Any Lab Test Now Franchise Sales, Costs & Profits (2023)

Any Lab Test Now is one of these franchises that is strongly benefitting from a post pandemic world. In the 5 years to 2023, Any Lab Test added more than 70 franchises in the US..!

Should it motivate you to buy the franchise and start a Any Lab Test Now franchise today? Not necessarily, you may want to look at the financials before, and more especially the Franchise Disclosure Document.

Starting a Any Lab Test Now franchise costs on average $133,000 yet makes $549,000 in yearly sales, is this a profitable investment?

In this article we’re looking at Any Lab Test Now franchise and the latest Franchise Disclosure Document to find out how much it (really) costs and how profitable it really is. Let’s dive in!

Key stats

Franchise fee	$40,000
Royalty fee	8.0%
Marketing fee	5.0%
Investment (mid-point)	$133,000
Average sales	$549,000
Sales to investment ratio	4.1x
Payback period	3-4 years
Minimum net worth	$300,000
Minimum liquid capital	$90,000

About Any Lab Test Now

Any Lab Test Now is a chain of retail lab testing clinics that utilizes a retail storefront business model to provide direct clinical, DNA and drug and alcohol lab testing services to consumers, businesses and government agencies.

Headquartered in Alpharetta, Georgia, the Any Lab Test Now franchise was founded in 1992 by Dr. David Perlow, M.D.It began franchising in 2017 and currently has 220 franchises and 8 company-owned locations in the US.

The original concept has grown tremendously and is now a recognized retail, direct-access lab testing company that provides customers with quick and convenient testing and results with a network of franchise owners in multiple locations across the country.

 Franchisees stand to benefit from the company’s diversified mix of services and vast knowledge of products, as well as its established systems to meet consumers’ needs and offer convenient and in-demand services in the expanding medical lab testing industry.

Any Lab Test Now franchise: pros and cons

The Pros:

• Multiple revenue streams: Any LabTest Now offers its services to a variety of sectors, such as customers, businesses and government entities, which provides its franchisees with diversified income streams.
• Financial assistance: The franchisor has relationships with third-party partners such as Apple Pie Capital, FranFund and Guidant Financial to offer franchisees funding through SBA loans.
• Pre-opening training: The franchisor has a detailed training program to help its franchisee learn the basics of a retail lab testing business, as well as customer service, branding and sales. In addition, it offers them grand opening support and ongoing training to help them run their lab clinics.
• Marketing and advertising: Any Lab Test Now provides its franchisees with turnkey marketing strategies to help them reach a wider target market. These include national media, regional advertising, social media, email marketing, web development and loyalty program apps.
• Small footprint: The franchise requires small footprints of 500–1,500 square feet, giving franchisees flexible designs that can fit into the available real estate locations.
• Site selection: The franchisor has partnered with a real estate agent to help franchisees in the site selection process of identifying a viable location, obtaining approval and executing the lease.
• Low employee requirements: The franchise concept is simple and can be launched with a minimum of two employees, which lowers the start-up and ongoing costs.

The Cons:

• No absentee ownership: The franchise does not present a passive investment opportunity. Franchisees must take part in the day-to-day operations and management of their agencies.
• Not a home-based business opportunity: The franchise cannot be operated from a home or mobile unit. Franchisees must have an established business office, warehouse or retail facility to operate from.
• Not a part-time business: Any Lab Test Now franchise is required to be open for at least 55 hours per week.

Any Lab Test Now franchise costs

You would have to invest on average $181,000 to open an Any Lab Test Now franchised stand-alone business. Yet you would invest only $86,000 to open an Any Lab Test Now micro market unit instead.

The investment covers all the start-up costs you may need to open an Any Lab Test Now franchised business. You must pay the franchisor an initial franchise fee of $40,000. In addition to this franchise fee, the investment also covers:

• Formulation costs: rent or real estate and improvements; décor items; signage; legal and accounting fees, etc.
• Equipment: office furniture, fixtures, and equipment; lab equipment; computer equipment, etc.
• Initial marketing fees: grand opening marketing expenditure
• Operating costs: travel and living expenses, real estate and related expenses, insurance, medical supplies, miscellaneous opening costs, opening inventory, mandatory sales planning and support expenditures, additional funds, etc.

Startup costs (standalone unit)

Type of Expenditure	Amount
Initial franchise fee	$40,000
Formulation costs	$54,200 – $105,900
Equipment	$3,850 – $18,900
Initial marketing fees	$3,000
Operating costs	$32,850 – $60,100
Total	$133,900 – $227,900

Startup costs (micro market unit)

Type of Expenditure	Amount
Initial franchise fee	$20,000
Formulation costs	$5,200 – $57,400
Equipment	$3,325 – $7,175
Initial marketing fees	$3,000
Operating costs	$10,550 – $41,500
Total	$42,075 – $129,075

Any Lab Test Now franchise fees

Any Lab Test Now franchise sales

On average, an Any Lab Test Now franchise makes $549,000 in net sales per year.

This number is the weighted average annual sales of 171 stand-alone units that fall in different quartiles of the 201 franchised units that operated in all of 2021. This is a significant increase as compared to 2020 (+58%, $348,000).

Is Any Lab Test Now a good investment?

We estimate that a Any Lab Test Now franchised business has a 3 to 4 years investment payback. In other words, you would repay the initial investment within 3 to 4 years on average by using the profits generated by the business.

This is an excellent and in line with most senior home care franchises.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.