Latest News Entrepreneur Magazine Ranks Pearle Vision as No. 1 Eyecare Franchise on Franchise 500 List By Staff Wednesday, January 15, 2020 12:18 AM MASON, Ohio—Pearle Vision has been ranked as the nation’s top eyecare franchise company on Entrepreneur magazine’s highly competitive Franchise 500 list, according to a Pearle Vision announcement. The magazine’s annual rankings are based on outstanding performance in areas such as unit growth, financial strength and stability, and brand power. Pearle Vision ranked No. 1 in a new eyecare category and No. 58 overall, placing the brand in the Top 12 percent of all franchises on the list.The year 2020 marks the 12th consecutive year that Pearle Vision has been ranked among the Franchise 500 and the 36th time in the 41 years that the annual list has been published, according to the announcement. Also ranking in the new eyecare category are My Eyelab (No. 343 overall, and No. 2 in eyecare) and Eyeworks of Decatur, Ga. Eyeworks, which is listed with three corporate locations and one franchise office, did not rank in the overall top 500 list.Entrepreneur received more than 1,100 applications for the 2020 ranking, making it one of the most competitive rankings in Franchise 500 history. The list is considered an invaluable tool for potential franchisees.Pearle Vision, a division of Luxottica, operates more than 500 eyecare centers throughout the U.S., Canada and Puerto Rico.The key factors considered in the Franchise 500 are costs and fees, size and growth, support, brand strength, financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points. Details on the Franchise 500 are available at entrepreneur.com/franchise500. The rankings also are featured in the January/February issue of Entrepreneur. “Pearle Vision’s position at the top of the eyecare category demonstrates the strength of the premium optical brand’s franchise opportunity for entrepreneurs interested in the health care industry,” Pearle Vision general manager Alex Wilkes said in the announcement. “The durability of our national, legacy brand speaks to the commitment by the company and individual licensed owners to provide genuine eyecare to our patients.”The prestigious ranking comes as Pearle Vision opened new franchise locations throughout the U.S. over the past year and announced newly signed area development agreements in strategic markets in Florida, North Carolina and most recently, California. The brand also partnered with the Navy Exchange Service Command (NEXCOM) to bring national optical retail centers to at least three U.S. naval bases, the company noted.“We are excited about the opportunities offered by our Ignite program, which allows independent optometry practice owners to strengthen their business by converting the practice to a Pearle Vision franchise location, and by the development of new channels such as NEXCOM,” Wilkes said. “We look forward to bringing genuine eyecare to patients in new communities in the coming year.” Daniel Stanton, founder and chief executive officer of My Eyelab parent company Now Optics, said, "As the My Eyelab franchise continues to expand, this ranking showcases all of our collective efforts to be a leading eyecare brand. The future is bright, and the team is working as we speak to build upon this recognition." Now Optics was formerly known as Vision Precision Holdings and also includes the Stanton Optical eyecare brand. The company's retail footprint consists of more than 170 corporate and franchise locations across 25 states.