Smartseer

Online Optical Store

 Smartseer

Business Project

By: Rania Noor

BBA-18-46
Institute of Management Sciences
The Women University, Multan
Dated:

Institute of Management Sciences

Name: Rania Noor

Degree Bachelor of Business Administration

Title of the Project Smartseer

Supervisor & Course Instructor Dr. Sadia Irshad

Assistant Professor, Institute of Management Sciences
 Acknowledgment
All praises being to Allah, the sustainer of the world and Peace Be Upon Him, His messenger

(S.A.W). I could not have achieved this the faith in Almighty. He is All-Knowing and All
Seeing.
I would like to thank my teacher Dr. Sadia Irshad who gave me a great opportunity to do this great
development work, this report enlightened us and gave us useful information on how to start a new
product. I also wish to express my sincere thanks to the Women University Multan for
accepting me into the graduate program. I also wish to acknowledge the support and great
love of my parents and my friends. They kept me going on and this work would not have
been possible without their support.
 Declaration
I hereby declare that this work is mine and that, to the best of my knowledge and belief, it does not
contain anything that was previously published or produced by any other part in the fulfillment, part
or otherwise of any other project at any university, unless acknowledgment must be made in writing. .
This thesis has not been submitted to obtain any other degree or qualification. We authorize
our supervisor Dr. Sadia Irshad and the Women University Multan for our thesis.

Furthermore, I would like to mention that there doesn’t exist, any such business offering
before in Pakistan so this idea is entirely unique and could not have been copied. The random
pictures that are being used to depict the Smartseer(my project title) are collected from
different Google
sources.

Rania Noor
21st April, 2022.
TABLE OF CONTENTS
1.0 EXECUTIVE SUMMARY
1.1 Smartseer (Name of the Business)
1.2 Description of the Business
1.3 Company’s vision & mission
1.4 Market
1.5 Growth potential
1.6 Financial Considerations
2.0 PRODUCT/SERVICE DESCRIPTION
2.1 Smartseer services
3.0 INDUSTRY ANALYSIS
3.1 The Eyewear Market
3.2 Significance of Eyewear’s in Pakistan
4.0 COMPETITION ANALYSIS
4.1 Competitors of the Industry
4.2 Competitors of Smartseer
4.3 Smartseer’s brief policy to deal Competition
5.0 SWOT ANALYSIS
5.1 SWOT Analysis of Smartseer
6.0 MARKETING SUB – PLAN
6.1 Marketing Mix
6.2 Product
6.3 Price
6.4 Promotion
7.0 OPERATIONS SUB – PLAN
7.1 Business Details
8.0 HUMAN RESOURCE SUB – PLAN
8.1 Hierarchy
8.2 Management & Ownership
9.0 BUDGET SUB – PLAN
9.1 The Budget
10.0 FINANCIAL SUB – PLAN
10.1 Financial Plan
10.2 Project Income Statement
10.3 Smartseer Balance Sheet
10.4 Cash Flow
11.0 MILESTONE SUB – PLAN & CONCLUSION
11.1 Milestone Plan
11.2 Conclusion of the Project

EXECUTIVE SUMMARY

We call our company SMARTSEER since we offer gem clear items beneath one belt and for
our client fulfillment client discover our item on site and give his detail and get its item as he
gets optics from any store. In this organization we work on item base commerce such as:
• Sunglasses
• Eyeglasses
• Contact Lens etc.
We made a website where everything is accessible in a single press. We are working with
outsourcing companies working in China so that we get the finest at prudent rate for clients.
We are running a distribution center where we pack our items to begin with some time
recently they are assembled and conveyed straightforwardly to clients. The target showcase is
between 10 to 40 a long time working is really based on the customization that what client
needs from us to buy. We also have the service where client can complete the designs and
install an additional 3D viewing version that serves as a quick chat feature to explore the
image itself.
1.1 Smartseer (NAME OF THE BUSINESS)

The business is an online based optical store selling eyewear frames, lenses and contact
lenses.

