Pearle Vision has been ranked as the nation’s top Eye Care franchise on Entrepreneur magazine’s highly competitive Franchise 500® list. 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 was ranked No. 1 in the new Eye Care category and No. 58 overall, placing the brand in the Top 12% of all franchises on the list. 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. 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’s position at the top of the Eye Care category demonstrates the strength of the premium optical brand’s franchise opportunity for entrepreneurs interested in the healthcare industry,” said Alex Wilkes, general manager of Pearle Vision. “The durability of our national, legacy brand speaks to the commitment by the company and individual licensed owners to provide genuine eye care to our patients.
We are proud to lead the way in the optical industry by remaining focused on quality of care and innovation and keeping abreast of industry trends.” 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. And last summer, Pearle Vision launched a revamped franchise development website.
“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 eye care to patients in new communities in the coming year.” 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, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order. Details on the Franchise 500 are available at entrepreneur.com/franchise500; the rankings also are featured in the January/February issue of Entrepreneur, now available on newsstands.