When it comes to franchising, the most important decision you will make is choosing which one to invest in. After all, there are hundreds of franchises to choose from, and the model they have in place plays a significant role in your success.
Consider several factors, from the leadership team and support system to operations, flexibility, and brand history.
A Strong Support System
When running a business, you’re only as strong as the support system behind you. The leadership team plays a crucial role in setting you up for success.
Look at what kinds of support they offer throughout the opening process and research their ongoing support model. This is especially important for how they help with essential business components like business development, marketing and operations.
As soon as you join the My Eyelab team, we begin assisting you with site selection to help identify optimal real estate and the buildout of your store with our real estate tools. Franchisees also receive construction and merchandising support throughout the new store development process.
Another important factor to consider is how much experience you need to operate the franchise. With My Eyelab, the only experience you will need is business savvy and an entrepreneurial spirit. My Eyelab invests in every franchisee and their staff with continuous training and support to run and operate a retail eye care business. Not only will you get to know about our products and the eye care industry as a whole, but you’ll learn how to administer our unique eye exam experience and how to present the best product options to your customer.
Industry and Innovation
When investing in a franchise business, you will want to choose a business model that is innovative and provides an essential service. Since the COVID-19 pandemic, My Eyelab has proven to be recession-resistant and owes its success to its innovative technology.
My Eyelab’s proprietary telehealth technology has paved the way for My Eyelab to change the eye care industry and the customer’s experience. When other businesses had to close their doors during COVID-19, My Eyelab was able to remain open and service customers, by CDC guidelines. Our telehealth technology and network of independent eye doctors also allow for Franchisees to operate a cost-effective business.
The best part about the healthcare industry is that it will always be in demand. Even as businesses worldwide closed their doors during the height of the pandemic, healthcare providers were still treating patients every day. The global eye care industry is already worth around $181 billion and is expected to grow around 7% by 2025.
Flexibility and Collaboration
At My Eyelab, our franchisees always have a say. Our flexible, business model allows for a better work-life balance than most other healthcare-based franchises and even franchises in general.
Not to mention, our telehealth technology allows franchisees the freedom to focus on the customer and front of the house, while our software and system takes care of the backend.
Numbers, Testimonials and Recognition
The best thing any franchise can show you is a proven track record. Not only has My Eyelab been consistently ranked a top eye care retailer by Vision Monday, but we’ve also been ranked within the Top 100 Franchises by Entrepreneur.
Don’t forget to look at the specifics, like numbers and percentages. A franchise is a big investment, but you want to ensure that it will be worth the return. Our initial franchise fee is a modest $34,900, and, on average, our annual gross sales come out to just over $1 million. This is just one reason why so many of our franchisees become multi-unit owners.
Of course, don’t just take it from the franchisor; look at what other franchisees have to say.
“My Eyelab makes it easy to own and operate multiple stores,” said Ryan Galvez, a multi-unit owner based in Houston.
Choose A Franchise Opportunity with Proven Success
From happy franchisees to thousands of happy customers, it’s safe to say that our franchise has established itself as a solid and trustworthy one.
In October, we reached 1.8 million telehealth eye exams performed across our network of stores, and we’re just getting started. As telehealth and the healthcare industries evolve, we will remain at the forefront.
The demand is high, the timing is better than ever, and our ongoing research will ensure our franchisees remain successful and profitable.