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How much do real estate franchise owners make?
Real-estate franchisees reported the second-highest annual income in the FBR report, reporting an income of $152,852.
Does Remax have a franchise fee?
Total Investment: The total investment necessary to begin operation of a “Remax” franchise ranges from $40,000 – $284,400. Initial Fees: Initial franchise fee: $17,500 – $35,000.
Who owns Re Max Holdings?
REMAX Holdings owns 58.3% and RIHI owns 41.7% of RE/MAX LLC.
What is a franchise fee in real estate?
Franchises have an upfront franchise fee ranging from $10,000 to $50,000. This is in addition to training, and the office build-out. For example, the median total cost of opening a RE/MAX or Keller Williams franchise today is just over $140,000, and the total cost can be as high as $350,000.
How much does a Keller Williams franchise cost?
It costs anywhere from $183,947 to $336,995 to open a Keller Williams Realty office franchise, including a $35,000 upfront franchise fee. In addition, Keller Williams franchisees are required to have at least $150,000 in cash or other liquid assets on hand.
How does a real estate franchise work?
A real estate franchise is a business model where an individual or company licenses the use of the franchisor's trademark and offers services to customers at a fixed location or through remote services.
How much is Remax worth?
RE/MAX Holdings has a market cap or net worth of $606.56 million as of October 30, 2022, making it the 2,963rd biggest public company in the US.
What is Adam Contos salary?
What is the salary of Adam Contos? As the Chief Executive Officer and Director of RE/MAX Inc, the total compensation of Adam Contos at RE/MAX Inc is $2,062,210.
How old is Dave Liniger Remax?
How old is David Liniger? David Liniger is 74, he's been the Non-Executive Chairman of the Board and Co-Founder of RE/MAX Inc since 2018.
Who is the largest real estate franchise?
Keller Williams Realty Keller Williams1. Keller Williams Realty. Keller Williams real estate was founded in 1983 by Gary Keller and Joe Williams.
Do franchisees own the property?
No, the franchisor is the entity that owns the intellectual property, patents, and trademarks of the brand or business being franchised. A franchisee buys the rights and licenses to operate a location of the franchisor.
What is a royalty fee in real estate?
Monies paid to use property, such as the use of natural resource extractions. The royalty payment is typically based upon some percentage of the income or fee for substances generated from the use of such property.
Is Remax a China brand?
About us. REMAX is the sub-brand of Hong Kong Refine Industrial(Asia) Limited. Its global marketing center. Shenzhen REMAX Co.,Ltd. is eatablished in 2008 and headquartered in Longhua district with 10,000sqr.
Who is the CEO of Re Max?
Nick Bailey (Jan 11, 2022–)RE/MAX / CEO
Is Remax a good company?
ReMax is a trusted brand by many people and has been recognized by sources such as the Trusted Real Estate Agents by BrandSpark, an independent market research company. In partnership with Newsweek, BrandSpark surveyed thousands of people about REMAX and found it to be a trustworthy company.
Is Remax a publicly traded company?
Still based in Denver and led by CEO Adam Contos, its parent company, RE/MAX Holdings Inc., is publicly traded on the New York Stock Exchange as RMAX.
When did they begin franchising?
They began franchising in 1974. The average Brokerage franchise began franchising in 2007.
Are there any RE/MAX franchise opportunities near me?
Based on 2018 FDD data, RE/MAX has franchise locations in 50 states plus DC. The largest region is the South with 1332 franchise locations.
How long is the RE/MAX franchise training?
Training Overview: Franchisees or their principal owner and the manager, if any, will be provided with a mandatory 4.5 day training program at the franchisor’s headquarters in Colorado. Franchisees or their principal owner and the manager, if any, must attend and complete the training, although achievement of a stated level of performance is not required. Franchisees or their principal owner will also be required to complete a two-day “Momentum Field Training,” through either RE/MAX, LLC or RE/MAX Regional. Prior to renewal, franchisees may be required to complete the RE/MAX 501: Maximizing Your Office Potential course and/or such other training or courses deemed necessary by the franchisor. Maximizing Your Office Potential is a management refresher course developed to help franchisees adapt to the increasingly complex real estate industry. The franchisor conducts an annual convention and may periodically conduct training conferences designed to build the RE/MAX image, assist franchisees in recruiting potential sales associates and provide an international forum for exchanging ideas on managing and operating RE/MAX offices. Attendance is optional for these events.
