buy them from us
- Something to keep your cash in. The shoebox method will work to start
- Mirrors; a few cheap handhelds will work to start.
- Next, I would get a tent
Set-up shop and sell!
Things You'll Need
- When it comes to inventory, you should have as many pairs on hand as possible in order to take advantage of every opportunity to make a sale. Most retailers maintain a minimum of 100 different styles in stock. This also can vary depending upon location and traffic. You will go through more inventory at a busy festival than you will a normal street corner (well…that depends on traffic).
- A very good thing to have! Three 6 foot (1.8 m) tables would be an ideal place to start. Again, you are the boss and can determine what set-up you would like to have, and adjust as you see fit and for what is working for you. Tables and their arrangement will have one thing in common though; you will set your Display boxes on them!
- A Tent is optional, but it makes a better impression and shields you from the sun. It also keeps the sunglasses out of the direct sun so that they do not become too hot to touch. You simply need a 10 x 10 ez-up tent.
- Banners are a must have! Ideally, the banners should be yellow and have easily readable text. The text can simply say “Sunglasses” or you can be creative and add things like “Sale,” “Designer Inspired” or whatever else you think might catch attention. We have a customer who was selling 0 a day. He ordered 3 banners from us and the next thing you know, he was making 0 a day at the same location! That’s right, double!
- You need somewhere to put the money and your starting change! No need to spend a lot, a simple bag or box will suffice as long as you do a good job of keeping track of it. A cash register looks more professional, weather it has an effect on sales or not I can’t really say. Just set up a system that works and feels comfortable for you.
- Totally optional, but can be a good move to capture sales down the road. Optional, but gives a professional appearance.
- Same as business cards. If you are going to go this route, you should make sure the quality is high.
Chair or two
- Only if you are in a mall.
- Absolutely. People want to see how they look. These can be simply hand held mirrors or framed. Be creative and resourceful. I see these things at garage sales all the time.
- Can be good to make your presentation look good, but are totally optional. Why, because of the boxes our sunglasses come in! You get a free display case with every dozen, and we spared no expense in giving you a quality product here. These boxes are the TOP boxes in the industry with great eye appeal. Our boxes each have the inspired by designer name on them and look high class. Our boxes have shown a 12% increase in sales over our competitor’s boxes!
Credit Card Terminal
- Optional, you could go cash only. One thought, however, is that you don’t want to turn away a paying customer. If they want to use a card, let them. You could go all out with a terminal, or you can use a manual swipe with triplicate forms. Another cool way would be to use your Android or iPhone as a virtual terminal! There are a bunch of applications out there that will allow you to accept credit cards wherever you are. The processing rate is very competitive. Here are some links to a few that are recommended:
Android Smartphone Credit Card Terminals
iPhone Smartphone Credit Card Terminals
- Again, optional. You might want to invest in this option as our business grows so that you can accurately track purchases, sales and whatever else you do financially. You could simply use an excel spread sheet to track such things, but it can be helpful to track sales trends and make ordering easier.
- Got a free Saturday? Go make a few hundred dollars!
- There are slow times, and you might get bored. Your customer will appreciate a smile and cheerful attitude!
Show off the product!
Cooler (with beverage of choice)
- Again, like the Business cards and brochures. Can be handy and might even generate sales. We can help, let us know!
- Easy to obtain. Depending on your location and municipality, you may need to register and get a business license. Check with your city, county and state.
- You might need a permit to do business in certain places. Consult your local municipalities with questions.
Video: I'm starting a sunglass company?
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