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Pearle Vision
Pearle Vision is one of several gems in the collection of eyewear stores held by Luxottica Retail, which also operates the LensCrafters and Sunglass Hut chains. Pearle Vision's retail outlets offer eye exams, glasses, sunglasses, contact lenses, and optical accessories. Its 840 locations in the US, Canada, Puerto Rico, and the Caribbean are split evenly between company-owned stores and franchises. (An unrelated company, Pearle Europe, uses the brand in other countries.) Pearle Vision was established by Dr. Stanley Pearle in 1961; Italy-based Luxottica Group acquired the company in 2004 in its purchase of Cole National.
Facts & figures
The capital required to open a unit is $100,000. $300,000 is the minimum net worth required to open a location. The ongoing royalty payments from franchisees paid back to the franchisor is 7%. $70,195 is the minimum that someone opening a location should expect to invest. $650,089 is the maximum that someone opening a location should expect to invest. New franchisees pay Pearle Vision a franchise fee of $30,000. Pearle Vision was established in 1961. Pearle Vision began awarding franchises in 1980. In total, there are 562 units of this franchise open today.
