Part 2 of 3:
If you are looking to build a successful online business, then selling private label sunglasses is the right direction. It offers you incredible upside to maximize profits, while building your own brand and company!
Using Private Labels to Build a Successful Sunglasses Brand
There are just seven easy steps to starting, growing and expanding any sunglasses designer brand by using private label sunglasses.
As the source of private label sunglasses for various successful ventures, we have put together a list to help get you started!
1. Discover Your Niche Market
In order to truly set yourself apart from the competition, you want to conduct thorough market research to find an opening with the style, the target demographic and the profitability that will serve as the basis of your brand.
The sunglasses space offers plenty of opportunity for niche markets based off the fact that they are the most commonly purchased fashion accessory and the ‘trendy’ styles are always changing.
By finding the right niche style during the right fashion season, you can stay ahead of the trends and maximize your sales before other brands offer similar styles.
2. Find the Sunglasses You Think Will Sell
Once you have identified your niche market, it is time to create a shortlist of sunglasses designs that will be your top-sellers in the upcoming fashion season.
There are a number of ways to select the style of sunglasses that will be popular, including:
- Consulting with a fashion specialist
- Reading through upcoming fashion trends
- Checking look-books for some of the hottest sunglasses brands
- Identifying ‘Best Sellers’ from a wide range of eCommerce shops
- Speaking with your manufacturing partner
One key to remember during this phase is that you want to find the sunglasses that people are willing to BUY, not just those which are trendy at the moment!
You will want to consider everything including the cost of manufacturing compared to sales prices at this time, ensuring yourself that you can offer attractive sunglasses for a price that your target customers are able to afford.
3. Scour the Web for Sunglasses Competitors
Competitor research is key to any successful eCommerce business and the sunglasses industry is no exception.
The sunglasses market can be quite competitive, which is why you will want to look through a wide range of online competitors to see exactly where your business will fit in.
By examining the success of everybody from major retail brands to Amazon sellers using white label sunglasses, you can measure the demand, quality, price points and other crucial factors before going forward with your own venture.
Also, by looking through competitive eCommerce websites, you will gauge what works and what doesn’t when targeting your customer base.
Don’t forget to look through social media pages including Facebook, Instagram, Pinterest and more, allowing you to gain critical insights into how others are marketing their sunglasses and connecting with consumers.
4. Budget for Up-Front Manufacturing Costs
Once you have an idea of the style and selection of sunglasses that your eCommerce store will be offering, you will also have an approximation of the funds needed to get the project started.
By speaking with private label sunglasses manufacturers about initial costs, you will be provided with information about the:
- Startup costs of working with a private label sunglasses provider
- The average cost-per-pair of sunglasses you will be making
- Additional costs relating to materials, special designs, etc.
- The minimum order of sunglasses for each production run
Minimum Order Quantities for Private Label Sunglasses
As private labeling requires customization, production runs, mold creation for each unique style and more, manufacturers will require a minimum amount of pairs to be ordered.
You must take the MOQ factor into account when preparing the budget for your first order with any new partner.
Budgeting and Financing
Once you have compiled all the information, you are able to properly budget for what it will cost to have the first offerings of your sunglasses brands completed.
Now, it is time to make sure that you have the available funds.
If you do not have the cash necessary to pay the up-front manufacturing costs of sunglasses, then you can turn to private investors, business loans and even government grants to raise the funds.
You can also come up with an innovative crowd funding campaign that not only helps you raise money, but also translates into immediate sales that can help you grow your brand!
I'll continue next week..........
Private Label Strategy Part II: Using Private Labels to Build a Successful Sunglasses Brand
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