Difficulty: Moderately Challenging
Step1
Contact RE/MAX to talk to them about franchise opportunities and to see if you qualify. You must have real estate experience, general business experience and marketing skills. You must also commit to a 5-year renewable agreement. If you meet the qualifications, a RE/MAX representative will send you the paperwork that you need to apply. You can call RE/MAX at (800) 525-7452 to discuss their franchise opportunities.
Step2
Understand that you need a total investment of $25,000 to $199,000 to start your franchise, including an initial franchise fee of $12,500 to $25,000.
Step3
Apply for a business loan from the Small Business Administration (SBA) if you don't have access to that amount of money. The SBA reports that out of the 24 loans taken out through the SBA for RE/MAX franchises since 2001, none have failed to pay back the loan or have had to be charged off.
Step4
Negotiate your yearly costs. You must pay RE/MAX a percentage of all royalties and an annual franchise fee that you negotiate prior to opening your franchise.
Step5
Receive initial training via at RE/MAX's headquarters for five days. You will have ongoing training and also receive training at semi-annual conventions and conferences.
Step6
Receive ongoing support in the way of newsletters, company meetings, a toll-free help phone line, Internet assistance and field operators. You will also receive brochures, magazines and videos. You can participate in co-op advertising and will receive national media exposure.
