What is Microfranchising and how is it different from Microfinance?
A microfranchise is a small business toolkit that allows an entrepreneur with little-to-no previous experience to launch a profitable business. Unlike microcredit, which creates access to capital, VisionSpring loans entrepreneurs a "Business in a Bag" microfranchise. The Business in a Bag contains all the products and materials needed for marketing and selling eyeglasses, as well as tracking customer information, managing inventory, and running a small business. Vision Entrepreneurs repay VisionSpring for the cost of glasses once they have been sold.* Vision Entrepreneurs receive training in sales, marketing and business skills, as well as continual support from local staff.
Who are your partners?
To reach the hundreds of millions in need of eyeglasses worldwide, VisionSpring licenses its Business in a Bag model to like-minded partner organizations with deep local roots, established networks, solid reputations, and strong infrastructures to reach the rural poor. VisionSpring forges partnerships with a wide variety of organizations, from microfinance institutions with large networks of borrowers to local NGOs providing vital health and economic services in communities.
Partners allow VisionSpring to reach people in need of eyeglasses in the world's poorest, hardest-to-reach communities. In return, our partners receive a product with social and economic benefit to their constituents, an additional revenue stream for entrepreneurs and the organization itself, the transfer of VisionSpring's extensive knowledge, skills, and experience in Base-of-the-Pyramid sales and marketing.
To learn more, please
click here.
Why do you focus on eyeglasses?
As anyone with eyeglasses knows, it is a struggle to work, learn and perform daily tasks without this basic tool. In the developing world however, eyeglasses are primarily a product for the wealthy. Low-income people almost universally lack access to affordable glasses. Without eyeglasses, artisans and mechanics cannot see their goods, shopkeepers cannot manage their accounts, and teachers cannot instruct in class. A drop in productivity and income among workers can push already-vulnerable families over the edge.
Without clear vision, millions of the world's poorest people lose income or drop out of the labor force altogether, forcing their families and communities deeper into poverty. A simple pair of eyeglasses, can quickly restore their vision, productivity, and dignity.
What is refractive error?
Refractive error is a disorder wherein the eye does not focus light correctly. Easily treated with a pair of eyeglasses, it is the single greatest cause of global vision loss, affecting more than 550 million people worldwide. Using a recent
AMD Alliance International study that estimates the annual global cost of vision loss to be a staggering $3 tillion, VisionSpring estimates that refractive error alone accounts for $2.2 tillion in economic cost per year. Over 90% of the global cost of vision loss falls on middle and low-income countries.
Where does VisionSpring manufacture its glasses?
VisionSpring produces its branded, high-quality glasses in China. Leveraging China's robust manufacturing infrastructure that arose to serve the needs of large, multi-national companies, VisionSpring is able to produce high-quality, stylish glasses at a price affordable to our rural customers in the developing world. The low cost of manufacturing also enables our entrepreneurs to earn an income from the sale of glasses and allows VisionSpring to run a fully cost-recovered supply chain. VisionSpring staff regularly visits China to monitor production and working conditions.
How can I donate to VisionSpring?
VisionSpring relies on the generous support of individuals, foundations and corporations. Please consider making a gift by clicking here.
Alternately, please direct mail donations to:
Malini Krishna
Vice President of Business Development
VisionSpring
322 8th Avenue, Suite 12A-02
New York, NY 10001
VisionSpring is a non-profit, tax-exempt organization recognized under section 501(C)3 and contributions are tax-deductible in the United States.
To donate to VisionSpring in India, please send checks payable to VisionSpring to:
Attn: Pritpal Marjara
VisionSpring India
D-448, First Floor
Palam Extension
Sector 7, Dwarka
New Delhi 110 075
India
Thank you for your generosity and support!
