Miracle-Ear

Miracle-Ear

Hearing aids
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2021 Franchise 500 Rank
#84 Ranked #98 last year
See the Full List
Initial investment
$119K - $353K
Units as of 2021
1,516 5.2% over 3 years

Company Overview

Kenneth Dahlberg started Dahlberg Electronics in 1948 and began manufacturing the first Miracle-Ear hearing aids. Today, Miracle-Ear is a subsidiary of Italian hearing aid distributor Amplifon, with U.S. headquarters in Plymouth, Minnesota. Miracle-Ear's retail locations offer free hearing tests and consultations and offer service, warranty and after-care packages with their hearing aids.

About Miracle-Ear

Industry
Health
Founded
1948
Parent Company
Amplifon USA Inc.
Leadership
Alessandro Bonacina, Executive VP Americas
Ticker Symbol
AMFPF

Franchising Overview

Franchising Since
1983 (38 years)
# of employees at HQ
200
# 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

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
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?
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

Franchise 500 Ranking History

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

Additional Rankings

Curious to know where Miracle-Ear ranked on other franchise lists? Find out below.

Ranked #84

Franchise 500 Ranking

Ranked #72

Fastest-Growing Franchises

Ranked #74

Fastest-Growing Franchises (U.S. & Canada)

Ranked #13

Top Franchises for Less Than $150,000

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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