What experience do I need to become a mobile or optical shop franchise owner with Optical Academy?
The ideal franchise candidate for Optical Academy will most likely be newly graduated, active or retired ophthalmologists, optometrists or opticians who want to expand an existing business, move out of a corporate or partnership practice, or simply own their own unique business in the eyecare industry. We do, however, welcome entrepreneurs who are looking to join this exciting industry with a revolutionary, rewarding concept. Good candidates will be financially qualified, will share the vision for affordable eyecare for everyone and will support the compassionate side of the Optical Academy business model.
What is provided as part of the Optical Academy program?
Initial training will consist of up to one week of classroom and one week servicing events for both the franchise owner and the event coordinator. Then, in conjunction with commencing of business operations, representatives of Optical Academy will spend up to five days assisting the franchise owner and staff on-site at the franchised location. Franchise owners receive ongoing training, plus periodic field business consulting visits, as well as remote support. Our business owners have access to specifications for design and build-out of store and/or outfitting the van. All are provided with a confidential operation manual that details establishing the business, daily operating procedures, business management, suppliers, reporting functions, forms, marketing & sales, equipment and suppliers, quality control and other important business functions. Each franchisee has access to approved technology systems, including exams, patient records, accounting, etc.
How much will the Optical Academy franchise investment cost me?
The total initial investment necessary to begin operations ranges from $215,300-$613,000 for an Optical Academy Combined Outlet, and $109,000-$207,000 for an Optical Academy Mobile Business. This includes a $25,000 initial franchise fee. As with any new venture, it’s important to have adequate capital to fund the initial business growth stages.
Is financing available?
No. We do not provide direct financing to franchisees, but we may refer to financing sources on a case by case basis.
Are there ongoing fees to pay?
We charge a royalty fee equal to 6% (For Van-Only Franchise: 6% of gross revenue net of sales tax and professional fees for eye exams/ for Store and Van Franchise: 6% of gross revenue net of sales tax and professional fees for eye exams plus a flat rate royalty as follows):
Year 1 = $1,000 per month
Year 2 = $2,000 per month
Year 3 = $3,000 per month
Year 4 = $4,000 per month
Year 5 and thereafter = $5,000 per month