- 2023 Franchise 500 Rank
#38 Ranked #45 last year
- Initial investment
$70K - $991K
- Units as of 2023
570 3.3% over 3 years
Pearle Vision Franchise
Do you want to become a franchise owner and provide something more important to American’s wellbeing? You can do that with a Pearle Vision franchise.
Pearle Vision is a vision care company currently headquartered in Mason, Ohio. Founded in 1961, Pearle Vision has expanded over the decades and now includes over 500 franchised locations throughout North America, including the US and Canada. Pearle Vision franchise locations are retail optical eye care centers, typically run in conjunction with optometrists’ offices.
Think of each Pearle Vision as a store where optometry patients can purchase eyeglasses and contact lenses, plus a place to get eye care when needed.
A Pearle Vision franchise opportunity could be a perfect way to expand your business operations or become a business owner for the first time while also providing an essential service to the American public.
Read on to learn what it takes to open a Pearle Vision location and the benefits of doing so.
Why should you start a Pearle Vision franchise?
You might want to start a Pearle Vision franchise of your own for many reasons.
For starters, owning a Pearle Vision franchise means providing the American public with a vital service: a place to purchase eye care products, ranging from glasses to glasses cases to contact solutions, quickly and conveniently.
On top of that, your franchise location can offer optometrist services through a healthcare professional or a licensed optometrist or ophthalmologist.
There are lots of other benefits to starting a Pearle Vision franchise location, too, including:
- Consistency of business. Everyone visits the eye doctor about once yearly, and everyone will need glasses or contacts sooner or later. If you work with a knowledgeable and reputable licensed optometrist, you’ll be even more likely to earn a loyal base of customers.
- Pearle Vision’s parent company pays all franchise ownersroyalty fees based on dispensing sales rather than professional fees for medical services. As a result, you can focus your marketing efforts on things like eyeglasses and contact sales to maximize profits.
- Pearle Vision offers all franchisees a competitive pricing scheme for popular eyewear brands, such as popular types of contacts and top optometry exam equipment.
- Pearle Vision provides all franchisees with a comprehensive launch plan. Therefore, even if you don’t have much business ownership experience, you can hit the ground running with your new Pearle Vision franchise without too much difficulty.
On top of all those benefits, Pearle Vision works with those who already own optical practices.
For instance, if you are an optometrist or optician and have your own practice and business model, it’s relatively easy to take advantage of Pearle Vision’s Ignite program, which allows you to convert your optical practice into a Pearle Vision retail/practice location to offer genuine eye care to patients.
In short, if you’ve ever wanted to get into the medical industry as a business owner or build your own glasses shop as an optometrist, Pearle Vision is the way to go.
How do you open a Pearle Vision franchise?
When opening a Pearle Vision franchise location of your very own, keep in mind that Pearle Vision is looking for specific franchise owners in the vein of founder Dr. Stanley Pearle.
They want franchisees who are outgoing and who have sales and management experience already. More importantly, they are looking for franchisees who can build relationships and lead a team — the first few years of your franchise location’s operation will be particularly crucial.
If you choose to open a Pearle Vision franchise location, remember you won't receive any guaranteed or exclusive territory.
Instead, the franchisor grants all franchisees the rights to operate a licensed Pearle Visioneye care center at a specific location, which will be outlined in your license agreement. You can only open an eye care center at that location, meaning you can only accept or solicit orders in your licensed center.
Furthermore, as the franchisee, you have to participate personally in the direct operation of your licensed eye care center, either as a store owner or provider of eye exams.
Seen in this light, it’s clear that Pearle Vision franchises are ideal for would-be business owners who want to have a direct hand in the day-to-day activities of their franchise locations.
Related: MyEyelab Franchise Guide
What training and onboarding support does Pearle Vision offer franchisees?
Pearle Vision offers new franchisees tons of training and onboarding support.
Firstly, Pearle Vision provides training for you and your staff before and after opening your franchise location. It also provides various management tools to help you successfully run your eye care center.
Pearle Vision franchise training incorporates four primary theories of learning and instruction:
- Experience-centered training.
- Opportunity-centered training.
- Subject-centered training.
