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General

Industry

Retail Products and Services

Category

Specialized

SBA Identifier

S2587

Year of Founding

2015

Fees

Marketing Fee

8%

Royalty Fee

4%

Franchise Fee

$34,900-$34,900

Investment Range

$282K-$524K

Location units

Total U.S. Locations

99

U.S. Franchised Units

48

U.S. Corporate Units

51

Headquarters (City)

Palm Springs

Other

Item 19 - Franchise Financials

Yes

Financing Availability

yes

Started Offering Franchises

2015

Issuance of FDD Data

05/03/2021

What to know about My Eyelab franchise?

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 wellestablished system that eliminates the need for an on-sight lab.

My Eyelab is based in Palm Springs, FL. Scroll down to learn more!

How much does a My Eyelab franchise cost?

Are you wondering how much is a My Eyelab franchise? Before starting a My Eyelab franchise, it is important to know the franchise fee, working capital and other costs required to start the business.

The minimum investment amount required to open a My Eyelab franchise is $282,377 and can go all the way up to $523,927. Keep in mind, you should also allocate additional funds to live off of while the My Eyelab business ramps up. This can take as little as 6 months to over 2 years depending on the franchise opportunity. You should speak to at least 5 My Eyelab franchisees to understand the true cost of opening the franchise and how long it takes to: 1) start a My Eyelab business 2) pass break even 3) hit significant income.

After (and if) you pass the point of earning significant income from your My Eyelab franchise, there may be enough margin to hire a day-to-day manager and work less hours in the business.

Franchise Net Unit Growth

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Industry Report Request

Download our guide to compare My Eyelab. Hotels to the Specialized, Outdoor Retail Products and Services industry.

Franchise Data

Year Start of Year Units Opened Units Closed End of Year
2018 2 12 0 13
2019 13 17 0 29
2020 29 21 2 48

Additional Details

How much does a My Eyelab franchise owner make?

My Eyelab franchise earnings and revenue can vary significantly from one franchisee to another.
The My Eyelab franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.

My Eyelab discloses financials at the unit level. In other words, they show how much My Eyelab franchisees made in the past. Through analyzing this information available in the metrics tab, it can serve as a good basis to further explore the opportunity or not.

At Vetted Biz, we advise you to speak with 5 to 10 franchisees to understand how much money they are making from the My Eyelab franchise. Roughly 60% of franchises disclose financials and it makes the process easier when filtering potential franchise opportunities like My Eyelab. Don’t just speak to existing franchisees, call franchisees who have recently left the system and try to find out how much those My Eyelab owners were making.

Visit the My Eyelab metrics tab to explore the financials for this business.

What is the My Eyelab franchise fee?

Owning a My Eyelab franchise requires 4% royalty fee and 8% marketing fee. These two expenses represent the main ongoing costs you can expect to pay the franchisor throughout the franchise relationship. There may be other ongoing fees disclosed in the My Eyelab Franchise Disclosure Document

Keep in mind, there is also an initial My Eyelab franchise fee of $34,900 that is included in the initial investment amount of $282,377 to $523,927. Depending on the franchise agreement you sign, you might have to pay the full franchise fee again if you decide to extend the My Eyelab franchise relationship. Consult with a licensed franchise attorney to understand exactly what you receive for paying the My Eyelab franchise fee of $34,900.

Visit the My Eyelab metrics tab to explore the financials for this business, royalty and marketing fees compare to other Retail Products and Services franchises. You can also compare these fees for 2,000+ franchises currently offered in the U.S.

When was My Eyelab founded?

My Eyelab started offering franchises in 2015. My Eyelab was founded 7 years ago in 2015.

At Vetted Biz, we recommend franchises have 3-5 corporate locations and 5+ years of experience before offering a franchise. There needs to be proof that the business model works and is replicable before offering the franchise to other!

How many My Eyelab locations are in the U.S.?

As of 2021, there were 48 locations across the U.S. There are also 51 corporate locations. Most Retail Products and Services franchises like My Eyelab have more franchised locations than corporate locations.

How many My Eyelab franchises opened over the past few years?

Over the prior 3 years we have data for, My Eyelab has opened 50 outlets throughout the U.S. Visit the My Eyelab metrics tab to explore how the openings compare to other Retail Products and Services franchises.

How many My Eyelab franchises closed over the past few years?

Over the prior 3 years we have data for, My Eyelab has closed 2 outlets throughout the U.S

Visit the My Eyelab metrics tab to explore how the openings compare to other Retail Products and Services franchises.

Is My Eyelab growing? Are they opening more locations than they are closing?

The net unit growth rate for My Eyelab over the past 3 years is 2300%. Over the last year we have data for, My Eyelab had a net unit growth rate of 66%.

