How to Start a Sunglass Manufacturing Business in Bangladesh
Start a Sunglass Manufacturing Business in Bangladesh
Are you looking for the best small-scale manufacturing business in Bangladesh? Starting a sunglass manufacturing business is a good idea. From drab looking ugly pieces to fashion accessories, sunglasses have undergone a metamorphosis. And these are fashionable, trending, elegant, and lighter than their predecessors were not so. It has been possible due to the improvement in design, size of lenses and frames.
As there is a huge demand for sunglasses, you can start sunglass manufacturing business in Bangladesh. Although eye-wear attracts premium prices in the market has many players and there are huge companies and major fashion designers in the eye-wear business, small business owners can produce successful lines.
Produce high-quality attractive products and develop an effective marketing strategy to guarantee success you need creative ideas. You’ll be starting making money when you have built up a good customer base for your product.
Why Start a Sunglass Manufacturing Business in Bangladesh?
Sunglass manufacturing business in Bangladesh is one of the million dollars’ businesses. And the market is expanding along with it increasing demand day by day. Although sunglasses were once a luxury item bought for hundreds of dollars by the upper crust, that’s not the case today.
Apart from the growing economy of Bangladesh, there are increasing fashion consciousness and getting more demand for eye protecting wears like sunglasses. This is because there is an increasing demand for sunglass manufacturing business in Bangladesh.
So, as there are demand and profitability, you can start this business your own. And if you can produce a good quality product then you have a chance to export them in other countries across the world. This may open a wide door of getting earned huge dollars to be financially independent.
Steps to Start a Sunglass Manufacturing Business in Bangladesh
Not only helps protect the eyes from excessive sunlight but sunglasses are eyewear designed to follow the trend of fashion. But, it’s extended exposure can cause soreness, headaches, or even permanent damage to the lens, retina, and cornea as the bright sunlight can be merely a distracting annoyance.
So, there are demands of good quality sunglasses and you should keep it in mind while starting a sunglass manufacturing business. Apart from these, there are many steps and procedures to be successful in this business. Now, let’s know what the steps are to follow while starting this business of your own.
First Step: Market Research & Business Plan
Keep it simple when you’re launching a startup of sunglass manufacturing business in Bangladesh. It needs a little bit of market research and you go through online. While checking out similar brands, try to find out what they’re offering.
Opting for a wider range of inexpensive sunglasses may suit you best if you’re selling to trendy teens.
And functionality could trump current trends if you’re selling to active adult men. Apart from these, when it comes about a business plan, it’s important in this business to understand the specific demand and fixing the right business model.
On the other hand, you’ll need to craft a business plan after deciding on the product. Typically, a business plan comes with almost all about your business, including a business goal, marketing strategies, financial analysis, the source of business finance etc.
Second Step: Funding and Registration
Because producers will use different variations, it’s difficult to patent a design. Like other businesses, sunglass manufacturing business also needs capital to invest.
So, you should ensure the sources of the business finance before jump over the business. Also, you should incorporate your business and it’s advisable that you incorporate your business as a limited liability company with a cool name. As you’re going to be a manufacturer, you need a manufacturer’s license along with trade license and insurance cover.
Here is the potential list of your source of fund:
- Personal money
- Bank loans
- Microfinance loans like NGO
- Soft loans from the relatives
- Potential investors
Third Step: Find the Right Suppliers
You need an actual product when you’ve found the demographic. That’s why it’s time to find a wholesaler or manufacturer. If you’re opting to carry luxury products then you may choose to work with local designers. But, you may need to take your business to an overseas wholesaler those who are the largest wholesaler marketplace on the internet.
As sunglasses are relatively cheap at wholesale prices, you can mark them up to make quite a profit. You’re going to need more capital if you’re creating your own designs to be produced by a manufacturer. Rather than funding the project themselves or turning toward investors, choose to crowdsource on services.
Fourth Step: Business Branding
Your customers are not only buying sunglasses but they’re buying a certain feeling as well. It’s your brand that will make the feeling. Your branding has to be extremely strong to get brand loyalty. Whether it’s that of an adventurous backpacker or a 20-something at the mall, think about the type of lifestyle you want to promote then keep sticking with it.
Fifth Step: Marketing
As the influencer marketing has been pretty foolproof for online fashion, social shopping websites are a great addition to a sunglasses marketing plan. That’s why you should consider setting aside a portion of your marketing budget for influencers.
The average consumer is sure to follow if you’ve seen on the internet’s coolest fashionista sites. Apart from these, you should be highly active and collaborative social media channels.
So, repost their images and make sure to give plenty of shootouts as you want your customers to feel appreciated and build a culture around your brand. As prescription sunglasses are recommended by eye doctors, clinics-stores stock a full range of products. You need to produce high-quality eyewear and trending designs to get a piece of the pie.
On the other hand, you also need to use traditional methods, including:
- Newspaper publications,
- Television advertisement
- Radio advertisement
Sixth Step: Materials for Sunglass Frames
Give a thought to the type of material used for the frame to create a unique piece. When you need them, you’ll find a number of materials manufacturers have introduced into eye-wear. Although common types are titanium, ceramic, fiberglass, and wood, other frame materials are a horn, carbon fiber, and steel.
Let’s see the list that relates sunglass manufacturing business:
- Plastic frames
- Gold frames
- Steel frames
- Fiberglass frames
- Wood frames
- Titanium frames
- Carbon fiber frames
- Ivory frame
- Ceramic frames
- Horn frame