1.2 DESCRIPITION OF BUSINESS

On my website people will get optical store selling eyewear frames, lenses and contact lenses.
People will order the stylish prescription eyeglasses for men, women and kids. Although
customers gravitate towards frames that align with their taste, they'll want to know the frames
cater to their specific needs and lifestyle. With Sorting Options, customers will be able to
filter the products by various criteria, such as face shape, eyeglasses material, lens power,
glasses size, etc. We also have the service where client can complete the designs and install
an additional 3D viewing version that serves as a quick chat feature to explore the image
itself

1.3 COMPANY’S VISION AND MISSION

• Vision
To create uniqueness in our product & become the leader in market. We are Passionate about
Quality Eye Care, Premium Products and Patient Education. Our inventory is hand selected
each season, constantly changing the assortment of unique and trendy pieces.
• Mission
Our mission is to create value & make difference. We will help people to define their
personal beauty, and to see the beauty in the world. We will provide goods and services to
people to help them see better, but the key to our mission is not in what we do, but how we
do it - with compassion.

1.4 Market
Target Market
Our market is specifically targeted at university students, colleges, institutions, and schools.
And another thing is that we also look forward to all ages. As in 5 to 70 years. Men and
women of both classes.
Availability:
Availability of our products is readily available online you can easily purchase our products.
You can change your products means customization of your choice.
Customer Communication:
Our customer communication is highly dependent on our Answering or Our Telephone
Department.
Customer Features:
Our Customers are very young. Students looking for new designs and over time change
Trends or Fashion.

1.5 GROWTH POTENTIAL

Eyeglasses and Broadcast communications Store Publicize figure desires reflect long-term
vision and designs of Eyeglass central focuses and contact central point stores. The another
five-year climate figure livelihoods advanced money related strategies that take into thought
both short-term and long-term advancement designs.
1.6 FINANCIAL CONSIDERATIONS

A source of direct investment of partners with an estimated investment of 1.2 million. Each
partner donates four hundred thousand Pakistani Rupees (PKR). Where 200,000 is a deposit
or Advance of the warehouse.

PRODUCT/SERVICE DESCRIPTION

2.1 SMARTSEER PRODUCTS

Polycarbonate lenses
These are lighter and impact resistant eyeglasses lenses suitable for sports person or working
in office environment
Trivex lenses
These are also light weight but made with newer plastic which provides better results from
polycarbonate lens with ultraviolet facility for client
High index lenses
These are made for high number prescription client that provide protection and special
formulas for quick treatment of eyes in early time.
Aspheric lenses
These eyeglass lenses are unlike specific lenses, which are spherical. Aspheric lenses are
created at differing degrees of curvature, which allows the lens to be thinner and flatter than
other lenses. This also creates an eyeglass lens with a much larger usable portion than the
standard lens.
3D Viewing
We also have the service where client can complete the designs and install an additional 3D
viewing version that serves as a quick chat feature to explore the image itself.

INDUSTRY ANALYSIS
3.1THE EYE WEAR MARKET
The Pakistani eyewear market has witnessed a notable growth in the recent years, Surge in
visual impairment and eye defects cases coupled with inclination toward latest fashion trends
are the major factors that drive the growth of the eyewear market. Rise in use of digital
devices and gadgets by the young generation have led to an upsurge in the number of eye
disorders, thereby, increasing the demand for vision correction products. In addition, factors
such as increased disposable income and improved standard of living in Pakistan have led to
the adoption of premium quality and branded eyewear.
Eyewear retailer sell eyeglasses contact lenses, sunglasses and optical accessories. These
stores also provide services related to glasses but we Smartseer are new in this industry
providing online services to client and customizing design by themselves through server
called customization now will allow not only sales to increase but it will increase revenue
itself.

