Here, our Optical Shop Detailed Project Report (DPR) deliver after thorough project analysis, which is created based on deep research and rich in graphics and pictorial view and contain required information or data to fulfill its purpose for Bank loan, Government Sponsored Scheme etc.
Our report data is up to date and easily impress your lender as these Optical Shop Project Report made by Chartered Accountants. Project reports having unbeatable quality, extraordinary project reports, trusted by thousands of people.
In our reports, you get every micro detail and accurate level of calculation as per the banking guidelines, acceptable to every bank, Non-Banking Financial Company, Government Departments and other financial institutions etc. These reports are very straight forward contain honest descriptions, neat, readable, and to-the-point. Reports are well spaced with titles and subtitles and are free of language errors.
Our report preparation team makes sure that the report is concise and transmits maximum information with minimum words. It guides you to show a roadmap for your business in the longer term. Every bank always has a look at your project report before they lend out any money. It’s important to have a report that’s clear with simple language, easy to understand and one that will offer a real insight into the business ideas that you have.
Optical Shop Project Report & CMA Data for Bank Loan.
In India, these days the eyewear segment is the fastest-growing sector which is once near to the stagnant market. Around 80% market is for spectacles while the remaining 20% is for sunglasses. This segment has a prestige growth across both the developing and developed economies.
The rapid growth rate of eyewear modernizes living standards, but the market is known by product innovations, exports, and increasing yield. These days global eyewear market experience changes like consumer tendency more towards round style glasses, cat-eye frames, and asymmetrically structured sunglasses. Besides, this also acts as a tool for the protection of your eyes and continuously new styles and trends coming up in sunglasses.
Optical business start in these three different manners:-
- Online eyewear business
- Retail optical business
- Selling frames and lenses in an eyecamp.
This is not only just a business, but it also involves healthcare. Like other businesses, you also need a proper project report for this in which you include patient care services.Firstly, decide basic things like location, budget and place from where you have to buy products. As well as, do proper planning of quality and quantity of products means both expensive and non-expensive but both with good quality. Now, if you are planning for only selling business then refraction equipment like Autorefractometer, Slit lamp, Keratometer, and vision chart etc. is not required, you can sell sunglasses and medical frames for outside glasses recommendation.
If you are not Optometrist or Ophthalmologist, then you need it on a temporary or permanent basis for practising at your shop, and a refraction unit also required. For growing your business on a large scale, keeping refraction unit is important and so many owners do an agreement with a practitioner and hire on a commission basis.
Select a good location
Choosing the right locality is very important and therefore tries to find a place where more crowd available as there are high chances of sale frames and sunglasses. Also, for the customer, it is easy to access your shops. It all depends on your budget, like opening a shop in a VIP area cost you more expenses and order value is also high but opening in a small town or village is inexpensive. Still, you cannot cost higher order value but due to lesser cost turnover is big and gives you success in business and If you are ophthalmologists or Optometrist then its best for you as you are good in practice and popular in between people but if not then it takes time to rise in your business.
It is good for you to start a business near the government hospital where eye-care facility available as you do not need ophthalmologist because without refraction also they can get more customers. Shopping malls are also a good option as you can sell easily fashionable eyewear.
It all depends on the budget to purchase land or take a rented shop. To start your business on your land is good but more costly therefore big optical runs on lease. If someone is an optometrist or ophthalmologist and open a shop where he or she already practices a few times and patients are in good frequency then purchasing land is good otherwise go on a rent basis as it reduces the cost of a new setup.
Look for registration and license.
Registration for any business is very important although no registration needs to open a shop from the health department. Let’s say. An entrepreneur offers to open shop. Then it is important to appoint an ophthalmologist in the shop. Other than this, register your business in shop establishment act 1. Also, inform the local municipality regarding the shop opening. Also, go for tax registration and other expenses to get the proper licensing facility.
Decorate the interior of the shop
For opening any business shop, interiors are very important as it attracts the customer. Secondly, cleanness plays the most important role in the healthcare business. Also, you can take advice from some designer or an experienced person. Inside colour combination, the light, waiting room is important and gives positivity in the customer mind. Several models of showroom pictures available on the internet for reference.
The optical showroom must be spacious for waiting patients, and more display of frames available for customers as this is also a good business technique. Sometimes a small space with a good location can also work positively, but a spacious area helps a lot for man movement.
Measuring tools are the most important part of an optical shop. Therefore, the shop must be well equipped with proper tools like lensometer and others. If your showroom is including with optical, the following instruments are required:
- Trial Frame
- Trial Box
- Projector Chart (Visual acuity chart for distance& near)
Costly instruments you can purchase on the EMI system also. Now a day, computer eye testing in fashion, this is eye test by auto-refractometer. Although it is not 100% accurate, people refer to this method. Only, for this reason, you keep this instrument in your shop. Some more instruments like a 90D lens for retina checkup, Tonometer for intraocular pressure checkup, Ishihara chart for colour vision also keep in your shop, or sometimes ophthalmologists bring with them.
Product and Brand selection:-
A proper market survey is very important before starting a business as this helps to understand people’smentalities. Area, wise product survey, gives you a better idea about people mentalities like branded frames and sunglasses more in sales in metro cities but in the lower economic areas and rural area people go for non-branded products. Now it’s up to you to decide the location for your shop.
