My Eyelab vs Smile Source Franchise Comparison

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

Start-Up Costs and Fees
 
My Eyelab Franchise
Smile Source Franchise
Investment $407,477 - $585,543$27,800 - $435,000
Franchise Fee $34,900N/A
Royalty Fee 4%-
Advertising Fee 8%-
Year Founded 20152006
Year Franchised 20152006
Term Of Agreement --
Term Of Agreement --
Renewal Fee --


Business Experience Requirements
 
My Eyelab Franchise
Smile Source Franchise
Experience --

Financing Options
 
My Eyelab Franchise
Smile Source Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/--/-
Start-up Costs -/--/-
Equipment -/--/-
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support
 
My Eyelab Franchise
Smile Source Franchise
Training My 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 --
Marketing --
Operations --

Expansion Plans
 
My Eyelab Franchise
Smile Source Franchise
US Expansion YesYes
Canada Expansion --
International Expansion --

Company Overviews

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.


About Smile Source

"Smile

Smile Source is dedicated to preserving the elite business of independent dentistry and providing highly personalized services delivered through a unique heritage of shared expertise.
There is no initial franchise fee. The total investment necessary to begin operation of a Smile Source franchise is $60,500 to $435,000 if you open a new office and $27,800 to $86,200 if you convert an existing office. None of this amount is paid to the franchisor or any affiliate.