3.2 SIGNIFICANCE OF EYE WEAR IN PAKISTAN

As far back as the 15th century, glasses were envisioned as symbols of scholarly
accomplishment, gracing the faces of intellects and people of importance in paintings and
portraits of the time. And yet interestingly enough, actual working lenses would still take
almost another half-century to be invented! Today’s glasses come in a variety of shapes,
styles, and materials and are both functional and fashionable. Spectacles are an important
accessory, helping people to see better, while also showing off a unique side to themselves.
That’s why choosing the right lens and frames for your individual needs and lifestyle is
important. More than a fashion statement, glasses are your window to the world.
Lenses on the market depending on the season and trends. If we talk about the future of the
business market that this business will work from time to time because according to market
research in Pakistan we have found more than 10,000,000 potential customers. These are
New Age products obtained according to future predictions. This is not enough research for
our potential customers. These modern eyeglass lenses are lighter, thinner, and less scratched
than regular glass lenses or plastic lenses. Polycarbonate lenses. These eyeglass lenses are
non-collision and are a good choice for people who regularly participate in sports, working in
the workplace where their eyeglasses can easily be scratched or broken, as well as children
who may fall and scratch the glasses. Polycarbonate lenses also provide ultraviolet protection.
Trivex lenses. Made of new plastic with the same characteristics of polycarbonate lenses. It is
lightweight, thin, and resistant to collisions and may result in better vision correction than
other polycarbonate lenses. Top plastic lenses. Designed for people who need strict
instructions, these eyeglass lenses are lighter and smaller than regular, non-thick “coke
bottle” lenses that may be needed.
 COMPETITION ANALYSIS
Online store accessories for students such as targeted products on the bases of many lower
grade glasses, including frames, mirrors, a variety of independent glasses, contact lenses and
care solutions as well, tablets, invisible glass boxes. Target Market is between the ages of 5
and 70. Really Based on Customization what the customer needs from us to buy.

4.2 COMPETITORS OF Smartseer

The main competitors that Smartseer businesses have are:
 Addidas Gucci

 Prada Diesel

 Modo

 Nike

 Versace

 Polo

 Boss

 Warlux

 Italian Design

 Trendy Optical

4.3 SMARTSEER BRIEF POLICY TO DEAL COMPETITION

Our online configuration with state-of-the-art equipment, optometrists, opticians and
affordable products, to provide customers with the best service and appoint the best eye
doctor. Services include:
free computer vision measurement, free mirror repair, free glasses cleaning, free eye
consultation, professional optometry.
Service Features:
Optometrist Zuotang; main refractor sleep calculator; quality service; absolutely affordable
glasses; Under normal circumstances, within six months the condition of any merchandise
can be attributed to the product itself, manufacturing process and condition, we will provide
you with a free replacement of equivalent value (except for normal aging, abrasion or
misuse), we will review, free of charge, if necessary, the primary student target market.
According to research, myopia in 80% of university students accounts for a large market
share of glasses buyers. We also have a service where customers can complete designs and
install an additional version of the 3D viewer that serves as a quick chat function for self-
exploring images.

SWOT ANALYSIS
5.1 SWOT ANALYSIS OF STAY FIT
Strength Weakness Opportunity Threats
Different varieties of Intimate product
Not registered Online
glasses will be
business transactions
provided
Lack of skills Youth target Government
Normal price charge
market duties
Customized eye Social media Branded glasses
New in market
glasses campaigns
Lack of experience Grow local Competitor
Full finance control
brands
Competitive Reach wider Inflation
Lack of resources
advantage audience

MARKETING SUB-PLAN
6.1 MARKETING MIX
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its
brand or product in the market. Thus, our marketing mix would be referring to four broad
levels of marketing decisions, namely: positioning, price, promotion.

6.2 POSITIONING
Customers will appreciate the cost of service compared to competitors as I will provide state-
of-the-art lens technology along with excellent customer service.

6.3 PRICE
A consistent pricing strategy with our goal of differentiation, providing added value at a fair
price, as opposed to discounting and devaluing our products and services. The price will
depend on the quality of the product.

6.4 PROMOTION
Smartseer will hire a small number of employees who will have to figure out the most
effective way of promoting and communicating for us. Advertising is the way smart people
use to communicate with target customers.

• Promotions and Advertisement

As we are just starting up so our promotional components would be less but will have a
concrete element. List of promotional factors that Smartseer would use, is below:

1. Brochure
2. Social media
3. Online Marketing tool

Although there are many online marketing tools but Smartseer would use few of them. We
will use influencer and bloggers to promote it. It works through paid promotions where it
pays
influencers to promote them. It provides free sample to influencers and bloggers
so they might experience .They will review them publically online. It also
pays a few big websites for its pop-up ads online on their websites. Not only that but it
also Shares the reviews and experiences of Customers, this way it may inspire other people
who reach its website, to try our eyewear.

