Miracle-Ear

Miracle-Ear

Hearing aids
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2022 Franchise 500 Rank
N/R Ranked #84 last year
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Initial investment
$119K - $353K
Units as of 2021
1,516 5.2% over 3 years

Here’s what you need to know if you’re interested in opening a Miracle-Ear franchise.

Listen up! Miracle-Ear could be the sound investment you've been waiting for. The first Miracle-Ear hearing aids were manufactured in 1948 by Dahlberg Electronics. After beginning to franchise in 1983, Miracle-Ear has grown to be one of the highest-selling hearing aids in the United States. Headquartered in Minneapolis, Minnesota, Miracle-Ear usually provides free testing and consultation service, and their hearing aids typically come with special deals and warranties. The hearing aids are generally produced by Amplifon, a multinational company in Italy.

Miracle-Ear helps people with hearing disabilities hear better by amplifying sounds. The company has more than 1,400 locations throughout the United States.

Why You May Want to Start a Miracle-Ear Franchise

When you open a Miracle-Ear franchise, you may have the opportunity to manage your own business, and you just might receive access to all the resources and help needed to operate that business successfully. As you will find yourself in the hearing aid business, you may also get the opportunity to make a difference in people's lives by improving their quality of life. 

The products are designed to help people who have a hearing disability. These hearing aids usually come with frequent checkups to see how the hearing aids perform and if they need any improvement or repairs. This means that running your Miracle-Ear franchise could be a continuous process of upkeep, potentially providing you with a revolving door of clients. 

To open a Miracle-Ear franchise, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. It is also important to remember that ongoing fees, including advertising fees and royalty fees, will be part of your life as a Miracle-Ear franchisee.

What Might Make Miracle-Ear a Good Choice?

Many times in the past several decades, Miracle-Ear has been ranked in Entrepreneur’s Franchise 500 based on an evaluation of more than 150 data points. These include areas in costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

There are currently more than 40 million people living in the United States with some degree of hearing loss. This may result in many consumers needing a place to purchase and maintain their hearing aids. 

With current technology, more and more hearing aids are being made for less. Miracle-Ear has been making hearing aids since 1948 and has data and knowledge to share about this industry. They use this data to provide their franchisees with the help they need to function efficiently in their new business. The company usually offers services including business workshops, store location, marketing teams, best insurance deals and assistance, sales training, and more.

How to Open a Miracle-Ear Franchise

Many franchisees find that starting their own Miracle-Ear franchise is relatively straightforward, especially for those who meet all the requirements. During the process, a Miracle-Ear representative will usually send you all the requirements, as well as plans available for you. A franchise agent is often assigned to work closely with applicants as they go through the process of opening a Miracle-Ear franchise. 

Is it time for you to help others experience the miracle of hearing?

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Company Overview

About Miracle-Ear

Founded
1948
Parent Company
Amplifon USA Inc.
Leadership
Alessandro Bonacina, Executive VP Americas

Franchising Overview

Franchising Since
1983 (39 years)
# of employees at HQ
200
Where seeking

This company is seeking new franchisees throughout the US.

# of Units
1,516 (as of 2021)

Franchisor Information

Corporate Address
150 S. 5th St., #2300
Minneapolis, MN 55402

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Miracle-Ear franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$30,000
Initial Investment
$119,000 - $352,500
Net Worth Requirement
$75,000
Cash Requirement
$25,000
Veteran Incentives
10% off franchise fee
Royalty Fee
$48.80/aid
Ad Royalty Fee
$75/aid
Term of Agreement
5 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing
Miracle-Ear offers in-house financing to cover the following: accounts receivable
Third Party Financing
Miracle-Ear has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training
34 hours
Additional Training
Ongoing training as needed
Ongoing Support
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Social Media
SEO
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
2
Are exclusive territories available?
Yes
Take our quick quiz to find your ideal franchise

Work with a free franchise expert and get what you need to start a Miracle-Ear franchise.

Franchise 500 Ranking History

Compare where Miracle-Ear landed on this year’s Franchise 500 Ranking versus previous years.

Stock History for Miracle-Ear

Ticker Symbol for Miracle-Ear: AMFPF

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021