MEDIchair vs My Eyelab Franchise Comparison

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

Start-Up Costs and Fees

 
MEDIchair Franchise
My Eyelab Franchise
Investment $350,000 $407,477 - $585,543
Franchise Fee $50,000 $34,900
Royalty Fee 5% of annual gross sales 4%
Advertising Fee - 8%
Year Founded 1985 2015
Year Franchised - 2015
Term Of Agreement - -
Term Of Agreement - -
Renewal Fee - -


Business Experience Requirements

 
MEDIchair Franchise
My Eyelab Franchise
Experience - -

Financing Options

 
MEDIchair Franchise
My Eyelab Franchise
  In-House/3rd Party In-House/3rd Party
Franchise Fees -/- -/-
Start-up Costs -/- -/-
Equipment -/- -/-
Inventory -/- -/-
Receivables -/- -/-
Payroll -/- -/-

Training & Support

 
MEDIchair Franchise
My Eyelab 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

 
MEDIchair Franchise
My Eyelab Franchise
US Expansion - Yes
Canada Expansion No -
International Expansion No -

Start-Up Costs and Fees Mobile

Investment
MEDIchair Franchise
$350,000
My Eyelab Franchise
$407,477 - $585,543
Franchise Fee
MEDIchair Franchise
$50,000
My Eyelab Franchise
$34,900
Royalty Fee
MEDIchair Franchise
5% of annual gross sales
My Eyelab Franchise
4%
Advertising Fee
MEDIchair Franchise
-
My Eyelab Franchise
8%
Year Founded
MEDIchair Franchise
1985
My Eyelab Franchise
2015
Year Franchised
MEDIchair Franchise
-
My Eyelab Franchise
2015
Term Of Agreement
MEDIchair Franchise
-
My Eyelab Franchise
-
Renewal Fee
MEDIchair Franchise
-
My Eyelab Franchise
-


Business Experience Requirements

Experience
MEDIchair Franchise
-
My Eyelab Franchise
-

Financing Options

  In-House/3rd Party
Franchise Fees
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-
Start-up Costs
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-
Equipment
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-
Inventory
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-
Receivables
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-
Payroll
MEDIchair Franchise
-/-
My Eyelab Franchise
-/-

Training & Support

Training
MEDIchair Franchise
-
My Eyelab Franchise
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
MEDIchair Franchise
-
My Eyelab Franchise
-
Marketing
MEDIchair Franchise
-
My Eyelab Franchise
-
Operations
MEDIchair Franchise
-
My Eyelab Franchise
-

Expansion Plans

US Expansion
MEDIchair Franchise
-
My Eyelab Franchise
Yes
Canada Expansion
MEDIchair Franchise
No
My Eyelab Franchise
-
International Expansion
MEDIchair Franchise
No
My Eyelab Franchise
-

Company Overviews

About MEDIchair

MEDIchair, a LifeMark Health Management company, is North America's largest and fastest growing Home Medical Equipment (HME) franchise company with stores coast-to-coast across Canada. MEDIchair stores carry a comprehensive line of products including wheelchairs, scooters, lift chairs, bathroom safety products, home accessibility solutions and soft/disposable personal health care products such as incontinence supplies, wound care, compression and bracing. These specialty products are designed to enhance the quality of life for people experiencing disabilities, injuries, surgeries and aging. MEDIchair prides itself on providing caring, knowledgeable and highly trained consultants committed to finding the right home health care product solution for each customer.

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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