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Century 21 Franchise Cost & Fees

Date of Incorporation: 1979
Franchising Since: 1979
Headquarters: Parsippany, New Jersey

Business Description: Century 21 Real Estate LLC is the franchisor of the world's largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the Century 21 System. The franchise is for a real estate brokerage offering with defined real estate brokerage services from a specified location under the name Century 21.

Franchise Offer: Franchises are granted to existing real estate brokerage businesses and to persons who want to start a real estate brokerage business. The franchise authorizes the franchisee to operate a real estate sales office using the Century 21 service mark and other trademarks, service marks, designs, logos and other commercial symbols periodically designated, and using a system that has been developed which includes marketing and advertising tools, training, real estate referral and broker communications procedures, various operational assistance and other items. Small Market Franchises may be offered for real estate offices in small towns or rural areas.

Financial Assistance: Neither Century 21 nor any related company are obligated to provide the franchisee with any financing. Century 21 or a related company, however, have the right to offer the franchisee financing based on several factors including without limitation the franchisee’s financial need, credit history, ability to repay, net worth, stability, as well as Century 21’s need for the development of the franchisee’s market area. Century 21 has the right to require the franchisee to furnish financial statements, tax returns and other documents. The terms of any financing are open to negotiation between the parties. Century 21 or a related company offers three types of financing in the form of promissory notes.

Training and Assistance: Training is conducted at or near Century 21 headquarters in New Jersey, or at other locations as Century 21 may choose. Each new franchisee is required to attend the next available session of the program after signing the Franchise Agreement. It is recommended that one manager for each franchised office also attend the program. On the job training is not provided. Other sales training programs are also held on a periodic basis for Century 21 brokers and sales associates at locations the Century 21 selects or through online courses. These programs may be on a variety of topics, sessions, and Century 21 may choose to charge the franchisee a fee to attend these programs.

Territory: The franchisee will be granted an exclusive territory for the area within a 1/4-mile radius (as the crow flies) from the franchisee’s office(s). The franchisee must operate his or her franchised business only from the office(s) identified in the Franchise Agreement. No franchisee is prohibited, however, from seeking listings or buyers in any area.

Term of Agreement and Renewal: The length of the franchise term is 10 years. There are no renewal rights. The franchise agreement will be extended for 10 years if the franchisee signs a Term Extension Addendum.

Obligations and Restrictions: The franchisee, if an individual and obtaining the franchise as a sole proprietor, or the Owners, if the franchisee is an entity, must participate in the management of the franchised business. The franchisee or Office manager(s) must maintain a valid real estate broker license (or the franchisee must retain a Responsible Broker for this purpose) and comply with all applicable laws, rules and regulations. The Office manager(s) must attend training, but do not need to have equity interest in the business. The franchisee will require all management personnel, including the franchisee’s Responsible Broker and manager to treat as confidential all Century 21 trade secrets and proprietary information. Century 21 also recommends that they agree not to compete with the franchisee or the Century 21 system while employed by the franchisee. The franchisee many only operate a real estate brokerage business from the office(s), unless Century 21 allows the franchisee to conduct other activities.

