Miracle-Ear

Hearing aids
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Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$119K - $353K
Units as of 2024
1,584 Increase 4.5% over 3 years

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

Industry Health & Wellness
Related Categories Miscellaneous Health Products, Miscellaneous Health Services, Hearing Aids
Founded 1948
Parent Company Amplifon
Leadership Marco Casale, SVP & GM
Corporate Address 150 S. 5th St., #2300
Minneapolis, MN 55402
Social Facebook, LinkedIn, YouTube

Business Overview

Franchising Since 1983 (41 years)
# of employees at HQ 100
Where seeking

This company is offering new franchises throughout the US.

# of Units 1,584 (as of 2024)

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 Information Circle
$30,000
Initial Investment Information Circle
$119,000 - $352,500
Net Worth Requirement Information Circle
$75,000
Cash Requirement Information Circle
$25,000
Veteran Incentives Information Circle
10% off franchise fee
Royalty Fee Information Circle
$48.80/aid
Ad Royalty Fee Information Circle
$75/aid
Term of Agreement Information Circle
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
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 2
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

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

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022