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Below is an in-depth analysis and side-by-side comparison of Pearle Vision vs Macy's Vision Express including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $77,695 - $644,264 | $350,000 - $685,000 |
Franchise Fee | $30,000 | $15,000 |
Royalty Fee | 7% | 7% |
Advertising Fee | 8% | - |
Year Founded | 1961 | 1996 |
Year Franchised | 1980 | 2002 |
Term Of Agreement | 10 years (co-terminus w/lease) | 10 years |
Term Of Agreement | 10 years (co-terminus w/lease) | 10 years |
Renewal Fee | $2.5K | - |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | No/Yes |
Start-up Costs | No/Yes | No/Yes |
Equipment | No/Yes | No/Yes |
Inventory | Yes/No | No/Yes |
Receivables | No/Yes | No/Yes |
Payroll | No/Yes | No/Yes |
Training & Support |
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Training | On-The-Job Training: 86 hours Classroom Training: 32 hours Additional Training: Webinars | Monthly support |
Support | Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | Co-op advertising, Ad slicks, Regional advertising |
Operations |
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)
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75% of all franchisees own more than one unit Number of employees needed to run franchised unit: 8 - 15
Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
Expansion Plans |
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US Expansion | Yes | Yes |
Canada Expansion | No | No |
International Expansion | No | No |
NO LONGER FRANCHISING