BUSINESS: Retailers My Eyelab Reports 18-Unit Franchising Agreement for the Atlanta Market By Staff Wednesday, August 2, 2017 12:24 AM PALM SPRINGS, Fla.—My Eyelab, a unit of Vision Precision Holdings, reported Tuesday that it has signed an 18-location, multi-unit franchise deal that will expand My Eyelab’s operations across the Atlanta metro area. The first of the 18 locations is scheduled to open Sept. 21 in the heart of downtown Atlanta, according to a My Eyelab announcement. The franchising operation will be led by co-owners and principals Mehboob Panjwani and Shiraz Attawala, according to My Eyelab. Panjwani, who has more than 15 years of retail and franchise expertise from stints with Dunkin Donuts and Marcos Pizza, has three decades of accounting and finance experience, also. Attawala has diverse experience in finance and operations for wholesale and retail jewelry stores, convenience stores, and petroleum providers, according to the announcement. “When we began to investigate franchise opportunities, we determined that My Eyelab’s strategic vision aligned well with our desire for a scalable and sustainable business model,” Attawala said. “The multi-unit agreement, aided by My Eyelab’s strategic training and support, will allow us to provide consistent service, quality eyeglasses and expert eyecare services to the people of Greater Atlanta.” The 18-unit agreement and new management team “represents a major step for the franchise brand, with Atlanta being the beneficiary of our one-of-kind services,” My Eyelab co-founder and chief executive officer Daniel Stanton said in the announcement. “Between our intelligent, technology-based approach to eyecare, and our dedication to continuous innovation, the My Eyelab optical business model is unlike any other.” My Eyelab offers “teleconsulting services,” which the company says utilizes proprietary software that aids in the examination of patients. It also allows My Eyelab locations to operate with or without an optometrist on site, a spokesman told VMail previously. Franchising since 2016, My Eyelab offers single and multi-unit franchise options, with an initial franchise fee of $24,900, a $200,000 liquid cash investment, and $500,000 minimum net worth requirement for interested prospects, according to the announcement. Vision Precision Holdings, which also owns Stanton Optical, was ranked as the 18th largest optical retailer in the U.S. market in the Vision Monday Top 50 U.S. Retailer report published in May. The company operates about 75 corporate locations, with 13 more expected to open by year’s end. My Eyelab is seeking single and multi-unit franchise owners in the priority markets of Florida, Pennsylvania, Virginia, Texas and North Carolina.