While the medical industry has been around for centuries, medical franchise opportunities have been a fairly recent development. Beginning first with product-based systems and eventually developing into service-based systems, the medical franchises we know today didn’t develop fully until the past 50 years.
The Start: Healthcare Product Franchises
Rexall – 1901
One of the first businesses to develop into a medical franchise, the Drug Merchants of America began spreading its wings at the turn of the 20th century. Eventually renamed Rexall, this franchise owned more than 20 percent of the pharmaceutical market with more than 11,000 stores by 1958 — a record that still has yet to be beaten. For a little perspective, the national chain CVS is only about half that size today.
Miracle-Ear – 1948
Miracle-Ear was developed by an army vet who returned from World War II and could not find a hearing aid that suited his needs. He soon developed a new hearing aid product that won over a large client-base, but he did not begin opening franchising opportunities until more than 30 years later, in 1983.
Pearle Vision – 1961
Opening in Savannah, Georgia to a highly-competitive eyecare market, Pearle Vision had to be different in order to stand out. However, their comprehensive, one-stop eye care clinic offered a unique service and product to an industry that craved convenience. By having a resident optometrist as well as a selection of glasses and prescription services, Pearle Vision began gaining popularity quickly. In 1980, they began franchising, and it wasn’t long before the entire world was looking to Pearle Vision as the leader in eyecare. By 1994, Pearle Vision had a worldwide reach with more than 900 stores in the United States, Canada, Belgium, and the Netherlands.
These three franchises were soon followed by others, who also focused on a product-based franchise opportunity.
The Key To Their Success
Rexall was the first business in the medical industry to open up franchising opportunities. Miracle-Ear offered a new kind of hearing aid that revolutionized the market. Pearle Vision offered a different breed of eye care that hadn’t been attempted before. The key to these businesses’ success was listening to the market, understanding the need, and providing a product that was new, innovative, and different.
While all of these companies offered quality franchise opportunities, they were all product-based services. The next step in medical franchise opportunities was a service-based business, particularly associated with senior care. Stay tuned to learn more about the history of medical franchises!
The Key To Our Success
At Men’s Vitality Center, we do our best to research and understand the medical industry. In this way, we have been able to provide a kind of men’s healthcare that stands apart from the rest, a kind that men are confident in and a kind that we know can be successful as a franchise. If you are looking to own a franchise and you are passionate about men’s health, then contact our professionals at Men’s Vitality Center today. We’ll get you started on the right track and make sure you have all the tools you need to succeed.