Did you ever wonder why prescription eyeglasses are so expensive? That’s a question four MBA…

Did you ever wonder why prescription eyeglasses are so expensive? That’s a question four MBA students at Wharton asked. The answer was an oligopoly industry controlled by just a few firms. Their response was to start a company to sell eyeglasses at a reasonable price. Called Warby Parker, their business is described as running with “a rebellious spirit and a loft y objective: to create boutique-quality, classically craft ed eyewear at a revolutionary price point.” Founders David Gilboa, Neil Blumenthal, Andrew Hunt, and Jeffrey Raider wrote a Web-driven business plan that many questioned at first. Could eyeglasses be sold over the Internet? Their answer was: “Of course!” If you’re in doubt, check out warbyparker.com. You can buy stylish glasses for as low as $95—frames with prescription lenses and free shipping. They are e-commerce and customer friendly—letting you have free home try-ons of up to five “loaner” pairs. And if you end up buying, you’re helping someone who can’t afford to buy new glasses for themselves. Warby Parker donates one pair for every pair it sells. The company’s Web site proudly announces: “Let’s do good. We’re building a company to do good in the world. . .. We think it’s good business to do good.” They call their business model “eyewear with a purpose.” That purpose is anchored in the fact that more than a billion people in the world don’t have the glasses they need for school, work, and everyday living. It’s a problem that Warby Parker’s social business model aims to solve. What’s Your Take? Instead of buying glasses at a boutique for $695, you can buy a stylish pair online from Warby Parker for $95. And your purchase sends a free pair to someone in need. Why aren’t there more businesses like this? Why aren’t there more entrepreneurs who try to match social problems and business opportunities? How about you—any good ideas here?

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