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Franchise 500 2023
2024 Franchise 500 Rank
#466 Ranked #438 last year
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Initial investment
$101K - $154K
Units as of 2023
138 Increase 181.6% over 3 years

Fastest Labs opened in 2000 as a drug, alcohol, and DNA lab collection company that gives its customers timely, accurate, and reliable solutions. In 2010, Fastest Labs became a franchise and expanded its reach across the United States, opening more than 45 units in multiple territories. The fast growth is attributed to Fastest Labs' commitment to excellence and providing customers accurate results–fast.

In its nationwide expansion, Fastest Labs seeks to grow its franchise team to reach new markets in Texas, the Great Plains, the South, and Southwest regions, where demand is peaking.

For potential franchisees, Fastest Labs welcomes individuals with sales, customer service, and marketing experience to run daily full-time operations at franchise locations. Potential franchisees don't need any medical expertise to run a Fastest Labs franchise—they'll provide the training. 

Why You May Want to Start a Fastest Labs Franchise

Fastest Labs has built its reputation as a reliable provider of drug, alcohol, and DNA testing services with affordability and timeliness to both individual and business customers. Starting a Fastest Labs franchise may offer growth, independence, and local ownership opportunities.

One factor that differentiates Fastest Labs from its competition is its ability to uphold professionalism, reliability, and confidentiality in its operations. To franchisees, Fastest Labs guarantees a brand that is marketable and reputable in the market. 

Fastest Labs' mission is to deliver unrivaled customer care and premier services. For customers, Fastest Labs is a reliable provider that provides services ASAP. Upon each visit, the company strives to allow customers to receive service less than 5 minutes after walking through the door. Running a Fastest Labs franchise is a chance to address critical community needs.

What Might Make a Fastest Labs Franchise a Good Choice?

To be part of the Fastest Labs team, you should make sure you're financially ready for an initial investment and potential setup fees. Franchisees will need to pay an initial franchise fee. Additionally, franchisees will need to meet a company's set net worth and liquid capital threshold. Franchisees may need to pay ongoing royalty fees, usually due on a percentage of gross income. Fastest Labs offers an option to renew a franchise after a term of seven years if both the company and franchisee are content with their progress. 

How Do You Open a Fastest Labs Franchise?

As a potential franchisee, those interested should submit an inquiry. A franchise representative may contact you if you appear to be a good fit. As you make your decision regarding whether to open a Fastest Labs franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it will not allow for possible growth.

After passing the first franchise steps, you may receive the territory demographic review. You may travel to San Antonio, Texas, to meet the organization and complete the territory approval process. On this trip, new franchisees attend dozens of hours of classroom training and later receive on-the-job training. 

Beyond the initial training, the Fastest Labs team will be with you throughout the process, as ongoing guidance and marketing are offered as you operate your franchise.

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Company Overview

About Fastest Labs

Industry Services (Other)
Related Categories Laboratory Services, Miscellaneous Business Services, Miscellaneous Services, Health & Wellness
Founded 2000
Parent Company Fas-Tes Franchise Systems LLC
Leadership David Claflin, CEO
Corporate Address 5718 University Heights, #105
San Antonio, TX 78249
Social Facebook, Twitter, LinkedIn, YouTube

Business Overview

Franchising Since 2010 (14 years)
# of employees at HQ 14
Where seeking

This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming

# of Units 138 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Fastest Labs franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$59,500 - $80,500
Initial Investment Information Circle
$101,150 - $153,700
Net Worth Requirement Information Circle
$150,000 - $200,000
Cash Requirement Information Circle
$50,000 - $75,000
Veteran Incentives Information Circle
Territory size doubled
Royalty Fee Information Circle
7%
Ad Royalty Fee Information Circle
2%
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing Fastest Labs has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training 5 hours
Classroom Training 52.5 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
Social Media
SEO
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 1-3
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where Fastest Labs landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Fastest Labs ranked on other franchise lists? Find out below.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022