ARCPOINT LAB TESTING Franchise Cost and Profit Margin – Review
ARCpoint Labs is the nation’s leading firm in the area of drug, alcohol, steroid, DNA, employment/background screens and wellness test. Among third party service providers in the drug test industry, the company provides the most competitive list of services in screening with great technological innovations. Owning an ARCpoint Labs franchise can be a very big opportunity in business that will give you the chance to set that difference in the lives of your family, customers, friends and even that of your own. So how much is ARCpoint Labs Testing franchise?
IS ARCPOINT LABS A FRANCHISE?
Since the company is into the service of providing tests and screenings related to drugs, one might be left to wonder if ARCpoint Lab Testing is a franchise. Yes the company sells franchise and they started doing that in the year 2005.
WHY SHOULD I CONSIDER AN ARCPOINT LABS FRANCHISE?
- It will interest you to know that the demand for medical testing is on the high side and it is expected to become bigger in years to come. The health based business is not affected by any form of economic down-turn and the ROI is quite high.
- The business will give you the opportunity to enjoy life to its fullest as it is only operated 5 days a week.
- You will be exposed to advanced trainings and training equipment which literally will turn you into a medical expert, even if you have no background experience in medical laboratory work.
- As a franchise of ARCpoint Labs Testing, you will benefit from multiple stream of income as you will not have to rely on just a single stream of income.
- Your over-head cost is reduced since you will be employing just a few number of workers and you have the potential to earn big as you charge your customers more relatively to the cost of getting your lab materials.
QUALIFICATIONS REQUIRED TO BECOME AN ARCPOINT LABS FRANCHISEE
If your desire is to impact lives through the kinds of services that ARCpoint Labs offer, then you might want to consider buying in to the company’s franchise. But before you do that, can you meet up with the qualifications expected of a prospective franchisee with the company. You will be expected to be:
- A strong communicator with the ability to relate with people in a well-mannered way
- Have the desire to build a strong relationship with your customers and also a good working relationship with your employees
- Focused on motivating and training for you to create operational efficiency at work.
- Have no personal or any form of business bankruptcies in the past 5 years.
- Have accredit score which is above 710.
HOW MUCH DOES AN ARCPOINT LABS TESTING FRANCHISE COST?
The ARCpoint Franchise cost will be the summation of the total investments required to run the franchise, and the initial franchise fee.
For you to be considered into buying into the company’s franchise, you will need to have an investment fund of about $150,000 to $250,000. Your net worth requirement will be in the tune of $400,000 and also a liquid cash requirement of about $75,000.
ARCPOINT LABS TESTING FRANCHISE FEE
What is the ARCpoint Labs Testing Franchise fee? That is simply the payment you are expected to pay to the company to grant you the licence to operate your franchise unit under the company’s brand name. The ARCpoint Labs Initial franchise fee is $49,500 and you will also make an ongoing royalty fee of about 7% of the gross revenue and also an ad royalty fee of 2%
DOES ARCPOINT LABS TESTING FRANCHISE OFFER TRAINING?
You will be entitled to get world-class training with ARCpoint Labs. This will enable you to attend to any medical testing, even as a non-professional. The training is divided into 5 different phases and the franchisee is expected to complete the training to the franchisor’s satisfaction.
- Orientation and business Operations
- ARCpoint University, which is made compulsory by the franchisor and it will run for 5 days at the company’s head office and another 5 days of real-time observation at the any of the company’s affiliate Lab or any approved franchise location.
- The ARCpoint Video Training sections. This covers trainings on visuals devices on the methodology of administering tests on drugs, DNA tests and alcohol.
- A member of the ARCpoint Franchise Operation Team will be assigned to visit the franchisee’s unit one week after it has been launched to assist the new management on operational organization.
- A member of the ARCpoint sales Team will visit the franchise location after 3 months of launching the unit to assist with sales issues. The monitoring will be for a period of 2 days.
WHAT IS ARCPOINT LAB TESTING FRANCHISE TERMS OF RENEWAL?
As a franchisee with ARCpoint Lab Testing Franchise, you will be able to hold the license of the company’s franchise for about 10 years. After which a renewal of another 10 years can be made if you are able to meet up with the company’s requirements for renewal
HOW TO OPEN AN ARCPOINT LAB TESTING FRANCHISE
After you have been able to get all the information you need on how to open an ARCpoint Lab Testing Franchise, the next step is to forward your application to the website of the company. This will be reviewed and feedback will be given to you after some days.
Once you are approved to open a franchise unit, an ARCpoint Lab Testing Franchise Manger will be assigned to you to assist you with the process of setting up your franchise unit.