CENTURY 21 Franchise Startup Cost, Profit & Opportunities
Century 21 Real Estate can be considered to be one of the biggest and most recognizable franchises in the real estate industry across the world. They have offices located across the United States and also in more than 65 countries from different parts of the world.
The larger parts of their offices at these locations are owned and being operated by franchise owners who receive great support from the company’s corporate head office in the form of on-going `consultations, contact programs and high-tech web interactive tools.
Information in the following article will talk about how to open a Century 21 Real Estate franchise.
ABOUT THE COMPANY
Century 21 Real Estate was established in the year 1979 and they provide services in the areas of real estate sales, lease and soliciting. The company Century 21 Real Estate LLC franchises the largest real estates in the world and they also provide a comprehensive management, training and marketing support for franchisees in the Century 21 system.
IS CENTURY 21 REAL ESTATE A FRANCHISE?
Century 21 Real Estate is a franchise with a highly workable franchising model. They started selling franchises in the year 1979, just immediately after establishment and from the experience they have, it is considered by many as one of the most lucrative franchises to buy from in this modern day.
BENEFITS OF BUYING A CENTURY 21 REAL ESTATE FRANCHISE
When you decided to be part of the networks of Century 21 Real Estate franchisees, you be give the opportunity to have great flexibility in your business and at the same time, you will be buying into a franchise that allows to run your business independently and supported by the company’s brand presence and purchasing power.
- You will benefit from the global exposure the brand has, which will serve as a comparative advantage for you among your competitors
- In-market support: The company will assist you with great support from their marketing tools which have both national and international coverage
- Comprehensive training: As a Century 21 Real Estate franchisee, you will be supported with adequate training from the moment you decide to join the franchise throughout the course of running your franchise unit
- World-class marketing: You will also benefit from a marketing strategy that works and converts excellently
- Buying power of a global brand
HOW MUCH DOES A CENTURY 21 REAL ESTATE FRANCHISE COST?
A new franchisee with the company will be expected to have $10,000 as available capital. And also the company expects their new franchisees to possess a net-worth of nothing less than $75,000 and also an investment range of between $100,000 to $500,000 will be needed to run the franchise.
CENTURY 21 REAL ESTATE FRANCHISE FEE
The Century 21 Real Estate franchise fee is that payment that you make to the company for them to grant you the license to operate under their brand name and every other identities of the company. The initial franchise fee is $25,000. You will also make an on-going royalty fee of about 6% of the monthly gross revenue of your franchise unit and an additional ad royalty fee of 2%.
DOES CENTURY 21 REAL ESTATE FRANCHISE OFFER TRAINING?
As a new franchisee with Century 21 Real Estate franchise, you will be trained at the company’s head office in New Jersey or any other designated training center approved by the company.
The franchisee or any other person assigned by him and is approved by the company will be expected to attend the training program within 24 months of signing the franchise agreement. The company does not provide on-the-job training, but the company will provide the necessary supports needed by the franchisee in the course of running their business.
The franchisee will not benefit from any territorial rights at the geographical location at which the franchise unit is being operated. If the company deems it fit, another franchise unit may be set up in close proximity with an existing franchise unit.
TERMS OF AGREEMENT
The period of time that a franchisee will hold the company’s license is 10 years from the date the franchise agreement is signed. The agreement will however be extended for another 10 years through the signing of a Term Extension Addendum.
DOES CENTURY 21 REAL ESTATE FRANCHISE PROVIDE FINANCING?
Century 21 Real Estate franchise will offer financing to franchisees to help them cover for the following: franchisee fee, cost of equipment, startup cost and so on. The company however also has a working relationship with other 3rd party lenders that re ready to fund the franchisee’s costs of setting up the franchise unit.
HOW TO OPEN A CENTURY 21 REAL ESTATE FRANCHISE
- Confirm your eligibility: The company will expect a prospective franchisee to have the following experience: great marketing skills, industry experience and a passion to run a real estate business. You will also be expected to be able to meet up with the financial requirements to establish a franchise unit.
- Submit your application: You can then proceed to the company’s website to submit your application. This will be reviewed by the Franchise Management team and you get feed-backs some few days later
- Get a location: The franchise manager will then assist you with the best location to set up your franchise unit. And also work with you to get the basic equipment and inventory for your business.