When looking for a franchise to invest in, there are several important questions to ask yourself. For instance, what is the demand for the products and services? What about the outlook for the future? What is the return on investment like? What makes this franchise unique from others?
You’ll want to take a look at key factors like the industry, the support and flexibility offered by the franchisor, and what other franchisees have to say. Today, we’re taking a closer look at what it’s like to invest in a growing retail optical franchise like My Eyelab.
Capitalizing on the $181 Billion Eye Care Industry
When narrowing down investment opportunities, it’s crucial to consider both the current state of the industry and where it is headed. Healthcare is a segment that will always be in demand, and eye care is no exception. Not only is the industry currently worth $181 billion, but it’s only expected to grow. Due to consumer trends like people focusing more on their health and increased awareness of the importance of eye care, the market is projected to grow by 7% within the next three years.
At My Eyelab, franchisees have experienced a reliable return on investment with an average unit volume of $1,129,085 and an average ticket sale of $290. Compared to the initial investment, which ranges from $299,858 to $601,197, it is clear to see why so many My Eyelab franchisees become multi-unit owners.
A One-of-A-Kind Opportunity
These days, one of the most important things franchisees can focus on is innovation. Technology is constantly changing, and staying ahead of the curve is necessary for a competitive edge. One of the things that sets My Eyelab apart from other eye care franchises is our creative use of telehealth technology.
While most eye care facilities that use a telehealth platform scrambled to roll it out during the COVID-19 pandemic, My Eyelab’s parent company, NowOptics, had already been using it for nearly a year. Since rolling it out in 2019, the company has successfully administered 1.8 million telehealth eye exams.
The use of telehealth technology offers plenty of convenience to customers and provides the contactless experience that is in such high demand. It also gives the franchisee plenty of flexibility, for they don’t even have to be in the building for their store to operate smoothly.
A Clear Path to Success
Whether you have retail experience or not, My Eyelab is an excellent option for expanding your franchise portfolio. My Eyelab’s corporate team is here for you every step of the way and will equip you with all the knowledge and tools you need to achieve success.
From our comprehensive training to automated ordering, location scouting, buildout, technology, and marketing, My Eyelab franchisees everywhere are thankful to have a partner they can count on.
“We’re grateful for the support and guidance the My Eyelab team has offered us… We can’t say enough good things about our experience as franchisees,” said Ezra Coronado, a multi-unit owner of seven locations in the greater San Antonio area.
Bring Your Entrepreneurial Vision to Life
At My Eyelab, you can invest with confidence, enjoy the flexible perks of entrepreneurship, and make a difference in your community. There is especially room for growth in markets like Tennessee, Arizona, and Florida.