How to Buy A Franchise Show
Fastest Labs was featured on How To Buy A Franchise Show! Our founder, Dave Claflin, was interviewed by Dr John P Hayes about our successful franchise model. Dave Claflin discusses his journey leading him to create the Fastest Labs franchise model and why it is an ideal option for sales-minded people who are looking to own a business.
Fastest Labs is one of the first business models that specialize in drug and alcohol testing. Dave realized that there was an opportunity to outperform other drug and alcohol testing companies and doctor’s offices by eliminating the medical portion (blood draws), reducing the lengthy (averaging an hour) wait times while providing faster results. Client’s can receive a drug, alcohol or dna test at our facility within 5 minutes and have the results in another 5!
Fastest Labs provides a necessary service and is part of a highly successful niche of business to business services. Fastest Labs streamlines drug and alcohol testing for businesses needing pre-employment testing, random drug testing and DOT testing. Company’s HR representatives love working with Fastest Labs as they streamline the process with fast testing and quick results, allowing for employees to return to work with minimal upset to productivity.
Dave used his extensive experience as a franchisee to create a simple business model that requires a low number of employees, a small office footprint and high margins. A cold-called client became an inspiration and a strong influence on the decision to create a franchise in laboratory drug and alcohol testing.
As a student of franchise for over 20 years and with the assistance of mentor and friend, Paul Hogan, Dave stepped through the process of creating and proving the business model of Fastest Labs for two years before signing his first franchise in 2010. Fastest Labs now has 25 franchisees in seven states, an additional 2 signed on and forecasts 25 additional sales in 2017.
Fastest Labs was designed with supporting the franchisee in mind. Franchisees love Fastest Lab’s hours (5 day work week, 9-5, no weekends or holidays.) Fastest Labs does not sell a franchise to just anyone, extensive demographic research is done and franchises are rewarded in order to ensure success. Owning a franchise allows for a franchisee to live their dream by replacing their job and boss to become the boss and to build their own financial security. Once a franchisee, owners are part of the Fastest Labs franchise family and receive extensive and quality support as part of a close knit community.
The overhead cost to purchase a Fastest Labs franchise is between $66,00 to $83,00. This turn key investment includes the $35,00 franchise fee, a protected territory and 3 weeks of training and certification. We are SBA approved, VA Financing approved and have the ability to use a 401k rollover to finance a Fastest Labs franchise. Fastest Labs was named a Top New Franchise by Entrepreneur Magazine, this prestigious award is affirmation for the high success of the franchise organization in such a short period of time.
Learn more about becoming a Fastest Labs franchise family member and the opportunities in owning and growing your own business with our successful franchise business model.