Entrepreneur—a person who risks time, effort, and money to start and operate a business. That definition describes Dave Gilboa—along with Neil Blumenthal, Andy Hunt, and Jeff Raider—four entrepreneurs who started a new type of eyewear company called Warby Parker. Their goal was simple: Sell eyeglasses for less than $100 per pair. The business idea grew out of co-founder Dave Gilboa’s personal experience. When he was a graduate student, he lost his glasses while hiking and was so outraged by the high price of replacing them that he squinted for months rather than buy new glasses. Eyeglasses are made from wire, plastic, screws, and glass, yet the retail price is often many times the actual cost of the materials, yielding a hefty profit margin. Adding a designer logo to a pair of frames pushes the final price even higher. Talking with friends, Gilboa learned he wasn’t the only person unhappy about having to spend a lot for eyeglasses. So the four entrepreneurs became a team and created a business plan for a new kind of eyewear company that would sell eyeglasses at an affordable price.
What really makes Warby Parker different? How can they sell eyeglasses and sunglasses for less than $100 while other retailers and marketing intermediaries including LensCrafters, Pearle Vision, and Sunglass Hut sell their products for much more? Again, the answer is simple: They sell directly to consumers. Direct marketing through its online virtual store keeps Warby Parker’s distribution costs low and avoids the kind of markups that other retailers use to increase the final price they charge in order to boost their profits. Another reason why Warby Parker can charge less is that its in-house designers develop all its frame styles, which means no licensing fees for the right to use famous fashion logos. Customers benefit because Warby Parker passes the savings along in the form of affordable prices for quality eyewear.
Warby Parker’s online website makes it easy—very easy—to buy eyeglasses. Customers can select up to five eyeglass frames from its online inventory and have their choices delivered for a five-day free at-home trial before purchasing a pair. Warby Parker pays the postage both ways, so the customer risks nothing. Frame prices begin at $95 per pair, although optional extras such as progressive lenses will increase the final price. After deciding on a frame, the customer submits a prescription, clicks to finalize the order, and receives new glasses by mail within one to two weeks.
Originally, Warby Parker marketed its eyeglasses only online. In 2010, initial sales were so brisk that the startup surpassed its first-year sales objectives by the end of the first three weeks. During the first six months of 2011, Warby Parker had already sold 85,000 pairs. Since then, sales have continued to grow each year as more tech savvy customers are purchasing eyeglasses online. But not everything is online. Customers have always been able to visit the company’s headquarters, see frames in person, and try them on before ordering. This proved so popular that after a few years, the co-founders decided to open small showrooms in large cities so more customers could try on frames and consult with staff before making their purchase.
Now Warby Parker has embarked on an ambitious strategy of opening more stores in cities where the company’s database shows high concentrations of customers. It now has over 50 stores and showrooms in 22 U.S. states. Some of these stores are equipped for optical examinations. Some include photo kiosks so customers can snap fun photos of themselves wearing different frames and post to social media for advice from friends. The photos don’t just help customers make buying decisions—they keep the Warby Parker brand in the public eye and help the firm stay in touch with customers who opt to receive communications.
What’s next for Warby Parker as it shakes up the eyewear industry with direct marketing, retail stores, low prices, fun styles, and social responsibility? Good question. While sales are reported to be over $100 million a year, the company does have a social conscious: It donates a pair of glasses to someone in need for every pair it sells. As evidence of its commitment to social responsibility, Warby Parker is now a “B corporation.” Choosing to become a B corporation is one more way to demonstrate its commitment to social responsibility and attract customers, investors, and employees who share those values. At the time of the publication of your text, Warby Parker is funded by private investors. And although there have been rumors that Warby Parker will sell stock to the general public, it is just speculation at this point. You may want to keep your eyes open to see what happens to this young eyeglass company and how it may impact the eyeglass industry.
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.