Any Lab Test Now Franchise Costs: Estimated Initial Investment (Item 7, 2022 FDD)
For Stand-Alone Unit
1. Initial Franchise Fee: $40,000
- Your Initial Franchise Fee will be due upon signing the Franchise Agreement and is fully earned upon payment.
- The franchisor reduces the Initial Franchise Fee for qualifying existing franchisees opening an additional unit.
- The franchisor will not refund the Initial Franchise Fee or any other fees under any circumstances. Any Lab Test Now does not finance any fee.
2. Travel and Living Expenses (per person): $1,000 to $2,000
3. Rent or Real Estate and Improvements: $45,200 to $87,500
- If you do not own adequate space for an approved site, you must lease the space for your Business. Generally, this will include first and last months’ rent, plus a security deposit. Typical locations for Businesses are retail strip centers, shopping centers with larger anchor stores, or on streets with heavy traffic traveling to malls and office buildings.
- The typical size of a Business is 550 to 1,500 square feet.
- The terms and conditions of all agreements relating to the purchase, lease, and alteration of the property will be negotiated by all involved parties; however, the franchisor requires you to include certain lease provisions.
- The costs will vary widely and may be significantly higher than projected in this table depending on such factors as property location, population density, economic climate, prevailing interest rates and other financing costs, conditions of the property, and extent of alterations required for the property. You should investigate all of these costs in the area where you wish to establish a Business.
4. Office Furniture, Fixtures, and Equipment: $2,500 to $15,000
- This includes a fax machine, copier, calculator, secretary’s chair, trash can, file cabinet, microwave, safe, cash box, two refrigerators, paper shredder, two storage carts, etc.
5. Decor Items: $5,000 to $7,500
- Decorations may include the designated “look” and “feel” of Any Lab Test Now, including desk, dividers, branded artwork and promotional signage, clock, etc.
6. Insurance: $2,500 to $7,500
7. Medical Supplies: $1,000 to $1,400
- You will need to purchase latex gloves, instant urine screen devices for drugs of abuse, influenza vaccinations and butterfly needles, and other disposable items.
8. Lab Equipment: $800 to $1,600
- Equipment includes one or more Phlebotomist’s chairs.
9. Signage: $3,500 to $8,500
- Signage will vary from location to location based upon local ordinances and standards set by your landlord. The costs will include, but are not limited to, exterior signs. All signs must be pre-approved by the franchisor prior to your purchasing them for the lab.
10. Legal and Accounting Fees: $500 to $2,400
- These legal fees will be paid by you in order to hire an attorney to incorporate the Franchised Business and review the proposed Lease Agreements.
11. Miscellaneous Opening Costs: $550 to $3,600
- Includes other deposits, insurance, utility costs, telephone, Internet and communications costs, and incorporation fees.
12. Opening Inventory: $1,000 to $3,000
- You must purchase an initial inventory of office supplies, which includes: paper, pens, pencils, stapler, scissors, tape, post-it notes, rubber bands, paper supplies, cleaning supplies, brooms, dustpan, mop and bucket, wastebaskets, and miscellaneous items.
12. Grand Opening Marketing Expenditure: $3,000
- You will be required to spend at least $3,000 on advertising, promotion, and marketing in your Protected Territory prior to opening your location.
13. Mandatory Sales Planning and Support Expenditure: $6,000
- You are required to spend a minimum amount per month beginning with your first month of operation. If you operate a Single Unit, you are required to spend a minimum of $2,000 per month and if you operate a Micro Market Unit, you are required to spend a minimum of $750 per month. This will be used to create ongoing sales opportunities.
- You are also required to participate in Pay-Per-Click internet advertising, which counts towards the total of the Mandatory Sales Planning and Support expenditure on advertising, promotion, and marketing. At the present time, Single Units must spend a minimum of $1,500 per month on Pay-Per-Click advertising, and Micro Market Units must spend at least $650 per month on Pay-Per-Click.
- You will be required to use Any Lab Test Now’s Authorized PPC Vendor, as well as Any Lab Test Now’s approved marketing location vendor, YEXT, at an approximate cost of $300 per year per subscription.
14. Computer Equipment, Software, and Telephone System: $1,350 to $3,900
- While the franchisor does not require specific vendors for computer, Internet connectivity, and communications equipment, the franchisor requires that you meet certain minimum standards established periodically in the Manual.
- You will be required to purchase a PC or Mac as specified in the Manual for use in the operation of the business. This will include a monitor, keyboard, mouse, and printer. You will be required to purchase software as described in the Manual.
- If you plan to participate in serving clients who use FormFox or eScreen, an iPad with specifications for e-signature and a bar code scanner will be required.
- This fee will also include a two-line telephone system as well as two telephones with voicemail for each franchised location.
15. Additional Funds: $20,000 to $35,000
- This estimates your initial start-up expenses for an initial three-month period, including payroll costs, payments to physicians to perform certain services for which a licensed doctor must perform, CareEvolve customer results portal costs, other miscellaneous costs, and does not include any revenue generated by the operation of your Business.
- These figures are estimates and the franchisor cannot guarantee that you will not have additional expenses starting your Business.
16. Totals: $133,900 to $227,900
- The franchisor relied on the more than 30 years of experience of its associate, Any Test, P.C., and its 17 years of experience in the laboratory services business to compile these estimates.
For Micro Market Unit
- The total estimated initial investment necessary to begin operation of an Any Lab Test Now satellite unit ranges from $42,075 to $129,075.