Zenlab
Regulation Crowdfunding

Raising up to $1,070,000

Profit-Sharing Equity Stake 

$1000 Min Investment

$100 share price


Coming Soon!
Start date: June 1, 2021
End date: September 30, 2021

Welcome! We are collecting indications of interest for our planned capital raise through Regulation Crowdfunding. Please reference important guidance regarding Rule 206 under the Disclosures section below. 

Why fund our local story

  • Founders Sean and Joe have a combined 26 years of experience in the retail optical space
  • Opportunity to create local jobs and bring revenue back to local retailers 
  • Targeted competitive advantage through serving local and independent care providers 

Overview

The Opportunity

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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. 


Market Size:

$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.


Target 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.


The Problem

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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.


The Solution

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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.


The Team

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Sean Stevens

CEO


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 Stevens

CFO


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 Jonker

Operations Manager


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.


The Plan

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Production

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.


Customer Acquisition

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.


Staff

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.


Location

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. 


Market Landscape




Investment Summary

Deal Terms

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  • This offering is for an equity stake in ZenLab, LLC
  • Intent is to hold the investment for >10 years with investor distributions from operating profits.
  • Target annual returns of 12% by year 3, with the goal of continued growth (reference attached pro forma).
  • The share price is $100 each
  • Member Profit sharing: Operating profits equally distributed based on ownership percentage. Paid quarterly.
  • Minimum investment: $1,000
  • Goal: $500,000 - $1,070,000

    Every investment carries risks, including the risk of losing some or all of your money. Vicinity does not predict or project performance, and the performance of any specific investment will vary.


Use of Funds

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  • If we raise $500K, we'll use the funds to purchase lens surfacing equipment

  • If we raise over $500K, the remaining amount will go towards purchasing coating, edging, and miscellaneous equipment.


Docs
Risks

Investing carries general risks, such as losing all the money you invest. Some key risks will be listed below. Additional general and project-specific risks may be detailed here if the Regulation Crowdfunding securities offering goes live.


You can learn more about the risks of investing through Vicinity here

Disclosures

This is not currently a live securities offering.

        • No money or other consideration is being solicited, and if sent in response, will not be accepted.
        • No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform.
        • A person's indication of interest involves no obligation or commitment of any kind.

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