ENTREPRENEURHIP DEVELOPMENT(EDE)

PROJECT TITLE: Specs & Sunglasses Business

Submitted by:-
Roll No. Name
Y-3417 Avinash Raj

Guide
Ms.R.V.Brahmane

Lecturer in Electronics Department

 Department of
Electronics and Telecommunication
Y.B. Patil Polytechnic, Akurdi, Pune – 411044

This is to certify that the Project Report entitled “Specs and

Sunglasses Business” of subject “EDE”, which is being submitted
here with for the awarded of TYET (Sixth Semester) is the result of
the work complete by

Avinash Raj 1801340184

Under my supervision and guidance within the four walls of institute.

(Mrs. R.V Brahame) (Mrs. M.V. Vibhute)

Guide H.O.D
 Micro Project Report
Specs and Sunglasses Business
1.0 Aim/Benefits of this micro project:
 Sunglasses or sun glasses (informally called shades) are a form
of protective eyewear designed primarily to prevent bright
sunlight and high-energy visible light from damaging or
discomforting the eyes. They can sometimes also function as a
visual aid, as variously termed spectacles or glasses exist,
featuring lenses that are coloured, polarized or darkened.

 Incorporating the latest design, which has massive impact on

the overall functioning of the business setup.
 There is more choices and demand for new generation.
 It is not a seasonal business.
 There’s a tendency for dumping.
 Make people attractive by frames, frames are like jewellery on
our face.
2.0 Rationale: In today’s world eyewear business becomes a major
business to build. There are many brands are available in market
which provide best quality specs & sunglasses to the customer. It's a
profitable business. The mark up in the optical industry is generally
100%. The most important part of it is making the right purchase
from your supplier, as some part of your goods will remain unsold,
and your profit depends strictly on the illiquid goods. And India is the
largest casual, formal & sunglasses market to start the business.
From this project we will gain some business ideas and experience to
start an eyewear business. Our project helps us to build some
business ideas and strategy for small startups. In future if we want to
start a small business then this project helps us to build a small
business.
3.0 Course outcomes Integrated:
I. Identify your entrepreneurial traits.
II. Identify the business opportunities that suits you.
III. Develop comprehensive business plans.
IV. Prepare plans to manage the enterprise effectively.
4.0 Group member name:
 Avinash Raj
5.0 Actual Procedure Followed:
 Discover a watch company. Witnesses’ first-hand how watch
components are made, and more than that, assembles your
own watch according your taste. This is what the Swiss
Academy is determined to offer all its participants. Two
dedicated and highly trained watchmakers will accompany you
throughout the entire day. They will teach you to assemble
your own highly crafted, mechanical, manually wound wrist
watch, piece by piece. You will then be guided through all final
check points such as quality control, regulating precise time
keeping, and ensuring the watch is waterproof.
6.0 Literature Review:
 Today, a wristwatch is considered as much of a status symbol
as a device to tell time. In an age when cell phones and digital
pagers display tiny quartz clocks, the mechanical wristwatch
has slowly become less of an object of function and more a
piece of modern culture. Walk into the boardroom of any
Fortune 500 company and you‘re likely to see dozens of
prestigious wrist watches, including such names as Rolex,
Vacheron Constantine, Frank Muller, Jaeger-Le Coultre, Citizen
and even Patek Philippe. However, this was not always the
case. Less than 100years ago, no self-respecting gentleman
would be caught dead wearing a wristwatch. In those days of
 yore, real men carried pocket watches, with a gold half-hunter
being the preferred status symbol of the time²no pun
intended.
7.0 Actual Resources Used:
Serial Name of Specification Quantity Remark
number Resources
1 Computer Windows10 1
2 Processor i7 1
RAM 8GB
ROM 2TB
3 Software MS Word 1

8.0 Output of Microproject:

 SWOT Analysis
A SWOT analysis of our Watch business product and services
Business overview
While a watches store can exist alongside a main department store
most are independent store sell watches. Watch stores operate with
set price giving customer a great selection of product of affordable
prices.
Who is the business right for?
The Watch business is great for anyone who loves to wear it. Retail
experience help as does an appreciation for Watch may find the
watch business to be exciting as well. A successful watch store
operator will need to be good with pricing. Marketing and
management.
What is the target market?
In the watch industry, marketing and selling are playing a big role,
sales have big concern with the profit but marketing of any product
of any product in sector is with the need, want and recruitment of
with the organization profitably. It means that you have to work on
the strategy which the company is adopting in marketing and selling
of its products and services for expanding its business and competing
with the competitors.
How does a Watch store make money?
Watch store make money by selling Watch accessories, Watch care
products and other items. Some Watch store may offer Watch
cleaning services though such services are pretty rare.
What is the growth potential for a Watch store?
Watches store have a lot of growth potential as local provider
because the market for high – fashion Watch is open in a Watch
store can even become a multinational provider if they rare
interesting or incredibly reliable Watches. At some point however,
watch store owner will need to differentiate themselves from the
competitor it pays off to either specialize in particular type of Watch
or to offer an incredibly diverse stock.

