Pearle Vision
Eye-care centerBackground
Founded: 1961 Franchising since: 1980
In 1961, Dr. Stanley Pearle began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Georgia. There he combined complete eye exams with an extensive selection of eyewear. Today, there are nearly 850 Pearle Vision locations in the United States, Canada and Puerto Rico. In 1996, Pearle Vision became a subsidiary of Cole National Corp., an optical company.
Franchisor is a publicly-held company with 600 employee(s); 27 employee(s) in franchise department.
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, 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, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Special Programs
Pearle is involved with several charities, including the Pearle Vision Foundation and Prevent Blindness America, both dedicated to fighting blindness, and New Eyes for the Needy Inc., which works to provide better vision for poor people worldwide.
In 1961, Dr. Stanley Pearle began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Georgia. There he combined complete eye exams with an extensive selection of eyewear. Today, there are nearly 850 Pearle Vision locations in the United States, Canada and Puerto Rico. In 1996, Pearle Vision became a subsidiary of Cole National Corp., an optical company.
|
4000 Luxottica Pl. Mason, Ohio 45040 |
Phone: (800)732-7531/ (513)765-3327
Franchisee Association
National FAC |
Franchisor is a publicly-held company with 600 employee(s); 27 employee(s) in franchise department.
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2009 | 387 | 0 | 0 | 416 |
| 2008 | 402 | 0 | 0 | 496 |
| 2007 | 417 | 0 | 0 | 499 |
| 2006 | 429 | 1 | 0 | 456 |
| 2005 | 502 | 0 | 0 | 333 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, 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, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Special Programs
Pearle is involved with several charities, including the Pearle Vision Foundation and Prevent Blindness America, both dedicated to fighting blindness, and New Eyes for the Needy Inc., which works to provide better vision for poor people worldwide.
Costs and Fees
|
Total investment: $108.6K-492.4K Franchise fee: $10K-30K |
Ongoing royalty fee: 7% Term of agreement: 10 years (co-terminus w/lease), renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | Yes |
| Startup Costs | No | Yes |
| Equipment | No | Yes |
| Inventory | Yes | Yes |
| Accounts Receivable | No | Yes |
| Payroll | No | Yes |
Third-party financing source(s): Wells Fargo, Comerica, CIT Funding
Qualifications
Net worth requirement: $200K
Cash liquidity requirement: $75K-100K
Business Experience:
- Industry experience
- General business experience
- Industry experience not always necessary; depends on business acumen and financial condition
Operations
- 55% of all franchisees own more than one unit
- Number of employees needed to run franchised unit: 6
- Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators)
Training and Support
Training
Ongoing Support
Marketing Support
Other marketing support
- Available at headquarters: 1 week
- At franchisee's location: 1 week
- At company-owned location (optional) : 1 week
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
Other marketing support
- National TV, national FSI's in newspapers on Sunday
Rankings
Franchise 500® rank:
#104 (2008); #94 (2007); #139 (2006); #71 (2005);
Ranked #1 in category in:
2008; 2007; 2006;
America's Top Global Franchises:
#66 (2005);
#104 (2008); #94 (2007); #139 (2006); #71 (2005);
Ranked #1 in category in:
2008; 2007; 2006;
America's Top Global Franchises:
#66 (2005);