(PRESS RELEASE) MASON, OH – Pearle Vision announced that it has earned the No. 1 ranking in the Health Products category of Entrepreneur magazine’s recently released “2018 Franchise 500” list. Additionally, Pearle Vision ranks No. 72 overall among all franchises in the ranking, placing the brand in the top 20 percent of the top 500 U.S. franchise concepts ranked.
Entrepreneur’s evaluation includes three main factors: the size of the franchise system, growth, and financial strength and stability. Today, there are more than 3,000 U.S. franchise brands, and those participating in the Franchise 500 are given a cumulative score based on more than 150 data points that fall within these three main factors. The 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
“We’re at a pivotal point of our historic brand,” said Alex Wilkes, general manager for Pearle Vision. “The ranking on Entrepreneur’s '2018 Franchise 500' list validates the energy and momentum behind the concept. The commitment we have made in recent years to cement Pearle Vision as the premium eyecare brand, and category leader, continues to earn recognition. From the introduction of a game-changing operating model to our innovative marketing programs we are pulling the right levers to foster growth and position Pearle Vision as an attractive franchise investment.”
In the past 12 months, new Pearle Vision EyeCare Centers have opened coast to coast with new franchisees in Bellevue, WA; Atlanta, GA; suburban Detroit; and suburban Oklahoma City. Existing franchisees are deepening their connection to the brand by investing in additional locations. From New England to Florida and Arizona to Ohio, seasoned franchisees have their sights set on new center growth.
The first two area developer agreements in 2017 are also fueling Pearle Vision’s growth. Launched in early 2017, the new opportunity has resulted in Pearle Vision awarding groups of qualified franchise investors the rights to open throughout entire designated market areas (DMAs) or states. So far, area developer groups are planning to or have already opened centers in Tampa and Phoenix. Prime U.S. markets remain available for expansion, and the company is working to fill all available territories.
“We anticipate an expansion of our footprint this year and in the years that follow. The pieces are in place for robust franchise growth,” Wilkes said. “We look forward to building upon this growth in 2018, as we form new relationships, expand into new markets, and offer our existing franchisees continued support.”