Questions about the My Eyelab Franchise Investment
Energy, enthusiasm and an entrepreneurial spirit are a must! You do not need to have eye care industry experience to join the My Eyelab program. While we do welcome opticians/optometrists and existing optical business operators into our program, we also offer franchises to business-savvy individuals who are well versed in sales, management, and are skilled with hiring and training individuals that can contribute to the growth of the business.
We will provide training at a corporate-designated location for up to four people, including classroom training and ample on-the-job training, covering retail sales, front of store and back office policies and procedures, customer service, using of technologies, and more. We will also provide two days of on-site assistance and guidance at your store around your grand opening. In addition, we will present you with a copy of our confidential operations manual to help you run your optical services franchise properly on a day-to-day basis.
The projected initial investment range for a single start-up optical business location is between $248,130 and $495,070. This includes a franchise fee of $34,900. As with any new venture, it’s important that you have the capital needed to adequately fund your business.
Franchisees will pay a royalty fees equal to 8% of weekly gross sales. These fees allow us to fund our ongoing support services and the continued development of products and services, marketing tools, training programs, and systems upgrades.
The Advertising and Development Fund contribution is 8% of weekly gross sales. Collected funds will be used to develop marketing strategies to promote the My Eyelab brand and fund the creative costs to develop local franchise marketing materials and campaigns.
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
The initial term of your franchise agreement is seven years, with two additional successor agreement options of five years each.
If you’re interested in learning more about starting an optometry practice with My Eyelab®, click here to request our franchise program brochure. Or you can contact us at 561.800.4868 or [email protected] to discuss the possibility of setting up a meeting, speaking with our key franchise management staff, and receiving our FDD (Franchise Disclosure Document) which contains all the important details you’ll need to make an informed decision.