My Eyelab
Health & Fitness Health & FitnessCompany Information
Address
3801 South Congress Avenue Palm Springs, FL 33461
Website
Tel
Email
Franchise Summary
Description
We offer franchises for the establishment and operation of My Eyelab stores. A My Eyelab store is a unique optical retail store and examination facility. The franchise includes a proprietary and well-established system that eliminates the need for an on-sight lab
Company Background
My Eyelab is a franchise opportunity where you can operate your own optical retail store. The company provides eyewear and eye care products to the public, as well as offers eye examinations by licensed optometrists. This could be one way for someone with an interest in entrepreneurship to make their mark on the industry.
Franchise Opportunity
It can be tough to start your own business, especially if you don't have the money or experience. The optical industry is a $28 billion market, but it's incredibly competitive. You need a unique selling proposition and a great team to be successful. My Eyelab offers a turnkey franchise opportunity that includes a proven system, extensive training, and support from our experienced team. We have eliminated the need for a non-sight lab or optometrist, so you can focus on providing quality eyecare and building your business.
Corporate Structure
M&D Optical Franchise, LLC a limited liability company organized in the State of Florida. They were formed in November 2015. Their principal business address is 3801 South Congress Avenue, Palm Springs, Florida, 33461.
Royalties and Marketing Fees
Royalties : 4.0% of revenue
Royalties : Up to 8% of weekly Gross Sales1 (currently is 8%)
Royalties : Currently
Earnings Transparency
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Health & Fitness Industry$928,775 / unit
Franchise Type: Standard
Average Revenue During 2020
Average Gross Profit Per Unit
Compared vs. Health & Fitness Industry$325,335 / unit
Franchise Type: Standard
Average Gross Profit During 2020
Franchise Types Available
| # | Type | Investment | Fees |
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Management Team
| # | Name | Position |
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My Eyelab Franchise System Development in 2021
FAQ
How much investment do I need to start my own My Eyelab business?
Franchisees typically require at least $299 to $601 investment to get their My Eyelab business started
What are the initial franchise fees for My Eyelab?
Franchisees typically need to pay at least $216 in fees directly to My Eyelab in order to earn the right to launch their business
How much money can I make with a My Eyelab franchise? What are
the average revenues for a typical My Eyelab business?
We estimate that the average revenue of an individual
My Eyelab unit is approximately
$928,775. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a My Eyelab unit? What
is my contractual commitment?
My Eyelab franchisees are typically required to sign up to a
7 year contract initially. The renewal length
is 5 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
The Franchisor's investment costs ranges from
$299,858 to $601,197
which is
Much Higher
than the $0 to $0 average in the Health & Fitness industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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