Jimmy,
It appears someone has installed labscript on this computer before. Right now, the install script is fairly simple and will largely error if an existing profile directory already exists. Have you inspected the directory mentioned in the error message? You could back it up somewhere else, delete the 'labscript-suite', and try to create the profile again. Use caution though. If the profile already exists and you are on a shared computer, you are likely trying to overwrite someone else's installation which is not likely to be a good idea.
-David