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Updated RecentlyMy Eyelab vs Fastest Labs Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of My Eyelab vs Fastest Labs including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $407,477 - $585,543 | $79,900 - $114,150 |
| Franchise Fee | $34,900 | $49,500 |
| Royalty Fee | 4% | 7% |
| Advertising Fee | 8% | - |
| Year Founded | 2015 | 2000 |
| Year Franchised | 2015 | 2010 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/Yes |
| Start-up Costs | -/- | -/Yes |
| Equipment | -/- | -/Yes |
| Inventory | -/- | -/Yes |
| Receivables | -/- | -/Yes |
| Payroll | -/- | -/Yes |
Training & Support |
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| Training | My Eyelab provides an initial training program that covers material aspects of the operation of the My Eyelab store. This training is conducted whenever a new franchise is projected to open. This initial training is in addition to the on-site opening assistance. My Eyelab will not require training or certifications in addition to the initial training. My Eyelab will, however, provide additional, optional training on occasion. Up to four employees may attend the initial training program as part of the initial franchise fee. Daniel Stanton will oversee the training program. Mr. Stanton has thirteen (13) years of experience in this business. The My Eyelab training program is not routinely scheduled, but will be provided as needed. The initial training will occur at the corporate office in Palm Springs, Florida, or at one of our other South Florida affiliate stores. The initial training program must be completed to My Eyelab satisfaction prior to store opening. | Classroom Training: 35 hours |
| Support | - | Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | - | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations | - | Number of Employees Required to Run: 1 - 3 |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | - | - |
| International Expansion | - | - |
Company Overviews
About My Eyelab
Founded in 2013, My Eyelab is one of the fastest
growing full-service teleconsulting and retail optical centers in the
nation. With the mission to provide quality eyeglasses and expert eye
care services, My Eyelab has become a leader in the eye health industry
by developing an accessible alternative to over-priced eye care
services.
My Eyelab utilizes teleconsulting to enhance efficiency for patients and
optometrists. This technology eliminates the need for an on-site
laboratory, thereby significantly reducing startup and operational costs
for franchisees.
My Eyelab has been consistently ranked by Vision Monday as along the largest retailers in the United States, most recently as the 18th largest optical retailer in the U.S.
My Eyelab is one of the fastest growing full-service teleconsulting and
retail optical centers in the nation. With the mission to provide
quality eyeglasses and expert eye care services, My Eyelab has become a
leader in the eye health industry by developing an accessible
alternative to over-priced eye care services.
The total investment necessary to begin operation of a single My
Eyelab® franchise ranges from $407,477 to $585,543. This includes
$221,027 - $271,393 that must be paid to the franchisor or their
affiliates for an initial franchise fee and for signage, furniture,
fixtures, and equipment.
If you enter into an Area Development Agreement
to develop multiple units, your initial investment will range from
$407,477 to $585,543 for each franchise unit that you commit to opening.
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#343 in Franchise 500 for 2020.
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.