|
Below is an in-depth analysis and side-by-side comparison of Passport Health vs Miracle-Ear including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $29,500 - $69,500 | $119,000 - $352,500 |
Franchise Fee | $25,000 | $30,000 |
Royalty Fee | 7-5% | $48.80/aid |
Advertising Fee | - | $75/aid |
Year Founded | 1995 | 1948 |
Year Franchised | 1997 | 1983 |
Term Of Agreement | 10 years | 5 years |
Term Of Agreement | 10 years | 5 years |
Renewal Fee | $3K | $2K-10K |
Business Experience Requirements |
||
Experience | ||
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | No/No |
Start-up Costs | No/No | No/No |
Equipment | No/No | No/No |
Inventory | No/No | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
||
Training | - | Ongoing training as needed |
Support | Newsletter, Meetings, Field operations/evaluations | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
Marketing | - | Co-op advertising, Ad slicks, National media, Regional advertising |
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) |
80% of all franchisees own more than one unit Number of employees needed to run franchised unit: 3 Absentee ownership of franchise is NOT allowed. |
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.
Kenneth Dahlberg started Dahlberg Electronics in 1948 and began
manufacturing the first Miracle-Ear hearing aids. Today, Miracle-Ear is a
subsidiary of Italian hearing aid distributor Amplifon, with U.S.
headquarters in Plymouth, Minnesota.
Miracle-Ear's retail locations offer free hearing tests and
consultations and offer service, warranty and after-care packages with
their hearing aids.