Estimated Number of Units: 6,900

Investment Tables:
Initial Investment for a Conversion Office
Name of Fee Low High
Initial Franchise Fee $0 $25,000
Real Estate and Improvements Not included in total
Equipment/Fixtures (Not Required) $0 $122,332
Signs - Exterior $2,000 $24,000
Signs - Yard, Open House and Rides $2,000 $21,000
Name Badges $120 $300
Miscellaneous $250 $500
Other Advertising (Not Required - 3 months) $0 $25,000
Brokers Council Fees and Assessments (Not Required - 3 Months) $105 1,500
Legal Expenses $0 $4,000
Office Supplies $1,630 $19,700
Website $0 $50,000
International Management Academy (IMA) $0 $1,800
Grand Opening Promotion $500 $31,300
Insurance Deposits and Premiums $500 $5,500
Additional Funds (3 Months) $3,501 $272,800
ESTIMATED TOTAL (does not include real estate costs) $10,606 $604,732
Initial Investment for a Start-Up Office
Name of Fee Low High
Initial Franchise Fee $0 $25,000
Real Estate and Improvements Not included in total
Equipment/Fixtures (Not Required) $0 $122,332
Signs - Exterior $2,000 $24,000
Signs - Yard, Open House and Rides $2,000 $21,000
Name Badges $120 $300
Miscellaneous $250 $500
Other Advertising (Not Required - 3 months) $0 $25,000
Brokers Council Fees and Assessments (Not Required - 3 Months) $105 1,500
Legal Expenses $0 $4,000
Office Supplies $1,630 $19,700
Website $0 $50,000
International Management Academy (IMA) $0 $1,800
Grand Opening Promotion $500 $31,300
Insurance Deposits and Premiums $500 $5,500
Additional Funds (3 Months) $3,501 $272,800
Additional Fees for a Start-Up office
Leasehold Improvements $40,000 $250,000
Facility and Space Planning $1,800 $2,800
Security and Other Deposits $7,500 $17,700
Prepaid Business Expenses $3,000 $4,600
Computer Equipment for Electronic Data Transfer System $5,000 $10,000
Additional Funds (First 3 Months after Opening) $50,000 $100,000
Total Investment for Start-Up Office $117,906 $987,832
Other Fees
Type of Fee Amount
Royalty Fee 6% of Gross Revenue, except that Gross Revenue for Property Management Services is assessed separately with a Property Management Fee equal to 1.5% of Gross Revenue.
Property Management Fees 1.5% of Gross Revenue from Property Management Services.
Minimum Monthly Royalty Fee $500 per month.
Minimum Annual Royalty Fee Varies by location.
Brokers Council Fees Varies by location.
Brand Marketing Fund (BMF) Fees PROGRAM A: 2% of monthly Gross Revenue up to $3,000,000; 0.5% of Gross Revenues over $3,000,000

PROGRAM B: 2% of monthly Gross Revenue, subject to a monthly minimum of $662 and maximum of $1,632
Lead Router Fees $375 - $5,000 per year.
International Management Academy (IMA) Fee $499 per attendee. Fee includes tuition, lodging and function meals only.
Other Training Fees Vary by course and duration.
Audit Fees Cost of audit plus fees past due, interest, late charges and costs.
Liquidated Damages The combined monthly average of Royalty Fees, advertising contributions, and any other fees under the Agreement (without regard to any fee waivers, rebate or other reductions) payable from the Opening Date through the date of early termination, multiplied by the lesser of (i) 36 or (ii) the number of full months remaining in the Term.
Special Assistance As negotiated.
Late Charges and Interest All past due payments will bear interest at the highest legal rate (not to exceed 1.5% per month) plus the highest allowable legal late charge.
Transfer/Assignment Fee $5,000
Costs and Attorney Fees Will vary.
Indemnification Will vary.
Taxes Will vary.
Relocation/Improvement Fees Will vary.
Insurance Cost of insurance.
Product/Service Fees Will vary.
Elective Programs Will vary.
Zip Platform Currently, franchisees do not have to pay a separate fee to use the technology platform, although the franchisor does reserve the right to require payment of reasonable fees to the franchisor, Zip or an affiliate for use of the platform.
Testing/Inspection Fees to Approve Supplier The franchisor does not currently charge fees for approval of a supplier, but it has the right to charge reasonable testing and inspection fees.
Expanded Location Fee For any additional Branch Offices the franchisee opens, they are required to pay an initial franchise fee per Branch Office of $10,000
Global Conference Fee $369-$549 for Conference, depending upon when franchisee registers a discount may be available.
Computer Hardware and Software Maintenance and Support $5,000 to $10,000 or more per year.

The above information has been taken from the FDD of Century 21. Year of FDD: 2016

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