My Eyelab Launches ‘Strategic Franchise Program’ With Four Priority Markets

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PALM SPRINGS, Fla.—My Eyelab, a unit of Vision Precision Holdings, has launched a “strategic franchise program” that will emphasize single- and multi-unit franchise opportunities in the “priority markets of Florida, Pennsylvania, Virginia and Texas,” according to a My Eyelab announcement earlier this month.

My Eyelab already has commitments for 18 franchise offices, with the first of these locations opening in July in Mesquite, Texas, a spokesman told dba. He also said franchise opportunities in the Atlanta market are “sold out,” but noted that there are “opportunities remaining in Dallas and all other priority markets.”

The company also operated 15 company-owned My Eyelab offices as of last month, with plans for a 16th location to open shortly, the spokesman told dba. The franchising idea fits with the My Eyelab mission “to bring affordable, quality eyeglasses and expert eyecare services to consumers across the United States,” according to the announcement.

In addition to prescription eyewear and contact lens services, My Eyelab offices utilize “teleconsultation technology,” which the company said opens up a “host of benefits for the franchisee and customer alike.” There also is an option to have a laboratory off-site, which would eliminate “an additional investment for the business owner and enhances efficiency for patients and optometrists,” according to the announcement.

My Eyelab’s teleconsulting service utilizes proprietary software to examine and analyze a patient’s vision, allowing the My Eyelab locations to operate with or without an optometrist on site, the spokesman said. After the exam, a My Eyelab affiliated optometrist receives the patient’s results in real time on any mobile device, and can make alterations, recommendations and approvals at the touch of a button, he added.

“We’re excited to offer the opportunity to passionate optometrists and investors,” Daniel Stanton, co-founder and chief executive officer of My Eyelab said in the announcement. “Our industry-leading knowledge and dedication to our craft makes the My Eyelab franchise opportunity a standalone from our competitors.”

My Eyelab, which was established in 2013, said the initial franchise fee is $24,900, and a $200,000 liquid cash investment is required along with a $500,000 minimum net worth for interested prospects. The company is seeking single and multi-unit franchise owners in the priority markets, according to the announcement.

Vision Precision Holdings also owns Stanton Optical, which operates approximately 55 corporately owned locations across the U.S.