Pearle Vision Signs Area Development Agreement in California’s East Bay Area
Two investors in the greater San Francisco area have signed an area development agreement to build five Pearle Vision EyeCare Centers in five years.
Satheesh Rangappan and Apurva Pancholi are the new licensed owners in the East Bay, California, area development agreement. The East Bay territory includes the cities of Danville, Walnut Creek, Pleasanton, Pleasant Hill, Livermore, Castro Valley, San Ramon and Dublin.
“We are excited about bringing new Pearle Vision EyeCare Centers to the East Bay area,” said Rangappan. “We look forward to bringing quality eye care services to more neighborhoods and appreciate the opportunity to invest in the health and well-being of our community.”
Rangappan is CEO/founder of Web-Tech solutions and has extensive experience in software consulting and development. He also is a franchisee of Sport Clips Haircuts, with three locations in the Bay Area.
Pancholi is CEO/founder of Omnisenz Inc., an e-commerce and artificial intelligence/machine learning consulting company. His background is in providing technical and business solutions to global clients in life science, telecommunication and retail industries, and he previously worked at a global consulting company.
An area development agreement grants franchisees exclusive territory rights in exchange for signing a contract to open a certain number of units in a particular market within a defined timeframe. Pearle Vision licensed owners with an area development agreement pay a reduced franchise fee and lower royalty fees.