My 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

 
My Eyelab Franchise
Fastest Labs Franchise
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

 
My Eyelab Franchise
Fastest Labs Franchise
Experience - -

Financing Options

 
My Eyelab Franchise
Fastest Labs Franchise
  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

 
My Eyelab Franchise
Fastest Labs Franchise
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

 
My Eyelab Franchise
Fastest Labs Franchise
US Expansion Yes Yes
Canada Expansion - -
International Expansion - -

Start-Up Costs and Fees Mobile

Investment
My Eyelab Franchise
$407,477 - $585,543
Fastest Labs Franchise
$79,900 - $114,150
Franchise Fee
My Eyelab Franchise
$34,900
Fastest Labs Franchise
$49,500
Royalty Fee
My Eyelab Franchise
4%
Fastest Labs Franchise
7%
Advertising Fee
My Eyelab Franchise
8%
Fastest Labs Franchise
-
Year Founded
My Eyelab Franchise
2015
Fastest Labs Franchise
2000
Year Franchised
My Eyelab Franchise
2015
Fastest Labs Franchise
2010
Term Of Agreement
My Eyelab Franchise
-
Fastest Labs Franchise
-
Renewal Fee
My Eyelab Franchise
-
Fastest Labs Franchise
-


Business Experience Requirements

Experience
My Eyelab Franchise
-
Fastest Labs Franchise
-

Financing Options

  In-House/3rd Party
Franchise Fees
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes
Start-up Costs
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes
Equipment
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes
Inventory
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes
Receivables
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes
Payroll
My Eyelab Franchise
-/-
Fastest Labs Franchise
-/Yes

Training & Support

Training
My Eyelab Franchise
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.
Fastest Labs Franchise
Classroom Training: 35 hours
Support
My Eyelab Franchise
-
Fastest Labs Franchise
Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform
Marketing
My Eyelab Franchise
-
Fastest Labs Franchise
Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing
Operations
My Eyelab Franchise
-
Fastest Labs Franchise
Number of Employees Required to Run: 1 - 3

Expansion Plans

US Expansion
My Eyelab Franchise
Yes
Fastest Labs Franchise
Yes
Canada Expansion
My Eyelab Franchise
-
Fastest Labs Franchise
-
International Expansion
My Eyelab Franchise
-
Fastest Labs Franchise
-

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.
#95 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