Consolidation of optical lens labs has left a gap in the market. We’re pairing cutting-edge technology with high-touch customer service to capture that underserved market.
$10 billion - Total optical lens market
$7.2 billion - Independent optical retailer revenue
$2.16 billion - Spent specifically on lenses (Zenlab’s immediate addressable market)
Researchers predict continued sustainable annual growth across the independent optical lens market.
There are roughly 10,000 independent optical locations across the country. While we can potentially serve all of these locations, there are 17 states where retailers’ lens choices are not limited by insurance providers. We will be specifically targeting locations in these states, to maximize the number of jobs per retailer.
These targeted states represent over 350,000 jobs (lens pair orders) per month. Our initial capacity of 3000 jobs per month, represents less than 1% of our target market.
Once our initial production capacity is maxed-out, we plan to invest in an additional surfacing line to keep up with the demand while still maintaining high standards of quality and fast turn times.
No good options for local optical retailers
At the moment the vast majority of wholesale lenses are supplied by large labs owned by corporations that are also competing in the retail space. Lenscrafters, Pearl Vision, Visionworks, and many other optical chains are owned by these corporations. This has created a market where independent retailers are searching for a wholesale lab that is not in direct competition with them.
The consolidation of labs to these large conglomerates has also caused a significant reduction in customer service, lens quality, and an increase in average turn time.
Hyper-local, tech-enabled lens production
We’re launching a local, independent optical lab that pairs cutting-edge technology with the best customer service, products and turn times in the industry.
Zenlab is the local, independent choice Upstate optical retailers have been missing. Instead of submitting product requests into major corporations and chasing down issues on a 1-800 line, our customers will have direct access to our team, with small-batch, customized ordering and high touch interaction. Local doesn’t mean low-tech though. ZenLab will utilize the latest in free-form lens production technology, giving our clients the best products available in the marketplace today.
We’re creating a path for local retailers to keep their dollars in the local market. Plus, with more options and faster fulfillment, these local providers will be better equipped to compete with big-box companies and online retailers, bringing more customer business back into our community.
Sean holds a Doctorate of Optometry from The University of Alabama at Birmingham and has been a practicing optometrist at Revision Optix for the past 17 years. Sean not only has an extensive understanding of the industry but has spent his career building relationships across the upstate. He has a long track record of growing and managing businesses in the optometry field and will apply this knowledge to ensuree success for ZenLab.
Joseph also has extensive experience in the optometry field, managing optometry businesses and providing financial expertise alongside Sean for the past decade. Joseph will be responsible for all financial aspects of the business.
Chris is currently a lead engineer and project manager at a large engineering corporation. He has filled this role for the past 20 years and will bring his expertise to make sure that business processes, setup, and operations are successful.
We’ll be purchasing and deploying two main sets of equipment for lens production in our lab: a line of surfacing machinery and line of anti-reflective coating equipment.
Deposits have been placed to reserve the equipment and leased space. With the additional funding from this campaign, we plan to complete these purchases so we can launch Zenlab.
We’ll focus on 3 key strategies for acquiring customers
1️⃣ Existing relationships
2️⃣ In-market sales reps & cold calls
3️⃣ Marketing with direct mail and association sponsorships
With our mission to serve local retailers, personal connection will drive the bulk of our early adoption. Our CEO Sean Stevens (Optometrist and Principal owner of Revision Optix) has existing relationships with many of our target offices. The same is true for our outbound sales strategy. We’re developing a select group of trusted reps that currently do business with target customers outside our existing network. Their established networks will help extend the reach of Zenlab while staying true to our focus on relationship-building and personal connection.
While our management team has extensive experience in the industry, we will all be getting specific training from both our equipment and lens suppliers on the manufacturing lines and product lines. This core team will be well versed in the details of our products and the day-to-day operation of the lab.
In addition to the founding team, our initial staffing will be one lab manager, one lab technician, and one admin. As we grow, we will add more technicians and develop our lab managers to be trainers for both the lab technicians and administrative personnel.
The lab will be near I85 in Greer, SC. This location is central to our proposed Upstate market and gives quick access to interstates for easy courier travel.