Entrepreneur Magazine Ranks Pearle Vision as No. 1 Eyecare Franchise and No. 32 Overall and My Eyelab No. 95 Overall on 2021 Franchise 500 List

By
NEW YORK—Pearle Vision has again been ranked the nation’s top “Eye Care” franchise on Entrepreneur magazine’s prestigious Franchise 500 list, according to an announcement Tuesday. Pearle Vision, a retail division of Luxottica Retail N.A., ranked No. 32 overall among franchise companies on this year’s list (a move up from No. 58 a year ago). 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 for the second consecutive year in the “Eye Care” category, which was created last year. My Eyelab, a brand of Now Optics, ranked No. 2 on the “Eye Care” list and No. 95 on the overall list. My Eyelab moved up from its No. 343 ranking a year ago.

At No. 32 overall, Pearle Vision ranks among the top 6 percent of all franchises on the list. It is listed with 552 locations in 2020, and My Eyelab is listed with 86 locations.

This is the 13th consecutive year that Pearle Vision has been ranked among the Franchise 500 and the 37th time in the 42 years that the annual list has been published.

“2020 was a challenging year for everyone, but it was also a year of unusual opportunity,” Jason Feifer, Entrepreneur’s editor-in-chief, said in an announcement. “Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come.

Entrepreneur receives more than 1,100 applications for ranking, making the list an invaluable tool for potential franchisees.

“We are pleased that the strength of Pearle Vision’s franchise opportunity is reflected by its position at the top of the Eye Care category in the Franchise 500,” general manager Alex Wilkes said. “As a premium optical brand, we are proud of Pearle Vision’s legacy, its leadership in our industry and its commitment to our licensed owners and patients.”

Pearle Vision’s top ranking comes on the heels of a year in which the brand remained steadfastly focused on growth even as it coped with the challenges of the COVID-19 pandemic. Pearle Vision opened 16 new EyeCare Centers and signed several area development agreements.

Additionally, eight independent optometry practices were converted to Pearle Vision franchise locations through the brand’s Ignite program, with four more conversions in process and expected to be completed in early 2021. Ignite allows independent practice owners to retain control of their businesses while strengthening their businesses with infrastructure improvements from Pearle Vision.

“We celebrate the growth in all of these new markets and are excited to see our Ignite program gain traction, as more eye doctors discover they could spend more time with their patients by converting to a Pearle Vision location,” Wilkes said. “As a brand founded on taking care of people, we look forward to bringing genuine eyecare to patients in more communities as we move forward together.”

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 here; the rankings also are featured in the January/February issue of Entrepreneur, which is now available on newsstands.