Start a Iris Environmental Laboratories Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $31K - $63K

Units as of 2023: 6 14% over 3 years

Iris Environment Laboratories is a mobile business franchise specializing in mold and asbestos inspections, testing, and clearance certification for home and commercial establishments. The brand currently serves many clients, including asbestos and mold remediation companies, doctors, real estate agents, township officials, and the U.S. military.

Founded in Union, New Jersey, in 2012, Iris Environmental Laboratories is a joint project of two brothers who have decades of combined experience in business management, public regulation, and mold and asbestos inspections and testing. In 2018, Iris Environmental Laboratories began franchising the business. It has since grown to several franchises located in select states.

Why You May Want To Start an Iris Environmental Laboratories Franchise

Iris Environmental Laboratories is looking for franchisees who enjoy working with people in the field and are happy to make a difference in the lives of people. Whether or not you have experience in the industry, Iris Environmental Laboratories will provide training, particularly in three specialties - asbestos building inspection, asbestos air monitoring, and mold inspection. You may not need any prior experience in asbestos and mold testing to open an Iris Environmental Laboratories franchise.

Once you are certified, you should be ready to perform residential and commercial inspections. However, your success as an Iris Environmental Laboratories franchisee will ultimately depend on your willingness to learn and work with the franchise development team.

What Might Make an Iris Environmental Laboratories Franchise a Good Choice?

While Iris Environmental Laboratories is not alone in its industry, several things may make it stand out. One is its all-digital operational system, which is in place to increase efficiency with every transaction. Iris Environmental Laboratories strives to be environmentally friendly in its approach to inspections, and its pricing may be highly competitive. They believe the accuracy of their inspection results has been proven through the years, as has the quality of its customer service.

Opening an Iris Environmental Laboratories could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.

How To Open an Iris Environmental Laboratories Franchise

To be part of the Iris Environmental Laboratories team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.

As you decide if opening an Iris Environmental Laboratories franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if an Iris Environmental Laboratoriesfranchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Iris Environmental Laboratories franchising team questions.

Company Overview

About Iris Environmental Laboratories

Industry	Services (Other)
Related Categories	Miscellaneous Services, Miscellaneous Maintenance Businesses, Home Inspections, Miscellaneous Business Services
Founded	2012
Parent Company	Bioterra Environmental Solutions, IRIS Alliance LLC
Leadership	Rod Eustaquio, CEO
Corporate Address	2333 U.S. Hwy. 22, Bldg. 4 Union, NJ 07083
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since	2018 (6 years)
# of employees at HQ	12
Where seeking	This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Michigan, Missouri, Mississippi, Montana, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, West Virginia, Wyoming
# of Units	6 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Iris Environmental Laboratories 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 Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$15,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$31,300 - $62,510
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$75,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$3,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	20% larger territory
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5%-7%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	1%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	5 years
Is franchise term renewable?	Yes

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	Iris Environmental Laboratories 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	37 hours
Classroom Training	39 hours
Ongoing Support	Newsletter Toll-Free Line Grand Opening Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising 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? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	Yes
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	Yes
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes