|
Below is an in-depth analysis and side-by-side comparison of Passport Health vs Pearle Vision including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $29,500 - $69,500 | $77,695 - $644,264 |
Franchise Fee | $25,000 | $30,000 |
Royalty Fee | 7-5% | 7% |
Advertising Fee | - | 8% |
Year Founded | 1995 | 1961 |
Year Franchised | 1997 | 1980 |
Term Of Agreement | 10 years | 10 years (co-terminus w/lease) |
Term Of Agreement | 10 years | 10 years (co-terminus w/lease) |
Renewal Fee | $3K | $2.5K |
Business Experience Requirements |
||
Experience | ||
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | No/Yes |
Start-up Costs | No/No | No/Yes |
Equipment | No/No | No/Yes |
Inventory | No/No | Yes/No |
Receivables | No/No | No/Yes |
Payroll | No/No | No/Yes |
Training & Support |
||
Training | - | On-The-Job Training: 86 hours Classroom Training: 32 hours Additional Training: Webinars |
Support | Newsletter, Meetings, Field operations/evaluations | Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
Marketing | - | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
Operations |
1% of all franchisees own more than one unit Number of employees needed to run franchised unit: 3 Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
55% of all franchisees own more than one unit Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators)
|
Expansion Plans |
||
US Expansion | Yes | Yes |
Canada Expansion | No | No |
International Expansion | Yes | No |
Founded in 1995, Passport Health provides vaccinations, counseling and supplies to international travelers. Passport's low-cost services are offered through hospitals and stand-alone centers. Franchisees even make house calls.