Miracle-Ear vs Fastest Labs Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Miracle-Ear vs Fastest Labs including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Miracle-Ear Franchise
Fastest Labs Franchise
Investment $119,000 - $352,500$79,900 - $114,150
Franchise Fee $30,000$49,500
Royalty Fee $48.80/aid7%
Advertising Fee $75/aid-
Year Founded 19482000
Year Franchised 19832010
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee $2K-10K-


Business Experience Requirements
 
Miracle-Ear Franchise
Fastest Labs Franchise
Experience
  • General business experience
  • Marketing skills
    		• -

    Financing Options
     
    Miracle-Ear Franchise
    Fastest Labs Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/No-/Yes
    Start-up Costs No/No-/Yes
    Equipment No/No-/Yes
    Inventory No/No-/Yes
    Receivables No/No-/Yes
    Payroll No/No-/Yes

    Training & Support
     
    Miracle-Ear Franchise
    Fastest Labs Franchise
    Training Ongoing training as neededClassroom Training: 35 hours
    Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperativesPurchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform
    Marketing Co-op advertising, Ad slicks, National media, Regional advertisingCo-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing
    Operations 80% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 3

    Absentee ownership of franchise is NOT allowed.

    		Number of Employees Required to Run: 1 - 3

    Expansion Plans
     
    Miracle-Ear Franchise
    Fastest Labs Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion No-

    Company Overviews

    About Miracle-Ear

    Kenneth Dahlberg started Dahlberg Electronics in 1948 and began manufacturing the first Miracle-Ear hearing aids. Today, Miracle-Ear is a subsidiary of Italian hearing aid distributor Amplifon, with U.S. headquarters in Plymouth, Minnesota. Miracle-Ear's retail locations offer free hearing tests and consultations and offer service, warranty and after-care packages with their hearing aids.

    Ken Dahlberg, a World War II aviator turned electronic inventor, created the pillow radio for hospital patients' private listening. Ken's employer rejected the idea, and this inspired the founding of Dahlberg, Inc., which became the foundation of Miracle-Ear. A few short years later, we were the first to offer an in-the-ear hearing aid. Since then, Miracle-Ear has continued to introduce innovative technology to remove the barriers of hearing loss. We've taken the size of hearing aids down to models that fit entirely in the ear canal. We've made technological improvements that allow us to customize a hearing solution to your individual hearing loss profile. And we've developed customer service practices to help ensure that you are completely satisfied with the products and support you receive from your Miracle-Ear representatives nationwide.

    The total investment necessary to begin operation of a Miracle-Ear® franchise is from $119,000 to $352,500. This includes from $35,000 to $45,000 that must be paid to the franchisor or an affiliate for an exclusive territory of up to 250,000 persons. This amount may be higher if the size (population) of your exclusive territory is larger.
    Veteran Incentives 
    10% off franchise fee

    "Entrepreneur

    #98 in Franchise 500 for 2020.
    #84 in Franchise 500 for 2021.




    About Fastest Labs

    Fas-Tes Franchise Systems, LLC is currently one of the fastest-growing drug, alcohol, and DNA testing lab franchises in the industry. They are always looking to expand their team of dedicated franchisees throughout the nation, especially in Texas, the Great Plains area, and throughout the South and Southwest. 

    The process to owning your own FastestLabs® franchise is easier than you may think! 

    In fact, no medical experience is required to own and operate a drug, alcohol, and DNA testing facility and they provide you with all of the training materials, resources, and knowledge you need to get your franchise up and running.

    Veteran Incentives  Territory size doubled