Even after candidates review the Any Lab Test Now franchise opportunity, it’s only natural that a few questions might remain. After pulling information from our research, validation and feedback, we’ve put together some of the most commonly asked questions for your review. Let us know if we missed one and we’ll add it to the list!
Our Lab Testing Franchise FAQs
Do I need healthcare industry experience to own an ANY LAB TEST NOW® franchise?
No. In fact, our business opportunities are so diverse that many different types of experience work well in our business model. We encourage you to learn more about our Ideal Candidate and Qualification Expectations before completing an inquiry form to learn more.
Does Any Lab Test Now offer franchises outside the U.S.?
ANY LAB TEST NOW® only operates and offers franchise opportunities within the United States. However, based on direct access testing regulations, we cannot operate in every state. Please review our Available Markets map to assess availability by state.
What is your franchise fee?
ANY LAB TEST NOW®’s single unit franchise fee is $40,000. We also offer micro market and multi-unit development opportunities.
What is the difference between a single unit franchise and a micro market franchise?
A single, or standalone unit, is a brick-and-mortar store location that serves a territory with a minimum Metropolitan Statistical Area (MSA) population of 110,001 in a commercial retail setting. A micro market unit is within a territory with a population of 110,000 or less, again based on the MSA. A micro market unit may be established in an approved business that complements the ANY LAB TEST NOW business model.
What is the investment range for a single unit Any Lab Test Now franchise?
The investment range for a single unit store location is $144,150 to $237,900. This range includes the franchise fee.
What are your net worth and liquid capital requirements for potential franchise candidates?
We require a minimum net worth of $300,000; and minimum liquid capital of $90,000.
Does Any Lab Test Now offer financing?
We do not offer direct financing. However, we can introduce you to our funding partners Apple Pie Capital, FranFund, and Guidant Financial if you are interested in exploring a small business / SBA loan.
Does Any Lab Test Now offer a discount on the franchise fee to veterans?
Yes, Any Lab Test Now is honored to participate in the VetFran Program and provides a ten percent (10%) discount on the franchise fee to all honorably discharged veterans.
What is Any Lab Test Now’s recurring royalty fee?
Our royalty fee is 8% gross revenue, with a minimum of $500.00 per month.
What is Any Lab Test Now's National Marketing Fee?
Our National Marketing Fee is 1% gross revenue per month.
How much money can I make if I own an Any Lab Test Now store location?
The Federal Trade Commission (FTC) regulates franchise opportunities and according to their guidelines, franchisors are prohibited from making earnings claims or specific financial projections. As you make your way through our discovery process, you’ll have the opportunity to speak with current franchise owners and review our Franchise Disclosure Document with additional details.
ANY LAB TEST NOW® is a diverse business model. We provide retail, direct access testing services directly to consumers. Therefore, a visible retail site combined with executing marketing best practices is essential. In addition, there are multiple business verticals that provide additional business growth opportunities.
How long will it take to open an Any Lab Test Now location, once I sign my Franchise Agreement?
Once the franchise fee has been paid and documentation received, you will be introduced to our Training and Implementation Team. They will immediately begin walking you through our site selection, build-out and opening process.
Most store locations are open within 180 days after Franchise Agreement execution; however, there are always variables that may delay or speed up the process, including:
- Site selection
- Lease execution
- Required permits
- Your individual participation
How do I choose a location? Do you help with site selection?
Site selection is your responsibility and our Implementation Team is always involved to help in the selection process. We are partnered with a national commercial real estate agency that understands our real estate requirements and can assist you in finding the right location. Approval is required by ANY LAB TEST NOW® prior to lease execution.
What is the recommended store size?
The recommended store size is between 500 – 1,500 square feet.
What are the required hours of operation for the store location?
All store locations are required to be open a minimum of fifty-five (55) hours per week. Any Lab Test Now owners are given the flexibility to determine the best hours of operation based on your customers’ needs, location and local culture. Common business hours are Monday through Friday, 8:00 a.m. – 6:00 p.m., and Saturday from 9:00 a.m. – 2:00 p.m.
What type of training and support can I expect as a franchise owner?
This is an excellent question. As a franchise owner, your training and support are continuous. It all starts with the Implementation and Onboarding Team, who walks you step-by-step, from site selection through your Grand Opening. You will then be assigned a Franchisee Business Coach who is your support person that is there to serve you and your staff as needed.
During the onboarding process, you will attend a week-long New Franchisee Training event at our corporate office in Atlanta, GA. We host a robust Training Portal and offer onsite visits; access to our marketing and sales departments for specific training; online webinars; regional meetings and our franchisee conference.
What types of lab tests will I be able to offer if I become a franchise owner?
Our menu of lab tests is expansive. We offer a multitude of clinical lab tests, DNA identification tests such as paternity and ancestry; and other genetic DNA tests; as well as toxicology tests, including drug and alcohol testing. In addition, we offer consumers take-home options through our branded hormone testing kits and offer specimen collection services for specialty laboratories.
Do I find my own laboratories to perform the lab tests?
No, we have you covered. That is one of the strategic advantages of our business model. All laboratories used by ANY LAB TEST NOW® must be thoroughly vetted to ensure the tests they offer are viable and meet the standards and accreditations expected by physicians, employers and other professionals who seek reliable and accurate test results. The laboratories we approve are required. In addition, the volume of testing in our system’s operations drive testing prices lower, positively impacting the franchisee’s bottom-line.
