
My Eyelab
Eye care and eyewear- 2021 Franchise 500 Rank
-
#95 Ranked #343 last year
- Initial investment
-
$315K - $491K
- Units as of 2020
-
86 437.5% over 3 years
Company Overview
About My Eyelab
- Industry
- Health
- Related Categories
- Eye Care, Miscellaneous Health Products
- Founded
- 2006
- Parent Company
- Now Optics
- Leadership
- Daniel Stanton, CEO
Franchising Overview
- Franchising Since
- 2016 (5 years)
- # of employees at HQ
- 40
- Where seeking
-
This company is seeking new franchisees throughout the US.
- # of Units
- 86 (as of 2020)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a My Eyelab 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
- $34,900
- Initial Investment
- $314,877 - $491,227
- Net Worth Requirement
- $500,000
- Cash Requirement
- $200,000
- Veteran Incentives
- 10% off franchise fee
- Royalty Fee
- 4%
- Ad Royalty Fee
- 8%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- My Eyelab has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 131 hours
- Classroom Training
- 24.5 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
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
- 1
- Are exclusive territories available?
- Yes
Franchise 500 Ranking History
Compare where My Eyelab landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where My Eyelab ranked on other franchise lists? Find out below.
Franchise 500 Ranking
Top New Franchises
Want to stay updated on the latest franchise news?
Never miss a beat when you sign up to receive our newsletter.
We care about the protection of your data. Read our Privacy Policy
Related Franchises
Are you eager to see what else is out there? Browse more franchises that are similar to My Eyelab.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
10 Traits of the Most Successful Franchise Owners
A look at the innate qualities that lead to successful franchise ownership.
Burger King will offer toys on its menu in partnership with Nintendo
By registering their purchases, consumers will have a chance to win more than 20 Nintendo Switch consoles.
Free Webinar | May 5: The Insiders' Approach to Franchise Success
Learn the keys to franchising during our webinar with franchise experts, Rick Grossmann and Scott Greenberg!
Sonora Grill Group launches to franchise its Urban Grill concept
It is one of the five brands owned by the Mexican restaurant group to date.
Want to Get Your Name Out There With Zero Budget? Do What Chipotle Did.
A lack of cash can breed loads of creativity.
Free Webinar | April 12: How to Recruit and Onboard Franchise Owners
What does any good franchise organization recipe call for? Franchisees-the meat and potatoes of your business.