OPERATIONS SUB-PLAN

7.1 BUSINESS DETAILS

Name of business: Smartseer
Proposed business start:
2022

Founder- company
members: Rania Noor,Miraj
Aish,Amna Yasir

Legal form:
Partnership

Existing Members:
Rania Noor,Miraj
Aish,Amna Yasir
  The investment amount is generous calculated (considering national general Price
increases and inflation rates) moreover remaining money will immediately be paid
back
related to the individuals.
 Projected number of employees is approximately 6 permanent staff workers.
 The Smartseer board members are the company founders as mentioned
above. The board shall be the representatives of the company in all normal
transactions
and appearances.
 The final decision making will be done by the founder and CEO of the company.

HUMAN RESOURCE SUB-PLAN

8.1 HIERARCHY
In process

8.2 MANAGEMENT & OWNERSHIP

Name of owners: Rania Noor
Details of management & ownership:
The business would be run through Miss Rania Noor.
Experience:
Rania Noor is a business graduate.

BUDGET SUB-PLAN

9.1 THE BUDGET

A source of direct investment of partners with an estimated investment of 1.2 million. Each
partner donates four hundred thousand Pakistani Rupees (PKR). Where 200,000 is a deposit
or Advance of the warehouse.
 FINANCIAL SUB-PLAN

10.1 FINANCIAL PLAN

A source of direct investment of partners with an estimated investment of 1.2 million. Each
partner donates four hundred thousand Pakistani Rupees (PKR). Where 200,000 is a deposit
or Advance of the warehouse.
• Separation of Mirror Calculators or Air Conditioner
• Initial Furniture
• Electrical decorative items
• Electric generator

Rent Expense. 80,000

Electricity Expense (Monthly). 25,000
Employees Salary (Monthly). 15,000
Other Expenses (Monthly). 25,000
Website services. 50000
Photography. (Monthly) 20000

Key Assumptions
A financial plan is intended to reflect the financial impacts of marketing, human resources,
and operations plans in the form of profit and loss accounts, cash flows, and balance sheets.
We have made certain assumptions for the company's financial plan and in accordance with
these assumptions, we have prepared the financial statements.

10.2 Project Income statement

Sales 612,000
Less CGS 200,000
Gross profit 412,320

Less Expenses
Salaries 60,000
 Rent 300,00
0
Petty cash 5,000
Utilities 80,000
Advertising 40,000
Website 20,000
Maintenance 30,000
Total 535,000
Operating 150,000
loss
Add Other
income
Consultancy 80,000
Designs 60,000
Total 140,000
Net loss _133,000

10.3 Balance Sheet

Current Current
Assets Liabilities
Cash 200,000 A/c 80,000
payable
At bank 200,000
A/c 60000 Advertising 50000
receivable payable
Prepaid 300,000
rent
Inventory 100,000 Owner
Equity
Fixed Capital A 400,000
Asset
Furniture 100,000 Capital B 400,000
Equipmen 300,000 Capital C 400,000
t
Machinery 200,000 Less 263,000
drawings
Net income -133,000

Total 14,60.0000 Total 14,60,000

10.4 Cash Flow Statement

EBIT Xxx

Adjustment of non-cash

Depreciation 43,550
Increase in a/c Xxx
receivable
Increase in inventory 200,000
Increase in payable Xxx
Advertising payable 50000
Tax payments Xxx

Net cash flow from 253,550

Operating activities

MILESTONE SUB-PLAN & CONCLUSION

11.1 MILESTONE PLAN

We want to see itself an organization that not only helps improve the living standard of
people. Smartseer wants to see itself as a sustainable business over the coming few years.

11.2 CONCLUSION
This is the business plan of Smartseer Optical. It is clear from the facts and figures presented
in the project report that this is a revenue model for society and thus the project can be
financed for the economic growth of volunteer organizations. I hope we will achieve what we
want in the future based on the facts that we have provided in this business plan.