My dog is KC registered, from very good lines, has a pedigree full of champions...he still isn't fit to breed from.
He'd need health testing, hips, elbows and eyes - one of the eye tests is annual, not just a one off.
If he's neither working or showing, you're not going to get good breeders wanting to use him as a stud, but the kind who churn out puppies for profit and sell them to anybody.
It's also not just a case of putting him with a bitch in heat and letting them get on with it - it quite often takes a fair bit of intervention and as the owner of the male dog that would be your job.
Add into that - any behavioural issues you're getting now will only get worse once he knows what he's supposed to be doing.
Why bother? If you're breeding to get a good working dog or a show dog from proven parents, fair enough, but it's an awful lot of hassle to get pet labs when there are already thousands registered every year.