Simple answers to the diagnostic testing franchise questions we hear the most.
What skills or experience do I need?
ARCpoint Labs relies on professional relationships with employers, physicians and legal courts. Franchisees should have approximately 10 years of business experience with a broad background in sales, marketing, operations, finance or general management. Networking and leadership skills and a solutions-oriented mindset are also needed.
Do I need laboratory services or medical experience?
Our franchisees do not need to have any experience with laboratory services or medical practice, although they are a plus. Our training program provides the background and certifications you need to operate in the diagnostic testing industry. We are the industry experts that allow you to leverage our decades of experience and tools such as policy development wizards and educational webinars that make you an expert as well!
How much does it cost to get started?
The average startup costs to open an ARCpoint Labs franchise are between $200,000-300,000. This includes our $54,500 franchise fee, as well as technology fees, training fees and approximately six months of working capital and lab buildout costs.
How long will it take to get started?
Our eight-step onboarding process takes between 45-90 days to ensure each candidate is certain about their decision to purchase a franchise. After signing our Franchise Agreement, you can get started with revenue generation in 30-60 days after completion of our training week in Greenville.
How big is the laboratory services industry?
The industries ARCpoint Labs services are growing and evolving every day. The global drugs of abuse testing market is expected to reach $4.6 billion by 2023, and the diagnostic testing market is expected to grow to $62.9 billion by 2024.
What makes for a successful franchisee?
Our most successful franchisees are people with excellent communication and networking skills, business-minded, solutions-oriented and not afraid of facing a challenge head-on. They want to be the face of their business in the community and be recognized as someone who is working hard to solve major healthcare issues and provide comprehensive solutions for their community, and beyond.
How does a franchisee spend their day?
Approximately 70%–80% of a franchisee’s day will be spent growing the business by meeting with and educating prospective customers. Most of your time should be spent on marketing the business and growing your presence in the markets you’ve targeted, as well as handling the finances and employee management for your lab.
How many employees will I have?
Most ARCpoint Labs franchises employ one to two people to conduct testing in the lab at first, but can expand to more as testing volume increases.
Where do I locate a lab?
ARCpoint Labs will grant you a designated territory in which you will conduct business. Your lab should be located within this territory. Our Franchise Liaison Team offers assistance in selecting the location and navigating the lease terms, and will ultimately approve your lab location.
How do I find customers?
You’ll identify customers by sales prospecting such as calls and personal visits, following up on customer referrals, joining local civic organizations and your Chamber of Commerce, business networking and reaching out to hot leads provided by ARCpoint Labs’ inbound sales engine and other widespread marketing efforts. The potential pool of customers in a given territory is vast due to our offerings in numerous market segments.
What will customers count on me for?
All customers will rely on your business to provide accurate, reliable and cost-effective diagnostic testing services through our menu of test options. Business customers may also count on you to create ongoing drug and alcohol testing programs and educate them on changes in drug and alcohol testing policy.