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Loan for Eyewear Business

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The overall consumer base of eyewear business has been expanding due to the customer. The business volumes of the online businesses especially have been increasing because of the ease available to the customers. The vendors also reduce their costs. The important players in this segment are aggressively marketing and pursuing promotional campaigns making e-retailing and online advertising more popular. The sales of the online segment are sure to rise significantly in the near future.

Eyewear business can be classified based on the segmentation as follows. 

  • Product: Sunglasses and frames; contact lenses; corrective glass products.
  • End-user: Unisex, women or men.
  • Distribution channel: Offline; online.
  • Geography

You have a great scope to make a profit in this business with some basic knowledge about glasses and power. Understand the business in detail to start one and march forward as a successful entrepreneur. 

Trends in Eyewear Stores and Business 

  • Optical stores v/s big chains :

In this market, the large chains do have an advantage over optical stores as is the case in all businesses. However, this may only be a myth in this business. Primarily the problem is felt due to the ‘low’ prices offered by the optical chains. But on analysis, it is found that this is so in only a few hi-fi discounted sale campaigns. Such deals do help the large business to get the customer inside the store for a deal or so. But the customer does not expand his/her cart for other products. Further, the stores can seek one of the many available financing options to get funds which can enable them to get hefty discounts from the whole sellers and becoming more competitive.

Thus it seems possible that the optical stores can compete with the big chains.

  • Generation and customer-centric

These days with tough competition in the optical frames and lens business, and the increasing fashion consciousness of the young generation, the optical stores have to keep themselves updated with the latest technologies and trends. To attract the young generation not only the optical, but the interiors of their showrooms have also to be designed to the latest trend. This is not easy for every shop owner, consequently, they have to rely on loans for financing. This also enhances the price of the spectacles, but the present young generation is so obsessed with fashion that they are not bothered about the crunch of their pockets. Besides, not only the young generations but also the shop owners are also getting easy business.

  • Mobile/Online services 

In spite of the above, the business houses also have to spend on mobile ads and online websites for advertising about their products, showroom ambiances, location and price to attract customers. The electronic media not only helps the customers, but it also helps the business firms to learn about the latest technologies and trends so as to enable enhance their business strategies and also shop for themselves. With the tough competition these days it is extremely vital for all business to spend on upgradation of their business, be it with the help of loans.

Need for a business loan for an eyewear business 

  • Technology: With the gigantic advancement in technology it is required for all business owners to ramp their plan and go with the flow. People have started looking for optical stores with all the latest amenities. Hence one must apply for funding to renovate as per the latest trend. 

  • Marketing: Due to competition even after obtaining a brand, marketing must continue in a different mode to sustain in the business. There are several ways to market including the hottest social media method. Invest some money in this kitty to make your ROI better

  • Plans for Expansion: Growth and expansion are integral parts of the business. Be it the optical store owner or ophthalmologist, everyone wants to expand their business and practice. The challenge in this is added upon by unexpected expenses. This compels many business owners for opting optical store finances to make sure there are no hurdles in their way to success and growth.

  • Importance of inventory: Inventory is a vital part of the retail business. Optical stores are no exception to this. Sometimes the misbalance is caused by misanalysis and ordering of certain not very popular items. This may, in turn, lead to wastage of capital. So various optical stores are opting for an inventory management system to prevent any negative impact on the business. Optical store financing is also an alternative.

  • Operating Capital: In case of any small business, maintaining positive cash flow is very important. That makes the need for maintaining a balance an operating capital necessity. Optical stores also operate on this ground rule of business.

Bank Vs Private Agencies for Loan 

It is important for business owners to look at the many clauses and several hidden conditions before applying for a loan. Banks in India abide by the guidelines of Reserve Bank and they may be rigid for few people. Hence you can approach private agencies which will offer a loan for best rates, minimal process time and safe transactions. However, there are many spam players as well hence beware and check before you proceed.

 

Interest rates and Fees

We need the following details from you to discuss the rates we charge. 

  • Cash flow
  • CIBIL Score
  • Inventory ratio
  • Loan Sum
  • Net profit
  • Operating principle
  • The time duration of the loan 

Who can apply for a business loan 

It’s our pleasure to provide you with the details of the business. Furthermore, allow us to provide you with the details regarding the application process clearly to avoid any future misconceptions. 

  • Age limit – 21 to 65 years.
  • Minimum ROI 2 LPA
  • Must be a business enthusiast making a profit in the previous 1 year

Documentation Required

  • ID proof
  • Address proof
  • Panoramic map
  • Details regarding bank transactions
  • Proof of IT-return documents
  • Details of financial transactions with banks or any other organizations
  • Cash flow statements
  • Business license

Why choose us

  • Everyone and anyone can start with this eyewear business all across India and we will be glad to help to whenever you need by providing loan assets as we are available in more than 100 cities across the nation.
  • You can reach our website and provide all the details asked there with an online process. Apply with all the documented details through email or one can even upload them. Yes! No face to face interaction necessary.
  • Be ready for a great opportunity ahead. We will get back to you within 2 days. You need not wait for the debts related to finance; it will be carried out quickly.
  • You can check the payment every month using the EMI calculator. It will be an efficient way; you don’t need any calculations to assure.
  • We will allow funding of a maximum of 1 crore that will help you work with the business and grow it eventually.

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