Sunglasses are our bread and butter at Olympic Eyewear. We are a nationally known wholesaler offering more than a dozen brands of bulk designer sunglasses at affordable prices. Retailers purchase our products for resale to their customers.
Are you an entrepreneur looking to start your own sunglasses business? Are you a retailer looking to add sunglasses to your inventory? Sunglasses are a pretty simple product to understand. But selling them at retail is anything but simple.
We have put together this complete beginner's guide to selling sunglasses at retail. If you are just getting started, strap yourself in and hold on. Getting from that first pair sold to running a well-established business generating annual profits will be quite a ride.
You Need a Plan
The first thing any entrepreneur needs, above and beyond a great business idea, is a plan to execute that business. The U.S. sunglasses market was worth over $5 billion in 2023. And the market continues to grow. It is clear the opportunities are there, but taking advantage of them requires a competent plan.
Business plans are expected. They are also required if an entrepreneur is looking for outside funding. But even an entrepreneur planning to bootstrap his operation would be wise to put together a plan. A business plan:
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Provides an overview of the business concept.
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Sets goals and objectives (both short and long term).
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Offers a brief description of products or services.
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Offers details about the organization's structure.
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Defines the organization's unique selling proposition.
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Outlines marketing and daily operational plans.
Note that a business plan is not written in stone. It serves as a guide. It also serves to force the entrepreneur to think things through before getting started.
Figuring Out How and Where to Sell
While developing a business plan, the entrepreneur needs to decide how and where to sell. Prior to the internet, sunglasses were sold at drugstores, department stores, gas stations, and boutiques. Today's digital world is completely different.
Selling sunglasses at physical locations is still worthwhile. But selling online can be equally worthwhile. Entrepreneurs have choices:
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Traditional Retail – Selling sunglasses under a traditional retail model still works. A business owner can establish an eyewear boutique or sell sunglasses and accessories alongside other retail products.
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Pop-Up Sales – Designer sunglasses are often sold via pop-up retail locations. Examples include booths at local festivals, temporary displays at the beach, etc.
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Flea Market Sales – Sunglasses are frequently found at flea markets, especially in tourist destinations. Flea markets offer easy access and low overhead combined with plenty of foot traffic.
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Online Store – The internet has given way to selling sunglasses through an online store. Entrepreneurs can build their own ecommerce sites or use popular platforms like Shopify.
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Online Auction – The online auction is yet another venue for bulk designer sunglasses. Selling on eBay is a classic example of this model.
Entrepreneurs looking to leverage every available opportunity might choose a hybrid model that involves both physical and online sales. An ecommerce site complements a brick-and-mortar store on Main Street. Customers can purchase at both venues as they see fit.
Setting Up a Business
Setting up the actual business could be the most complicated part of all. An entrepreneur looking to establish a physical store needs to find the location first. Then it's on to a business license and liability insurance. Brick-and-mortar locations can generate quite a bit of revenue, but they also come with overhead.
An online retailer doesn't have the physical overhead of a brick-and-mortar operation. A business license may still be necessary depending on the laws of the state in which the business owner resides. Insurance is always a good idea, even with online operations, to protect against liability claims.
Some states require entrepreneurs to register their businesses regardless of how they choose to sell. A designer sunglasses operation could be registered as a:
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Sole proprietorship
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Limited liability corporation (LLC)
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Corporation
Some states allow entrepreneurs to run businesses as sole proprietorships with no formal registration. The only requirement might be the dBA (doing business as) – in the case of a proprietor using a business name instead of his legal name.
Sales and Business Taxes
Eyewear retailers are required to pay taxes regardless of where or how they sell. The entrepreneur would start by contacting the state to obtain a sales tax number. Sales taxes are built into the price of the products and then remitted to the state on a quarterly basis. If a retailer is required to pay local sales taxes as well, the process would be similar.
At the federal level, business owners are required to pay estimated taxes quarterly. A sole proprietor could file taxes using their Social Security number. However, a company organized as a corporation or LLC would have to get a federal EIN (employer identification number) for tax purposes.
Lining Up Suppliers
In terms of sourcing designer sunglasses, the retailer needs to line up wholesale providers. Olympic Eyewear is one such provider. Retailers purchase from us at wholesale prices. They then mark up the products to cover their costs and generate profit.
A retailer's relationship with wholesalers is critical to business success. Retailers need wholesalers they can rely on for quality products and timely delivery. As an eyewear business grows, retailers rely even more on their wholesale partners to keep up with consumer trends and demands.
Don't Forget the Marketing
One last thing that entrepreneurs should remember is that no business succeeds without proper marketing. Bulk designer sunglasses will sell themselves to a certain degree, but customers need to be made aware that the new business exists. Marketing is therefore non-negotiable.
Selling sunglasses at retail can be done. There is money to be made in this business. But succeeding isn't easy. It is not magic either. It requires hard work, forethought, and the willingness to do whatever it takes.
FAQs
Do I need a business license to sell sunglasses at retail?
Business licenses are the domain of the states and local municipalities. Check with your state and local business authorities to learn more.
Can I sell sunglasses through retail sites like Amazon?
Yes. Amazon and its competitors welcome third-party retailers. But the competition on such sites is fierce. Be prepared.
Is it better to sell high-end or off-brand sunglasses?
There is no better or worse category for sunglasses. It is a matter of choosing your target audience and then providing the products they want.
Do I have to buy large lots of wholesale sunglasses?
Wholesale sunglasses are sold in lots, usually a dozen at minimum. There is no requirement to buy hundreds at a time. But the whole point of wholesale pricing is to save money by buying in volume.
If I sell online, should I invest in SEO and digital marketing?
Designer eyewear is highly competitive in the online space. While investing in SEO and digital marketing isn't necessary, it is a smart idea.
Do I have to collect sales tax even if I sell online?
Sales tax is determined at the state level. Many states require sales tax collection. Some do not. It is best to check with your state before you get started.
