Fastest Labs

Overview

Website: fastestlabs.com/own-a-franchise/

Franchise Fee: $59,500

Royalties: 7%

Cash Investment: $100,000

Total Investment: $125,500 - $164,500

Net Worth: $400,000

VetFran: No

SBA Approved: Yes

Master Franchise / Area Developer Opportunity: No

Additional Details

Fastest Labs is the first and only drug, alcohol and DNA testing franchise in the United States that is non-medical and operates as a brick and mortar opportunity. Fastest Labs is already the number one fastest growing drug testing franchise in this industry, with over 200 physical franchise locations and thousands of drug tests conducted each year. We see clients within 5 minutes rather than a typical 1 hour wait at a medical facility. LabFusion, our proprietary drug testing technology, reads and immediately reports a client’s drug test results in a confidential portal (rather than 1-3 days) enabling Fastest Labs to be an industry disrupter. We offer a Clean, Fast, and Affordable testing experience with the professionalism and comfort of dealing with a nationally branded entity that is locally owned and operated. Low start-up costs, high margins, 9-5 banker’s hours, minimal staffing and square footage requirements, and thorough Franchisee training make a FastestLabs drug testing franchise extremely appealing.
Having started franchising in October 2010, Fastest Labs is now servicing in 35 states. We are a franchise company built by Franchisees, for Franchisees. Our Founders, Dave and LeDona Clafin, have over 28 years of experience as franchise owners of two other service based franchise businesses. They understand what it is like to be a Franchisee from a startup owner operator to a Franchisor. This is a unique strength that few Franchisors have as a skill set.
Fastest Labs has a proven client acquisition system utilizing Zoom Info and Engage CRM. We provide customized proprietary incoming and outgoing sales guides developed in-house and also utilize Scorpion for local digital marketing providing support, customized budget, strategy for SEO, Organic and PPC online marketing to acquire customers. Franchisees are assigned a Scorpion representative and are required to spend $1,500 per month for their first 12 months of advertising to kick off their digital campaign. Franchisees must pay a total of $18,000 when they sign the Franchise Agreement. We have relationships with national laboratories such as CRL, Quest, DNA Diagnostics, DNA Solutions, Alere and many more developed by the franchisor. This offers us group buying power that provides a lower cost of goods on high-quality testing kits, branded materials and lab related services necessary for this industry.
First & Only Non-Medical Drug, Alcohol & DNA Testing Franchise in the United States
No HIPPA requirements. No Medical Director. No medical liability.
Proprietary & Industry Disruptive Drug Testing Technology & FAST Processes.
B2B & B2C rapid services that drive recurring revenue and a positive customer experience.
Simple Business Model with Low Operating Cost . FAST Path to Profitability.
Small Real Estate Footprint. Minimal overhead. 1-2 Employees. M-F 9-5 banker’s hours.
World-Class Franchisor Systems, Lead Gen Program & National Vendor Partnerships.
Values-based, Franchisee-focused organization built by experienced Franchisees.
Rare ~$100K Brick & Mortar Investment & Scalable Earnings Opportunity.
High profit margins.
Single Unit Gross Revenue: $575,975
Single Unit Adjusted Earnings: $262,931 (45.65%)
37.8% YOY Systemwide Gross Revenue Growth 2022 - 2023
Average Weekly Tests: 207
Average Ticket: $57

Why Fastest Labs?

Our Ideal Franchisee

Available Markets

Background

Year founded: 2008

Year Franchised: 2010

Home Based: No

Financial Details

Franchise Fee:$59,500
Providing Earnings Guidance in Item 19 in FDD:YES
Total Investment Range: Single Unit: $125,500 - $164,500
Net Worth Requirement:$400,000
Royalty:7%
VetFran Program:No

Available Resales

There are currently no resales listed for this franchise.

Support & Training Provided

Training and support program details: