Project Report For Optical shop
Project report for Optical shop is as follows.
There has been an increase in the need for optics as the population has grown. In practically every neighbourhood, you’ll find a few tiny businesses. There are a few exceptions to this rule, mostly in wealthy communities, where these establishments have lately been established. Quality glasses and optics are to be sold in the projected optics shop. The suggested location of the business is in a commercial market in a residential area with a middle- or upper-middle-class population. Customers will be able to choose from various lenses and eyeglasses that may be tailored to their needs. Buying frames and lenses from wholesalers is a part of this industry.
You may save money by purchasing goods and services from trusted providers. In addition, an eye doctor or eye specialist would be on hand to do an eye exam. 80% of the optical market in India is still unorganised, making it an ample unexplored opportunity. Moreover, half of India’s population is visually impaired. So, the optical industry is in high demand. There is only one optical store per 70 thousand people in India, astonishingly, despite the country producing 30,000 optometrists each year. Since its inception, this sector has grown from a mere gimmick to a vital part of everyday life.
Market potential & Strategy
Customers in the middle and higher middle classes and health-conscious consumers are the primary focus of the company’s marketing efforts.
Moreover, half of India’s population is visually impaired. There is a lot of demand in the optical market, which suggests that this business has much potential and need. There is still a large portion of the optical industry that has yet to be structured. In this business, there are a lot of possibilities to explore, and the number of competent workers is on the rise. This firm has a higher-than-average profit margin, resulting in a good return on investment. Investing in this type of business and providing a decent service to the people in the region results from this. Campaigns and local advertising will be the primary methods of promotion. There will be a lot of emphasis on ads like newspaper inserts, local billboards, and pamphlets. Events like raffles, contests, and discounts will also be used to help develop the brand.
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