You must know the type of styles and price range in a particular area like big optical shops purchase in the bulk of products which reduce the purchasing cost. Still, new owners go for small numbers, size and colour of materials to protect yourself from any business loss. It is also recommended to purchase from the reputed supplier as they give a huge discount.
Marketing is important
Last but not least, marketing is a very important tool for any business. It isn’t easy to run your business without marketing your products. For marketing purposes, you can adopt the following methods like newspapers, radio, television etc. and if you open a shop in a known place, then local people are a good option for advertisers.
Also, go for some opening ceremony if possible and invite some reputed personalities to grab the attention of the people and make some popularity in your area.
Try to provide some handsome services to customers. For example, there is a person who worked as an assistant under ophthalmologist, and after having a nice experience, he started his shop. But the problem is that already three shops present near his shop so the initial two years a very fewer number of patients come to his shop. Every month sales are around 2000-3000 rupees only. For lenses fitting he goes to the city every week and the delivery time is 5-7 days. So there is no profit in his business.
But, after two years he started his fitting service and fitting glasses for other optical also, and this leads to 40,000 rupees turnover in a month. Now he’s providing very quick service like 2-3 days or less, and this helps to increase profits in business.
So, a market survey is a very important part. Secondly, new eye specialistsalways take some time for customer’s trust and thirdly; quick customer service is most important for optical success. Moreover, first fitting services give speedy delivery and more satisfied customers.
Project Report Format
In our project report format, we cover technology details, its diagrams, flow chart etc.. as and when required or deemed fit to include. Also, prepare in-depth financial calculations including CMA which is necessary for the Investor/bank.
Key Points Cover in Detailed Project Report on Optical Shop
As mentioned above, Optical Shop Detailed Project Report (DPR) is a complete package that contains everything that requires getting funds up to 25 Crores (Twenty Five Crores). Checkout our DPR sample to make your vision more clear. Usually, the Detailed Project Report (DPR) is needed when you apply for a bank loan or Government scheme. Project Report Bank aims to create the reports accurately from the start and make sure that businessmen get the right value and results from the reports.
The following are the key points we generally covers while making DPR, whichever relevant to your business :-
- Introduction to Project and Industry
- Executive Summary
- Profile of the business in the country
- Project Evaluation – Social Angle
- Analysis of basic variables
- Socio- Economic Advantage
- Impact on environment
- Foreign Trade Income
- Value addition
- Import replacement
- Technology assimilation and so on
- Present condition of the business
- Consumer Inclinations
- Market Prerequisites
- Market Portions
- Distribution Channels
- Market Qualities of the Item
- Export Possibilities and Global Market
- Marketing and selling game plans
- SWOT Analysis
- Particulars Of Existing / Proposed Bank Credit Facilities (Form – I)
- Projected Profitability Statement ( Form – II)
- Projected Balance Sheet (Form – III)
- Comparative Operation Statement (Form – IV)
- Maximum Permissible Bank Finance MPBF – (Form – V)
- Cash Flow Statement – (Form – VI)
Monetary Projections Details Contains:
- Cost of Project & Means of Finance
- Details of Raw Materials
- Details of Utilities
- Human Resources Planning
- Technical Manufacturing Business Process
- Assumptions in monetary projections
- Projected Sales & Production
- Cost of Production and Profitability
- Fund Flow Statement
- Working Capital Cycle
- DSCR – Debt Service Coverage Ratio
- BEP – Break Even Point Analysis
- IRR – Internal Rate of Return
- ISCR – Interest Service Coverage Ratio
- Calculation of payback period
- Debt to Equity Ratio
- Working Notes for Monetary Projections
- EBIT – Earnings before interest and taxes
- EBITDA – earnings before interest, taxes, depreciation, and amortization
- Cash Burn Rate
- Discounted Cash Inflow & Outflow
- NPV – Net Present Value
- Net Worth
Report Size : 40 – 50 Pages,
In which, Financial Projections : 18 – 20 Pages
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Every financial formula required by the bank is contained in a comprehensive Optical Shop project report. To get the sample financial project report on WhatsApp, kindly share your details with our support specialist and get it easily. Also, you can contact our support specialist by just clicking the HELP button on the bottom right corner of this screen. Our project report assistance helps in explaining the features of the reports to make you more clear and understandable on different project reports.
What are the challenges faced by the optical industry?
The key question within the eyewear category is that the shortage of affordable eyewear and the huge gap between unbranded and branded eyewear is significantly high because of opaque pricing and mark-ups.
Are Indians, brand-conscious in as far as eyewear is concerned?
Yes, today’s age group is concerned about eyewear and aware of modern trends. They started to care about modern brands- styles, high quality etc. Before purchasing, they think about quality and safety, not to think about the wallet.
Definethe price range that Indians are comfortable with?
The price range varies with consumer behaviour, and cities like metro cities prefer for high quality with high range while small cities or village type areas prefer low range cost products.
Sunglasses have become a fashion statement today. Give us some insights into this category concerning the current market scenario?
Today glasses have gone from being necessary to fashion accessory. A few years ago, people spent money on their bags and shoes, but now eyewear is the most important accessory count.
The optical market in India increases by improved products and designs that do not only protect customer’s eyes but helps them to update with the latest fashion. New generation more goes for fashion than protection. The optical showrooms must contain trendy sunglasses with all ranges to fulfil their need.