Difficulty: Moderately Challenging
Step1
Fill out the "Contact Us" form on the franchise page of Century 21's website. Upon completion of the form, you will be contacted by Century 21 about franchising opportunities within your state. The company will send you the application to fill out if you qualify.
Step2
Fulfill Century 21's requirements. You are required to have a net worth at least $75,000 and have real estate, general business and marketing experience. You must also commit to a ten-year nonrenewable agreement.
Step3
Understand that you will need an investment of $11,800 to $522,800 to start your franchise. You will pay an initial franchise fee of $25,000.
Step4
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 34 loans for taken out through the SBA for Century 21 franchises since 2001, 2.94% have failed to pay back the loan. The SBA has also not completely charged off anyone who has received such a loan.
Step5
Know your yearly costs. You will need to pay Century 21 6% of all royalties on top of your yearly $25,000 franchise fee.
Step6
Receive initial and ongoing training via workshops and conventions held at Century 21's corporate headquarters.
Step7
Receive ongoing support in the way of newsletters, attending company meetings, a toll-free help phone line, Internet assistance and field operators. You also can participate in co-op advertising and receive national media exposure.
