Miracle-Ear Inc.
Hearing instrumentsBackground
Founded: 1948 Franchising since: 1983
Franchisor has 100 employee(s); 6 employee(s) in franchise department.
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Exclusive territories available.
|
5000 Cheshire Ln. N. Plymouth, Minnesota 55446 |
Phone: (763)268-4000 |
Franchisor has 100 employee(s); 6 employee(s) in franchise department.
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2009 | 1274 | 0 | 0 | 42 |
| 2008 | 1,292 | 0 | 0 | 29 |
| 2007 | 1,277 | 0 | 0 | 30 |
| 2006 | 1,235 | 0 | 0 | 36 |
| 2005 | 1,117 | 0 | 0 | 98 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Exclusive territories available.
Costs and Fees
|
Total investment: $111.5K-356.5K Franchise fee: to $20K |
Ongoing royalty fee: $49/aid Term of agreement: 5 years, renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | No |
| Startup Costs | Yes | No |
| Equipment | Yes | No |
| Inventory | Yes | No |
| Accounts Receivable | Yes | No |
| Payroll | No | No |
Qualifications
Cash liquidity requirement: $25K
Business Experience:
- General business experience
- Marketing skills
Operations
- 80% of all franchisees own more than one unit
- Number of employees needed to run franchised unit: 3
- Absentee ownership of franchise is NOT allowed.
Training and Support
Training
Ongoing Support
Marketing Support
- Available at headquarters: 2 weeks
- At franchisee's location: As needed
- Ongoing training as needed
Ongoing Support
- Newsletter
- Meetings
- Toll-free phone line
- Grand opening
- Internet
- Security/safety procedures
- Field operations/evaluations
- Purchasing cooperatives
Marketing Support
- Co-op advertising
- Ad slicks
- National media
- Regional advertising
Rankings
Franchise 500® rank:
#38 (2008); #55 (2005);
Ranked #1 in category in:
2008; 2005;
Fastest-Growing Franchises:
#96 (2008);
#38 (2008); #55 (2005);
Ranked #1 in category in:
2008; 2005;
Fastest-Growing Franchises:
#96 (2008);