Pearle Vision vs My Eyelab Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Pearle Vision vs My Eyelab including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Pearle Vision Franchise
My Eyelab Franchise
Investment $77,695 - $644,264$407,477 - $585,543
Franchise Fee $30,000$34,900
Royalty Fee 7%4%
Advertising Fee 8%8%
Year Founded 19612015
Year Franchised 19802015
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
 
Pearle Vision Franchise
My Eyelab Franchise
Experience
  • Industry experience
  • General business experience
  • Industry experience not always necessary; depends on business acumen and financial condition
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    Financing Options
     
    Pearle Vision Franchise
    My Eyelab Franchise
      In-House/3rd PartyIn-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
     
    Pearle Vision Franchise
    My Eyelab Franchise
    Training On-The-Job Training: 86 hours Classroom Training: 32 hours Additional Training: WebinarsMy Eyelab provides an initial training program that covers material aspects of the operation of the My Eyelab store. This training is conducted whenever a new franchise is projected to open. This initial training is in addition to the on-site opening assistance. My Eyelab will not require training or certifications in addition to the initial training. My Eyelab will, however, provide additional, optional training on occasion. Up to four employees may attend the initial training program as part of the initial franchise fee. Daniel Stanton will oversee the training program. Mr. Stanton has thirteen (13) years of experience in this business. The My Eyelab training program is not routinely scheduled, but will be provided as needed. The initial training will occur at the corporate office in Palm Springs, Florida, or at one of our other South Florida affiliate stores. The initial training program must be completed to My Eyelab satisfaction prior to store opening.
    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)

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    Expansion Plans
     
    Pearle Vision Franchise
    My Eyelab Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion No-

    Company Overviews

    About Pearle Vision


    Pearle Vision: Optical franchise is focused on genuine eye care
    Optical franchise generates revenue while helping independent operators stay focused on patient care
    Pearle Vision is one of the largest brands in the optical industry, with hundreds of eye care centers in the United States and Canada. We were founded in 1961 by Dr. Stanley Pearle, a visionary optometrist who brought doctors and opticians together under one roof so patients could receive a convenient, holistic, eye care experience. Today, our mission is to provide more patients, and more communities, with genuine eye care by partnering with optometrists, opticians and investors who share our passion for genuine eye care.
    Veteran Incentives  20% off franchise fee
    "Entrepreneur
    #58 in Franchise 500 for 2020.
    #32 in Franchise 500 for 2021.



    About My Eyelab

    Founded in 2013, My Eyelab is one of the fastest growing full-service teleconsulting and retail optical centers in the nation. With the mission to provide quality eyeglasses and expert eye care services, My Eyelab has become a leader in the eye health industry by developing an accessible alternative to over-priced eye care services.
    My Eyelab utilizes teleconsulting to enhance efficiency for patients and optometrists. This technology eliminates the need for an on-site laboratory, thereby significantly reducing startup and operational costs for franchisees.
    My Eyelab has been consistently ranked by Vision Monday as along the largest retailers in the United States, most recently as the 18th largest optical retailer in the U.S. My Eyelab is one of the fastest growing full-service teleconsulting and retail optical centers in the nation. With the mission to provide quality eyeglasses and expert eye care services, My Eyelab has become a leader in the eye health industry by developing an accessible alternative to over-priced eye care services.

    The total investment necessary to begin operation of a single My Eyelab® franchise ranges from $407,477 to $585,543. This includes $221,027 - $271,393 that must be paid to the franchisor or their affiliates for an initial franchise fee and for signage, furniture, fixtures, and equipment.
    If you enter into an Area Development Agreement to develop multiple units, your initial investment will range from $407,477 to $585,543 for each franchise unit that you commit to opening.

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    #343 in Franchise 500 for 2020.
    #95 in Franchise 500 for 2021.