How many times have you walked through a flea market or the local mall and run across retailers with half-a-dozen racks of sunglasses for sale? It is actually quite common. The question you might be asking yourself is whether you can actually make a living buying bulk designer sunglasses at wholesale and then turning around and selling them at retail.
In a word, yes. Selling sunglasses has to be a viable business or there would not be so many people doing it. The key to making a go of it is to approach it in the right way. By employing sound business strategies that entrepreneurs have been utilizing for generations, anyone can make a living on bulk designer sunglasses.
Olympic Eyewear, a Utah company that sells wholesale sunglasses to retailers, explains the basic concepts of succeeding as a retailer of fashion eyewear:
1. Decide on a Business Model
Starting a new business requires coming up with a business plan. Part of every business plan is deciding on a particular model for sales. A retailer could decide to sell sunglasses in a mall kiosk or at the local flea market. These kinds of traditional settings can work very well if retailers find the right location.
Another option is to sell online. There is certainly no shortage of venues like eBay and Amazon that act as virtual storefronts. The one downside is that those companies take a cut of the action. Setting up an independent store through an e-commerce solution, like Shopify for example, is a way to avoid sharing profits.
2. Do Some Market Research
Before a retailer ever makes that first purchase of bulk designer sunglasses, he or she needs to know what customers are buying. Placing an order blindly is a good way to end up with hundreds of pairs of sunglasses that will not sell. Olympic Eyewear says the best way to conduct market research is by employing three strategies:
- Observing what people are wearing
- Reading fashion magazines and blogs
- Asking friends, family members, and acquaintances about what is hot.
3. Establish a Marketing Plan
Next is the task of establishing a marketing plan. No matter how hot retailers might think a particular product is, bulk designer sunglasses don’t sell themselves. People do not, and cannot, visit a retailer store or website if they don’t know it exists. Marketing is the process of letting customers know where they can buy their next pair of sunglasses. Marketing can be accomplished online, through print advertising, through social media, etc.
4. Procure Basic Financing
Lastly, new retailers of bulk designer sunglasses have to have at least some level of financing in order to place those first few orders. It is important to remember that very few businesses turn a tremendous profit on the very first order. It generally takes multiple orders and months of sales to start seeing a significant cash flow that translates into regular income. And you cannot get there if you do not have financing in place.
You Can Do This
If all you have read thus far does not dissuade you from starting your own fashion eyewear business, you may have what it takes to be successful in bulk designer sunglasses. You can do this if you are willing to put in the necessary time and effort. Succeeding as a business owner is a matter of deciding on a good business model, conducting market research, establishing a marketing plan, and procuring financing.
Customers are out there just waiting to buy your designer sunglasses. Are you ready to give it a shot?