Without a comparison, this number doesn’t mean much. Compare how the My Eyelab growth rate compares to 2,000+ other franchises and Industry franchises like My Eyelab. More info in the My Eyelab metrics tab.

Is My Eyelab franchise eligible for an SBA Loan?

My Eyelab is eligible for SBA loans including the 7(a) loan. To find out more about the SBA loan program for franchising click here.

My Eyelab franchise was assigned the SBA Franchise ID of S2587 on 02/14/2018. This DOES NOT mean the SBA endorses this franchise. The SBA Franchise Directory will only include business models like My Eyelab that are reviewed and found eligible under SBA’s affiliation rules and other eligibility criteria. Currently, there are over 7,000 franchise opportunities that the SBA has deemed eligible for SBA financing.

Is My Eyelab a franchise in the United States?

According to the SBA, My Eyelab meets the Federal Trade Commission (FTC) definition of a franchise. The FTC Franchise Rule requires franchisors to provide all potential franchisees with a disclosure document (FDD) containing 23 items about the franchise, its officers, and other franchisees. Be sure that My Eyelab provides you with an FDD if you are in discussion to buy a My Eyelab.

What is the My Eyelab Franchise for Sale Rate?

The My Eyelab systemwide health and franchisee satisfaction can be measured by the My Eyelabfranchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.

My Eyelab franchise for sale rate over the past 3 years is 2%. Over the last year we have data for, My Eyelab had a franchise for sale rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the My Eyelab franchise for sale rate compares to 2,000+ other franchises and Industry franchises like My Eyelab. More info in the My Eyelab metrics tab.

What is the My Eyelab Franchise Failure Rate?

My Eyelab franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons. The failure rate is one of the most important franchise metrics to consider when investing in a franchise!

My Eyelab failure rate over the past 3 years is 4%. Over the last year we have data for, My Eyelab had a franchise failure rate of 4%.

Without a comparison, this number doesn’t mean much. Compare how the My Eyelab franchise for sale rate compares to 2,000+ other franchises and Industry franchises like My Eyelab. More info in the My Eyelab metrics tab.

How can I find out more details on My Eyelab franchise?

Visit the My Eyelab metrics tab to explore franchise profitability, industry comparables and more. Become a Vetted Member today today for exclusive access on this franchise opportunity!

Investment Midpoint

The average of the low and high range of the investment amounts calculated from the most recently available Franchise Disclosure Document

My Eyelab

$403,152

Industry median

All franchises median

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Royalty Fee

The median royalty fee from the Franchise Disclosure Document

My Eyelab

4%

Industry median

All franchises median

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Franchise Fee Midpoint

Payment that the franchisee must pay to the franchise owner in order to start a franchise.

My Eyelab

$34,900

Industry median

All franchises median

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Item 19 – Financial Performance Representations

Historical financial performance representations

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Franchise Financials

Franchisor company financial information and financial performance representations, if disclosed by the franchisor.

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Franchise Disclosure Document

Download Latest FDD (2021)

General

Industry

Retail Products and Services

Category

Specialized

SBA Identifier

S2587

Year of Founding

2015

Fees

Marketing Fee

8%

Royalty Fee

4%

Franchise Fee

$34,900-$34,900

Investment Range

$282K-$524K

Location units

Total U.S. Locations

99

U.S. Franchised Units

48

U.S. Corporate Units

51

Headquarters (City)

Palm Springs

Other

Item 19 - Franchise Financials

Yes

Financing Availability

yes

Started Offering Franchises

2015

Issuance of FDD Data

05/03/2021

Detailed Franchise metrics for My Eyelab

Detailed Franchise Metrics are metrics calculated and reviewed by Vetted Biz. You can find the available metrics for My Eyelab below. “N/A" or Not Applicable results mean that there is not enough data available to compute a precise rate or that the result is not mathematically computable. When results are not mathematically computable, you should pay attention to the absolute values (#) instead of the percentage rate itself.

Franchise Fee Midpoint

Payment that the franchisee must pay to the franchise owner in order to start a franchise.

My Eyelab

$34,900

Industry median

All franchises median

Unlock premium content

Franchise Disclosure Document

Download Latest FDD (2021)

Net Unit Growth (most recent year)

Net Unit Growth (3 years)

Failure Rate

Franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons.

 

1 year

3 years

My Eyelab

0%

4%

Industry median

All franchises median

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Franchise for Sale Rate

The percentage of units transferred to new franchisees and reacquired by franchisor.

 

1 year

3 years

My Eyelab

3%

2%

Industry median

All franchises median

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Business details

Website

https://***********.com

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Business email

**********@******.com

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Mailing address

3801 South Congress Avenue

State headquarters

Florida

Key leadership

My Eyelab

Phone

+1 (000) 0********00

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City

Palm Springs

Zip code

33461
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