Any Lab Test Now Franchise Costs $42K – $238K (+ 2024 Profits)

Any Lab Test Now, established in 1992 and headquartered in Alpharetta, Georgia, has been a leader in the retail lab testing industry. The franchise began offering franchise opportunities in 2007. This franchise stands out in the healthcare sector by offering direct access to a wide range of lab tests without the need for a doctor’s referral or insurance.

These services include general health and wellness tests, drug and alcohol testing, and DNA testing, all provided in a professional and consumer-friendly retail setting.

Any Lab Test Now prides itself on its accessibility and affordability, addressing a growing consumer demand for healthcare transparency and convenience. The business model is designed to be simple and efficient, allowing for operation with minimal staff and low overhead costs, which appeals to entrepreneurs looking for a less intensive hands-on investment in the healthcare industry. 

Type of Expenditure	Amount (for a Stand-Alone Business)
Initial Franchise Fee	$40,000
Travel and Living Expenses (per person)	$1,250 – $2,000
Rent or Real Estate and Improvements	$55,200 – $97,500
Office Furniture, Fixtures & Equipment	$2,500 – $15,000
Décor Items	$5,000 – $7,500
Insurance Premiums (One Year)	$2,500 – $7,500
Medical Supplies	$1,000 – $1,400
Lab Equipment	$800 – $1,600
Signage	$3,500 – $8,500
Legal & Accounting Fees	$500 – $2,400
Miscellaneous Opening Costs	$550 – $3,600
Opening Inventory	$1,000 – $3,000
Grand Opening Marketing Expenditure	$3,000 – $3,000
Mandatory Financial Commitment	$6,000 – $6,000
Computer Equipment, Software, and Telephone System	$1,350 – $3,900
Additional Funds	$20,000 – $35,000
Total	$144,000 – $238,000

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Initial Franchise Fee

The Initial Franchise Fee ranges from $20,000 to $40,000, depending on the type of franchise business setup.

Royalty Fee

The Royalty Fee is the greater of $500 or 8% of Gross Revenues per month.

Marketing/Advertising Fee

Marketing and advertising efforts have an associated mandatory financial commitment which includes expenditures such as a minimum of $1,500 per month on Pay-Per-Click advertising for Stand-Alone Businesses.

Transfer Fees

The Transfer Fee varies, ranging from $0 up to $5,000, plus any applicable broker or commission fees.

Renewal Fees

A Renewal Fee of $5,000 is payable at least 30 days before the renewal of a franchise agreement.

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.

How to open a Any Lab Test Now franchise

Opening a Any Lab Test Now franchise involves several steps, designed to ensure you are a good fit for the franchise. Here are the main steps to follow to open a Any Lab Test Now franchise.

1. Initial Inquiry and Research

• Gather Information: Learn about Any Lab Test Now, including their business model, services, and market presence.
• Contact the Franchisor: Reach out through their website or by phone to express your interest and request more detailed information about the franchise opportunity.

2. Review Franchise Disclosure Document (FDD)

• Receive and Review FDD: Once you express serious interest, Any Lab Test Now will provide you with their Franchise Disclosure Document. This document contains crucial details about the business, fees, legal obligations, and support provided.
• Consult Professionals: Review the FDD with a franchise attorney and a financial advisor to fully understand your commitments and rights.

3. Financial Planning and Approval

• Financial Qualification: Assess whether you meet the financial requirements specified by Any Lab Test Now, such as initial investment costs, franchise fees, and ongoing royalties.
• Secure Financing: If you do not have the necessary capital on hand, explore financing options. Any Lab Test Now may offer guidance on financing or have partnerships with lenders.

4. Formal Application and Approval Process

• Submit Application: Complete the official application form to provide your background, financial status, and business experience.
• Interviews and Approval: Participate in interviews with the franchisor to ensure a good fit both for you and for the Any Lab Test Now brand.

5. Training and Preparation

• Undergo Training: Attend the required training program provided by Any Lab Test Now, which covers operational practices, marketing, sales, and the specifics of service offerings.
• Site Selection and Setup: Work with Any Lab Test Now to select a suitable location for your franchise and set up your store according to their guidelines.

Disclaimer

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