How can one be a good investor? Off course, by finding a good industry, a potential business idea and effective marketing schemes!
It takes ample time for people to decide the right industry to step into the business world.
And choosing a right industry is like winning half the battle.
So, all the business aspiring minds seeking out industries to invest in & having a burning desire to stand on their own, this blog will surely make your decision easy.
Among all the blooming industries to invest in India, currently, Optical has made the grade here.
As per the latest research by new Indian express, “550 million Indians live with uncorrected refractive errors. This number is close to half the population of India that lives with uncorrected refractive errors and unfortunately which is the major cause of increasing road accidents.”
And such alarming numbers also reveal the depth of huge scope of investment in the optical industry.
Here I have come up with 5 knock-back reasons to invest in eyewear/optical industry:
- Huge Untapped Market
The first major reason to invest in the optical industry is a huge untapped optical market.
You will be shocked to hear that 80% of the optical market is still unorganized. Imagine the scope of options you can explore in the industry.
Also, currently, the optical market is highly non-standardized — only 20 percent of the market is standardized. This gives a great opportunity to organized players to enter the industry.
Why not invest in optical and cater the need of industry?
- Huge Demand
As mentioned above, nearly 50% of India’s population needs vision correction. So, there is a huge demand in the optical industry.
Every year, India produces 30,000 optometrists and you will be astonished to know that for every 70 thousand people in India, there is only 1 optical store available.
Can you imagine the level of scarcity of optical care, services and awareness in India? And this lack of eye care services is hindering not only personal growth of individuals but also our nations’ growth.
- Booming Industry
As per market sources, the global eyewear market (frames, contact lenses, and sunglasses) is worth $ 90 billion and will reach $ 140 billion by 2020.
It is an industry with 30% CAGR (Compounded Annual Growth Rate).
- Low Cost Investment
The eyewear business in India has a great potential to invest in. There are immense opportunities to explore in eyewear segment.
This industry has bloomed from being a fashion accessory to an important necessity. In cities like Ghaziabad, Noida & other tier-2 &3 cities, people have started experimenting with designs and brands.
Also, many players are making their way to the optical market to offer various franchise investment opportunities.
One such brand is cleardekho eyewear private limited. Cleardekho is one of the leading eyewear budget retail chains that has 45+ optical franchise stores in 10+ cities.
So, here are 5 good reasons you should know about.
Needless to say, opting for a franchise business in optical industry is a worthy investment.
I hope readers have got some useful insights about investment in optical industry.
Have a good day