The optometry franchise CEO explains how his brand is bred for success.
While Daniel Stanton got his start in sales, he always had an entrepreneurial spirit. It was his passion for starting a business that led him to create Stanton Optical in 2006 before eventually launching a franchise concept in the same industry a decade later. In 2016, My Eyelab launched its business ownership opportunity.
Since the brand began expanding through franchising, Stanton has continued to be a changing force in the eye health industry. With a goal to end costly markups associated with well-known eye care stores and providers, the optometry franchise has grown to be the 18th largest optical retailer in the United States. Today, the brand has nearly 100 stores and is projected to do $160 million in sales by the end of 2018.
1851 Franchise Magazine spoke with Stanton to learn more about My Eyelab’s development and success in franchising.
How did you first get involved with the franchising industry?
As an entrepreneur, I have always had an interest in owning a franchise or my own independent business. When identifying my next opportunity, I wanted to make sure we built a program and business that eliminated the barriers of entrance of the optical industry - which we have done with the founding of Stanton Optical and My Eyelab. We focus on offering convenient, affordable and easy eye care to everyone.
What do you love about the industry?
I love the eye care industry specifically because it solves a functional everyday need for people across the country, while delivering on their fashionable needs as well.
What do you wish you could change in franchising?
Overall, I want franchising to be easier and more rewarding, which is why we started offering franchise options for My Eyelab. Since we started franchising in 2016, we have seen expansive growth across the country. We currently operate more than 105 Stanton Optical and My Eyelab stores nationwide.
What's the biggest change you've seen in the industry since you started out in franchise development?
For My Eyelab specifically, we have seen tremendous growth in telemedicine and consolidation. Our telemedicine exams provide more accessibility and speed of eye exams for our patients, which sets us apart in the eye care industry.
What makes a great franchisee?
Our franchisees are incredibly qualified and passionate - they are motivated and have the skill set to help our company continue to improve and innovate. Someone who believes in, and truly emulates, the mission, vision and values of the brand is what makes a great franchisee.
What's the number one thing that sells franchises?
We believe the most important thing that sells franchises is implementing a great interviewing process and creating and perfecting an overall concept that works