What is a RE/MAX franchise?
Franchise Description: The franchisor, RE/MAX, LLC, is engaged in the business of developing a network of affiliated real estate brokerage offices throughout the United States, Canada and elsewhere. The franchise offered is for the operation of a RE/MAX real estate sales office, which offers a variety of real estate services to the general public. All prospective franchisees, renewing franchisees, and transferees must meet the then current subjective and objective standards for new franchisees, including those related to relevant experience, education and licensing, background and past record of compliance with laws, financial capacity, skills, integrity and other qualities of character.
What is a franchisee's territory?
Territory Granted: Franchisees are granted the right to operate the office at a specific address-only location that first must be approved. Franchisees will not receive an exclusive territory or any other type of territorial protection. Franchisees may face competition from other franchisees, from outlets that the franchisor may come to control, from franchises in other channels of distribution that the franchisor operates, or from additional channels of distribution or competitive brands that the franchisor may come to own or control.
How long is a franchise agreement?
Term of Agreement and Renewal: The length of the initial franchise term is five years. If franchisees meet the requirements for renewal, the franchise may be renewed for an additional five-year period on the then-current terms.
Does a franchisee get financing for renewal?
Financial Assistance: A franchisee that is renewing an existing franchise may finance a portion of the renewal fee through the franchisor. Other than this assistance, the franchisor does not offer direct or indirect financing, does not guarantee a franchisee’s note, lease or obligation, and does not receive a fee from any financing source.
Can a franchisee compete with other franchisees?
Franchisees may face competition from other franchisees, from outlets that the franchisor may come to control, from franchises in other channels of distribution that the franchisor operates , or from additional channels of distribution or competitive brands that the franchisor may come to own or control.
Is there a minimum performance requirement for a RE/MAX franchise?
There are no minimum performance standards, other than attending the full training program that must be satisfied during training. Franchisees will be expected to meet high standards of real estate service and professionalism reflective of the goodwill and respect enjoyed by the RE/MAX name and organization.
How much do food franchises make?
They assume food franchise owners are the biggest moneymakers, but according to a Franchise Business Review report, 51.5 percent of food franchises earn profits of less than $50,000 a year and only about 7 percent of food franchises have profits over $250,000.
How much does a cleaning franchise cost?
This model is not to be confused with buying cleaning contracts which is a totally different model with a much smaller investment. Also not to be confused with a MASTER cleaning franchise which is more about selling franchise contracts. A master cleaning franchise is a great business for people with sales experience, and the average gross for a cleaning master franchise is $2,800,000, top earners at $5,800,000 . A master cleaning franchise will have an investment range of between $240k and $400k.
Why do we call Franchise City?
Smart investors call Franchise City because we have all the data on file. But more importantly, not everyone has the skills or background to successfully operate a senior care or staffing franchise. If you are a bad fit, even with the top franchises, you will not make money. A Taco Bell will have people walking in and buying a taco, but it doesn't really matter if you have no business skills, or are not a good communicator. With senior care, staffing and service-based businesses in general the owner is driving that business forward and they need to have specific skills in order to succeed. We provide a detailed skills assessment to all our clients as part of our free service.
What is the highest grossing franchise on QSR50?
The single highest grossing food franchise on the QSR50 is Chick-fil-A. An average Chick-fil-A generates 4.16 million dollars annually and your investment is only $10,000. But keep in mind that Chick-fil-A has a very different franchise model than other franchises and owners do not receive a traditional revenue split, or even ownership of the store. You'll earn a solid six figures, have limited risk, be part of a solid organization with traditional values but you do not own the store or gain any equity.
How much does it cost to buy a McDonald's?
Buying a Mcdonald's will cost you between $1,263,000 to $2,235,000 not including your real estate. Many people think these numbers include real estate, they do not.
What is gross revenue?
For aspiring entrepreneurs' annual gross revenue is the total amount of money that comes into your store for all goods sold. Net income is how much money is left after you pay your rent, your payroll, your royalties, insurance and everything else. Net is really the important number, as 10 million a year gross revenue is not that impressive if your expenses are 11 million! There are other important numbers like discretionary income and EBITDA (earnings before interest taxes depreciation and amortization) we'll cover those in a future article or video. Have you subscribed to us on YouTube? Franchise City YouTube
Do franchises track net revenue?
Franchises collect royalties on gross earnings, so they typically don't track the net. We help our clients gather the net numbers to make a more informed decision.
