Our last PV we started cost us around 350K up front, royalties are somewhere between 15-20% of gross. We opened 04/2008, we just started making money this year (thanks recession!).
You better be in it for at least 10 years if you are looking for a gravy train. My current office is a 13 yr. old PV franchise and things are really GOOD right now!
The intellect to live free is in short supply
Chick-Fil-A has a unique recipe, and a specific way of doing business, plus you know that you will get the same, consistent product and service...every time, regardless of where you are.
On the other hand, I optical franchises have little to offer in the way of uniqueness, with the exception of maybe one-upping the competition on the best BOGO sale, or gimmicky tag line. You can't buy ChickFA chicken just anywhere, but you can buy a Versace or a Coach from just about anywhere.
Now if you really want to make money and be unique, let's talk FezzJohns...
I was thinking of opening up an animal psychologist office...I can picture it now. sorry Mrs Jones, I'll need to speak with your dog alone...that'll be $400.00. I think he will need a couple more appointments before you start seeing results!!!
I figured it was a slam dunk. (I still think it would've been). My parents nixed the idea.
I would not recommend franchising. I made the mistake in 1996 of buying into a franchise. I have been unassociated with this franchise for 6 years and it is still affecting me financially. Stay away from franchising an optical store and stay away from franchising in general. The harder you work, the more money they take and your are left with not much to show for it.
Last edited by njeyedr; 04-09-2012 at 11:21 AM. Reason: misspelling
Post #31 is right from the horses mouth, and should answer your question. It's hard to argue with someone who has been there and lived it.
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