Marketing Strategy
Prepared a marketing strategy for our Watch product
Before starting your business, you should market a product, it helps
to create a buyer to reach with your promotion materials. These are
the low cost/ no cost method and you can use different one at
different stages of your business cycle, or you may utilize them all at
once from your business inception. When you build business, the
first thing you want to secure is customer base. With a decent
printer, a phone, and an internet connection device you can put
together a fairy extensive advertising campaign without having to
pay for a space.
 Following are small business marketing techniques: -
1.Flyers: -
This is the broadly method of cheap advertising. A flyer is a
form of paper advertisement intended for wide distribution and
typically posted or distributed in a public place, handed out to
individuals or sent through the mail. Flyers may be used by
individuals, business, not-for-profit organizations or governments to.
Flyers are inexpensive to produce, and they required only a basic
printing press. Flyers are handed out on the street (a practice known
as "flyering" or "leafleting"), distributed door-to-door through the
mail, posted on bulletin broads, put under windshield wipers of cars,
given away at events or on the street, or affixed to telephone poles,
walls, or other surfaces. You find an area that you would like to do
business in and you distribute flyer to the mail boxes within reach.
2.Posters: -
Advertising posters are a common print promotional
technique used by small businesses. A poster includes a visual
design, images, colours and copy. It provides a message intended to
promote brand awareness or call attention to a company event.
Relative to other small-business ad opportunities. Everyone in the
business world knows the importance of posters and ads in
advertising for specific products. Posters are an integral part of
advertising. An eye-catching, attractive poster that conveys a
professional, compelling message about a product, service or event
will invariably hold the user’s attention. This is a bit or miss method,
but you should try to make your poster reasonably visible and have
removable tags that the customer can present for a discount.
3.Value Additions: -
This is one of the most powerful selling points for any
products and services. It puts the customer first. It is defined by its
ability to deliver more than your customers are expecting. It’s an
empathetic approach that seeks to delight customers by giving them
more than they expect or pay for, emphasizing your brand’s desire to
deliver value instead of simply making money. This is particularly
important in a time when customer are not shopping with the
transactional brand. With value-add marketing, you have the
opportunity to turn your marketing content into a product of its own
that pushes the needle from transactional relationships to emotional
ones by putting the customer’s needs first. As a result, the content
you create arguably becomes your most valuable product and what
ultimately makes your brand appealing. They are aimed to increasing
customer satisfaction and widening the gap between you and the
competition.
4.Referred Networks: -
Referred Networks are invaluable to a business. This
includes business-to business referral. If you have error found
yourself saying, “we don’t do that here but x down the street does”,
you should make certain that you are getting a referral in return.
When dealing with professionals, this network is even
stronger. A lawyer refers people to an accountant, an accountant
refers people a broker, a financial planner refers people to a real
estate agent.
Advertising can help you to get a job but that you do after
a job can often be a much stronger marketing tool.
 Why did the customer choose your business?
 Where did he/she here about it?
 Which other companies had he or she considered?
 What is the customer more satisfied with?
Also, if your job involves going to the customer, make sure to
slip a flyer into nearby mailboxes.
7.The Internet: -
It is dishonest to pretend that the internet is cohesive whole
for marketing like a community hall, you can put up a poster is a
section of highway where you can busy bill around board space.
However, it is difficult to overstate the importance the internet has
no marketing
8.Skill Developed/Learning Outcome of this MicroProject
We learn about watch business. And how the start-up works.
We learn how to do the start-up business and maintain the business
and how to manage the business.
www.smallbusiness.chron.com
https://www.scribd.com/doc/62392721/Market-Segmentation-of-
Wrist-Watches
www.howtostartanllc.com
9.Application of the Micro project
This project helps us to provide information about the watch
business. And how to start a watch business or any kind of business
in future.