|
Below is an in-depth analysis and side-by-side comparison of Pearle Vision vs Medihealth including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $77,695 - $644,264 | N/A |
Franchise Fee | $30,000 | N/A |
Royalty Fee | 7% | - |
Advertising Fee | 8% | - |
Year Founded | 1961 | 1999 |
Year Franchised | 1980 | 0 |
Term Of Agreement | 10 years (co-terminus w/lease) | - |
Term Of Agreement | 10 years (co-terminus w/lease) | - |
Renewal Fee | $2.5K | - |
Business Experience Requirements |
||
Experience | - | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | Yes/No | -/- |
Receivables | No/Yes | -/- |
Payroll | No/Yes | -/- |
Training & Support |
||
Training | On-The-Job Training: 86 hours Classroom Training: 32 hours Additional Training: Webinars | - |
Support | 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 |
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 | - |
Canada Expansion | No | - |
International Expansion | No | - |
Health screening and wellness franchise dedicated to preventative healthcare. The company is designed to provide services that augment the current care received from healthcare professionals.