Miracle Ear Franchise
Miracle-Ear franchises sell a variety of hearing aids and accessories, including products the company has invented and improved over decades in business.
$50,000
$20,000
1,588
1969
Minneapolis,MN
Marc Lundeberg
About Miracle Ear
Miracle-Ear Centers offer customized hearing aid solutions to clients who have hearing loss. The company also provides numerous health and hearing resources to clients and caregivers. Customers can take a hearing test online at the brand's website and can read articles on hearing loss, tinnitus, and other related conditions.
Clients can schedule a consultation with a licensed professional to learn about all the available options and figure out which one is best for their situation. Some of the available Miracle-Ear devices include rechargeable hearing aids with lithium-ion batteries and other solutions with Bluetooth-based technology. Clients can also learn about and purchase hearing aid accessories, including chargers, Bluetooth transmitters, and TV streaming boxes that transmit sound directly to the hearing aids.
Franchise Unit Trends & Revenue
1,588
50
$452,474
* in 2024
Franchise Fees
$20,000
Veteran's Fee: $27,000
$30 - $49
Fixed Fee based on sales of hearing aids
$25 - $75
Per Hearing Aid
Why Choose Miracle Ear?
Miracle-Ear offers clients customized solutions that can help them overcome hearing loss. This franchise may be a good choice for an entrepreneur who is interested in hearing aid technology and who wants the chance to directly make a difference in the lives of members of his or her community.
There may be unique opportunities for individuals who are already licensed and operating a hearing aid business. The franchisor may offer a program to help such an individual transition his or her business into a Miracle-Ear Center.
The Miracle-Ear company has been around for a long time, and the franchising system is well-established. The company also operates several of its own Centers, so it has unique business insights to offer franchisees. Miracle-Ear is the largest retailer of hearing aids in the United States and has earned a high place on the list of Entrepreneur Magazine's Franchise 500.
The franchisor has a training program that can help prepare franchisees for the required licensing test. Additionally, this franchise may be a good choice for military veterans, as Miracle-Ear participates in the Vet-Fran program and offers financial incentives to veterans.
Starting Costs & Investment Requirements
$119,000 - $352,500
$250,000
$50,000
Training & Support
Franchisees are required to complete the New Franchisee Business Workshop training within 90 days of their Center opening. The training is approximately one week long and may take place at the Miracle-Ear headquarters or at another designated location. Additional continuing education seminars may be required for franchisees at any point during their store's operation. Franchisee and/or employees must be licensed to sell hearing aid products, and Miracle-Ear may offer a preparation course for those who need to complete the state licensing exam.
History
Miracle-Ear has been part of the hearing-aid industry for decades. It was originally founded in 1948, and the company debuted its original "Miracle-Ear" invention in 1955. This product was the first digital hearing aid featuring an all-in-the-ear design. Throughout the next several decades, the company continued to innovate new hearing aid products and technologies.
Miracle-Ear, Inc., was incorporated in 1972, and the franchise system was launched in 1984. Since 1999, Miracle-Ear has been part of Amplifon S.p.A, which is an international retailer of hearing solutions. The company continues to operate some Miracle-Ear Centers, and it offers franchises to qualified entrepreneurs.
Ideal Candidate
Good candidates are those who wish to operate a retail business selling hearing aids and helping customers of all ages improve their quality of life. The franchisor requires owners who are individuals or sole proprietors to directly manage their Miracle-Ear Centers, so ideal candidates are those who wish to physically engage in this industry. In order to do so, entrepreneurs must acquire a state license, so potential franchisees should be licensed to sell hearing aids or willing to obtain the proper qualifications. Part of the application process involves completing a background and credit check and signing an NDA, so candidates must be prepared to go through these steps.
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