- Objective-centered training.
These training types will incorporate both web-based training curricula and classroom instruction and on-the-job experiences in your eye care center as it is constructed.
Each licensed owner is also required to attend a four-day licensed owner onboarding training program, which is usually located at Pearle Vision’s headquarters in Mason, Ohio.
Pearle Vision provides comprehensive training for each new licensed owner. This includes 5 ½ days of additional training and eye care center prep after you determine the sole location of your store/practice.
Pearle Vision provides franchise owners with an established supply chain even after training. Pearle Vision negotiates on your behalf with various eye care product vendors to ensure that you can always provide classes, contacts and other products at competitive prices.
You’ll benefit from Pearle Vision's ongoing licensed owner support during your operations. This is all handled through an online portal, which provides FAQ knowledge bases, customer support and other essential support.
Don't forget that Pearle Vision handles national advertising campaigns — that way, you can successfully attract new clients and patients from around the country without taking money out of your pocket.
Pearle Vision Franchise Reviews
At the time of this writing, most Pearle Vision franchisees have excellent things to say about this overall brand.
For example, Jennifer S., a franchise owner in Chicago, Illinois, has seen lots of success over the last 28 years. According to Jennifer, “A lot of the decisions have been made, so you can concentrate on running your business and delivering the experience. It’s a fantastic opportunity.”
Other franchise owners have similar things to report. For instance, Bill N., the founder of the West Point Optical Group (which itself owns 60 Pearle Vision eyecare centers), says that his career with Pearle Vision “has been incredibly satisfying — not only because we have been able to scale the business so successfully and quickly, but also because we are able to help people see clearly.”
Related: Optometric Eye Care Center
How much does a Pearle Vision franchise cost?
Given the importance of the eye care industry, Pearle Vision franchisees need to provide a sizeable initial investment before they qualify to become licensed owners.
Specifically, Pearle Vision requires all licensed owners to have $100,000 in liquid capital plus a combined net worth of $300,000. On top of that, Pearle Vision usually requires a good credit rating from future licensed owners.
Regarding startup costs, each new Pearle Visioneye care center usually costs between $519,356 and $848,384. Your initial franchise fees, ranging from $20,000 to $30,000, are due upon signing the license agreement.
If you enjoy your time as a Pearle Vision franchisee, note that your initial franchise term will be 10 years by default. When the license agreement expires, Pearle Vision will offer you a new license agreement with a minimum term of five years, provided you meet specific requirements, like maintaining a good credit score.
Don’t forget that Pearle Vision provides all franchisees with a credit limit for each store based on how many lenses, frames and laboratory services they project you’ll purchase within a five-month timeframe. This can help you with your initial business expenses and get your eye care center off the ground.
Start a Pearle Vision Franchise Today
Ultimately, starting a new Pearle Vision franchise could be a wise business venture if you know the costs and requirements.
Everyone needs eye care, so start a Pearle Vision franchise today.
Check out Entrepreneur’s other guides and resources for more information about Pearle Vision and other franchising opportunities.
About Pearle Vision
|Industry||Health & Wellness|
|Related Categories||Eye Care, Miscellaneous Health Products, Miscellaneous Health Services|
|Leadership||Gunjan Kumar, President, Retail Licensed Brands|
420 5th Ave.
New York, NY 10018
|Social||Facebook, Twitter, LinkedIn, Instagram, YouTube|
|Franchising Since||1980 (43 years)|
|# of employees at HQ||50|
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Canada
|# of Units||570 (as of 2023)|
Information for Franchisees
Here's what you need to know if you're interested in opening a Pearle Vision 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$70,195 - $990,710|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|20% off franchise fee|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|10 years (co-terminus w/lease)|
|Is franchise term renewable?||Yes|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|In-House Financing||Pearle Vision offers in-house financing to cover the following: inventory|
|Third Party Financing||Pearle Vision 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||285 hours|
|Classroom Training||95 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||Yes|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
|# of employees required to run||4|
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where Pearle Vision landed on this year's Franchise 500 Ranking versus previous years.
Curious to know where Pearle Vision ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse franchises that are similar to Pearle Vision.
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