FREE Franchise Guide!
Franchise 500 2023
2024 Franchise 500 Rank
N/R Ranked #133 last year
See the Full List
Initial investment
$300K - $601K
Units as of 2022
157 Increase 134.3% over 3 years

My Eyelab is an optical franchise specializing in accessible and affordable eye care services. They strive to use the latest automated technology to keep expenses low while maintaining a high level of care.

The first My Eyelab opened in 2006. One decade later, in 2016, they began franchising. Around this time, My Eyelab also introduced a specialty software that could provide eye care appointments via telehealth. However, customers can still book walk-in appointments for eye exams and frame fittings.

Optical stores may carry My Eyelab frame designs, designer brands, and unique styles. Each pair of lenses is cut to size in-store and goes through a quality assurance check before sending them home with the customer.

There are more than 50 My Eyelab franchises in the United States to go along with over 30 corporate-owned locations. My Eyelab is seeking to expand its reach even further.

Why You May Want to Start a My Eyelab Franchise

My Eyelab follows ICARE, a set of company ethics made up of integrity, collaboration, accountability, respect, and empowerment. My Eyelab is looking for franchisees who can effectively connect with customers.

Franchisees typically do not need a background in eyecare and can come from all walks of life. However, optometrists or healthcare industry workers looking to build a practice, investors looking to grow their portfolio, or passionate individuals with strong customer service skills may be the most well-suited to a My Eyelab franchise.

My Eyelab has been ranked in Entrepreneur's Franchise 500 several times in recent years. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

What Might Make a My Eyelab Franchise a Good Choice?

Between telehealth and same-day services, the company has not only become an affordable option for customers but a convenient one, too.

My Eyelab likes to emphasize its use of high-quality technology and eye exam services, which cover screenings for threats to the eye. As a franchisee, you should expect to perform these exams, assist customers with frames, and manage daily store operations. Though, the company usually allows absentee and multi-unit ownership.

To be part of the My Eyelab team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements. 

How To Open a My Eyelab Franchise

My Eyelab tries to streamline the franchise process by providing training to franchisees. Corporate will teach you how to use the equipment, conduct eye exams, and stick to the company's business model.

As you decide if opening a My Eyelab franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a My Eyelab franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

After completing the initial steps of applying for a My Eyelab franchise, you should compile a set of questions as you move forward with an initial phone call and attend a company discovery day. 

Find Your Perfect Franchise

Company Overview

About My Eyelab

Industry Health & Wellness
Related Categories Eye Care, Miscellaneous Health Products
Founded 2006
Parent Company Now Optics
Leadership Daniel Stanton, CEO
Corporate Address 3801 S. Congress Ave.
Palm Springs, FL 33461
Social Facebook, Twitter, LinkedIn, Instagram

Business Overview

Franchising Since 2016 (8 years)
# of employees at HQ 40
Where seeking

This company is offering new franchises in the following US states: Alabama, Arkansas, Arizona, Colorado, Florida, Georgia, Iowa, Idaho, Illinois, Kentucky, Michigan, Mississippi, North Carolina, Nevada, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia, Wisconsin, West Virginia

# of Units 157 (as of 2022)

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 Information Circle
$34,900
Initial Investment Information Circle
$299,858 - $601,197
Net Worth Requirement Information Circle
$500,000
Cash Requirement Information Circle
$200,000
Veteran Incentives Information Circle
10% off franchise fee
Royalty Fee Information Circle
4%
Ad Royalty Fee Information Circle
8%
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
Take Our Free Franchise Quiz!

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 81.5 hours
Classroom Training 20.5 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
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? Yes
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 1
Are exclusive territories available? Information Circle
Yes
Take our quick quiz to find your ideal franchise

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.

Sign Up for Our Franchise Newsletter

Stay up to date on the latest news and trends affecting the franchise industry.

Related Franchises

Are you eager to see what else is out there? Browse franchises that are similar to My Eyelab.

Compassionate Beauty

description
Boutique and spa for women with cancer

Home Helpers Home Care

description
Nonmedical/skilled home care; monitoring products and services

Vitamin Shoppe, The

description
Vitamins, minerals, supplements, sport nutrition products

Related Franchise Content

Catch up on the latest franchise news, trends, and more.

Franchise

Hilton Launches 'Hilton for Business,' Digital Travel Program Aimed at SME's

The global initiative offers a suite of tools for business travel booking and management, coupled with Hilton Honors benefits for SME's and their employees worldwide.

Franchise

What Franchisors — and Franchisees — Need to Know About Local Video Marketing

Explore how franchisors can effectively use video marketing to connect with both business partners and customers and why many are missing out on this opportunity.

Franchise

Wendy's Ushers in New Leadership as The Strategy to Propel The Fast Food Giant Into Its Next Growth Phase Continues

Learn about the strategic vision behind appointing a seasoned industry leader to steer Wendy's toward future growth in the highly competitive fast-food industry.

Franchise

Burger King Is Upping its Rebrand Strategy With a $1 Billion Acquisition. These Franchise Resets Could Tell Us About the Fast Food Giant's Chances of Succeeding.

Discover the details behind RBI's strategic acquisition of Carrols Restaurant Group, a move that represents a significant step in a broader campaign to rejuvenate the Burger King brand, and compare it to past major franchise rebrands.

Franchise

Commanding a Premium Franchise Sale in a Cautious 2024 Private Equity Investment Climate

Perfect market timing is difficult to pull off, but excellent preparation and building a valuable business in the first place is much more under your control.

Franchise

Inspire Brands Takes Jimmy John's Global with Landmark International Franchise Deals

This move marks a significant step for Inspire Brands, which has previously focused on domestic growth and acquisitions within the U.S.

See more franchise content
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