My Eyelab Celebrates Successful 2020, Ranked in Entrepreneur’s Franchise 500
My Eyelab, a retail brand of Now Optics, is staying true to its vision of modernizing the eye care experience for all people and making franchising easy. My Eyelab saw tremendous growth this past year opening 28 new locations in 2020, bringing its total to 99 stores, 48 of which are franchised and 51 corporate.
In addition to an 83% same store sales increase, My Eyelab signed 57 new franchise deals, a 200% increase in new units compared to 2019, largely thanks to the 23 discovery days the company held. Overall parent company Now Optics administered 560,000 telehealth eye exams in 2020, a 60% increase from 2019, solidifying its national eye care and retail brands as optical industry leaders in optical telehealth services. Now Optics is now over 200 open locations across America.
My Eyelab recently ranked in the top 100 of Entrepreneur magazine’s Top 500, the world’s first, best and most comprehensive franchise ranking. A highly sought-after honor in the franchise industry and an invaluable source for potential franchisees, the Franchise 500 moved My Eyelab up 248 spots from 343 and ranks My Eyelab 95th for its outstanding performance in areas including unit growth, financial strength and stability and brand power.
“The pandemic brought so many challenges for all of us, but it also presented us with some unique opportunities. I’m so incredibly proud of my entire staff and all of the hard work they did during this difficult time. We are honored to be recognized on such a prestigious list amongst so many iconic brands,” said Daniel Stanton, Founder and CEO of Now Optics. “We take a lot of pride in our modern approach to eyecare and use of innovative telehealth technology. Our commitment to our customers was stronger than ever in a time where they needed us most.”
Business projections look promising for My Eyelab in 2021. Early estimates predict 50 new franchise locations and 25 new corporate locations to arrive this year, including expanded reach into three new states. My Eyelab remains dedicated to its loyal customers by leveraging their proprietary telehealth technology and remote network of available doctors to provide patients with eye exams virtually in-store. To date, the company has conducted more than 1.2 million telehealth eye exams, something no other optical provider can offer.
My Eyelab remains committed to making franchising in the eyecare space easier than ever. To continue its impressive trajectory, My Eyelab is seeking qualified franchise partners that share the same vision and have a passion for managing their own business. 70% of My Eyelab franchisees have signed or opened multiple units and 2020 saw an average of 4.75 units per closing franchisee. My Eyelab’s streamlined business model makes it easy for anyone to learn the optical industry and hit the ground running from day one. Their corporate team of experts have over 50 years of combined experience to share and provide the needed training and on-going support in all aspects of running the operation, from site selection to marketing, merchandising and technology.