| ||||
Updated RecentlyARCpoint Labs vs Venture X Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of ARCpoint Labs vs Venture X including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $156,250 - $377,725 | $748,585 - $2,026,210 |
| Franchise Fee | $49,500 | $79,500 |
| Royalty Fee | 7% | 6% |
| Advertising Fee | 2% | 1% |
| Year Founded | 2005 | 2012 |
| Year Franchised | 2005 | 2016 |
| Term Of Agreement | 10 years | 20 years |
| Term Of Agreement | 10 years | 20 years |
| Renewal Fee | - | $1K |
Business Experience Requirements |
||
| Experience | - Strong entrepreneurial spirit - Share our vision of nationwide brand dominance - Previous medical industry experience is not required The financial qualifications to purchase a franchise can vary based on the area where you want to operate. First and foremost, you must have good credit and borrowing capacity. At a minimum, you should have a net worth of $350,000, liquid assets of no less than $50,000, and a credit score above 700. ARCpoint Franchise Group makes available a list of third party resources to assist with financing if needed. | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/Yes | -/- |
| Start-up Costs | -/Yes | -/Yes |
| Equipment | -/Yes | -/Yes |
| Inventory | -/Yes | -/- |
| Receivables | -/Yes | -/- |
| Payroll | -/Yes | -/- |
Training & Support |
||
| Training | Classroom Training ARCpoint Labs University classroom training takes place over a period of 5 days, Monday through Friday, at corporate headquarters in Greenville, SC. Prior to attending ARCpoint Labs University, you will receive the ARCpoint Labs video training series containing approximately 18 hours of instruction on various drug testing and DNA methodologies. After completing the video training, you will take an online exam and be ready to delve more deeply into industry requirements and regulations once you arrive in Greenville. Training consists of: • Reviewing drugs of abuse and testing methodologies • Identification of target markets, sales techniques and marketing strategies • Completion of DOT compliant training • Introduction to drug testing software • Administration and office procedures • Clinical testing and worksite (corporate) wellness On-Site Lab Training While at corporate headquarters attending ARCpoint Labs University, you will have the opportunity to put your training into action. You will spend time at our affiliate lab (in Greenville, SC) shadowing, performing drug tests and learning proper lab procedures and protocols. ARCpoint Labs Training At Your Location When you’re ready to open your business, an ARCpoint Labs operational team member will visit your lab location for comprehensive operations training to include: • Office configuration and work flow • Document management • Regulatory compliance • ARCpoint Labs established protocols • Best practices On-The-Job Training: 32 hours Classroom Training: 78 hours Additional Training: Online training | On-The-Job Training: 8 hours Classroom Training: 23 hours |
| Support | As an ARCpoint franchisee, you will have the support of a management team with 20 years of experience and expertise in this niche industry. We will support you in territory mapping analysis and site selection, third party financing, lease review, and office design and set up as well as: Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations | Number of Employees Required to Run: 2 | Absentee Ownership Allowed Number of Employees Required to Run: 2 |
Expansion Plans |
||
| US Expansion | Yes | Yes |
| Canada Expansion | - | No |
| International Expansion | - | Yes |
Company Overviews
About ARCpoint Labs
ARCpoint specializes in affordable Drug, Alcohol, DNA, Steroid, Background Screening and Preventive Care Wellness Testing. This multi-billion dollar testing industry continues to experience strong growth; encompassing all areas of business, government, judicial agencies, school systems, businesses and consumers.
Preventive care and corporate wellness programs are the new trend in today's society. Consumers want to be better informed about their health and are looking for affordable alternatives without a physicians order. Corporations are being proactive with employee wellness programs as industry studies are proving a substantial Return on Investment with future claim expenses and costs. Companies are requiring wellness screens in order to better assess corporate insurance premiums.
As we continue to expand, we're seeking franchise partners who possess a strong entrepreneurial spirit, that share our vision for achieving nationwide brand dominance in a proven system. Previous medical industry experience is not required to become an ARCpoint franchise owner.
The total investment necessary to begin operation of one ARCpoint Labs
Business ranges from $156,250 to $251,425, including $83,100 - $88,300
which must be paid to the franchisor or its affiliates. This includes an
initial franchise fee of $49,500, $24,500 of which is attributable to
the online operations of your ARCpoint Labs Business, and $24,500 of
which is attributable to the lab operations of your ARCpoint Labs
Business from an approved location.
The total investment necessary to
begin operation of 2-4 outlets under a Multi-Franchise Addendum ranges
from $200,850 to $377,725. This includes $137,700 to $237,300 that must
be paid to the franchisor or affiliate. Additional territories may be
purchased, upon the franchisor’s approval, for $34,900 each.
Veteran Incentives $5,000 off training fee
About Venture X
The days of working in a cramped cubicle are over for many people in today’s mobile work world. That has led to a rise of coworking spaces that allow for environments that are collaborative, inspiring, and stimulating.
By 2020, The Bureau of Labor Statistics estimates 65 million Americans will be freelancers, temps, independent contractors, or entrepreneurs, making up a full 40% of the workforce. Venture X provides an attractive opportunity for those workers who want to benefit from a rich work community.
Like other “sharing” industries, Venture X franchisees simply provide the modern workspace and members buy private memberships, giving them access to open areas or private offices, whichever they prefer.
Many business models today are built on this collaborative model including transportation and vacation destination sharing. Venture X is at the forefront of this growing trend. Venture X’s unique combination of open space mixed with higher revenue private offices allows for higher income opportunities. Additional revenue can be generated from event hosting to further increase the bottom line of each location.
Veteran Incentives 10% off franchise fee
#319 in Franchise 500 for 2021. Not in Franchise 500 for 2020.