Thursday, October 4, 2012

Keller Williams Realty - Franchise Review

Gary Keller and Joe Williams established the "Keller Williams Realty" in the year 1983. Gary Keller and Joe Williams used to work in a real estate company in Austin, Texas. It was the biggest real estate company at that time. It was at this place that both the person came together to form a long lasting friendship. Both of them believed in the idea that the company should work for the employee. This idea led to the formation of "Keller Williams Realty" in the subsequent years.

The "Keller Williams Realty" And Their Franchisees

The company started franchising in the year 1987, four years after their establishment. The company is head quartered at Austin, Texas. They have the policy of encouraging agents to recruit others through the profit sharing. Currently, the company has one hundred and seventy five employees. There are another fifteen employees working at the franchise department. According to the 2009 reports, the company has six hundred and seventy five franchises throughout the length and breadth of United States. The number of franchises in Canada is thirteen. Presently the company is seeking franchisees in the Unites States and Canada. As a gesture to social responsibility; they are attached with habitat for humanity and food bank drives.

The Investment Amount To Become A Franchise

The net investment for becoming a "Keller Williams Realty" franchise; varies between $ 1, 74,647 to $ 5, and 57,495. The charges are a franchise fee and ongoing royalty fee. The franchise fee is twenty five thousand dollar and the ongoing royalty fee is a flat six percent rate. The terms of agreement is valid for five years and is renewable. The franchise fee, start up cost, equipment cost, inventory cost, receivable accounts and the payroll cost is not financed by the "Keller Williams Realty".

The Desired Qualifications And Operations Of A Franchise

The company doesn't have any mandatory net worth requirement for opening a franchise. However, they do have $ 1, 50,000 cash liquidity requirement. They also expect the franchise owner to have industry and general business experience. Thirty percent of the franchisees own more than a single unit. Three to four employees is required to run a franchised unit. "Keller Williams Realty" allows absentee ownership of the franchise. Fifteen percent of current franchise owners are absentee.

The Extended Training And Support

The company provides ongoing training courses at their head quarter and franchise location, throughout the year. The ongoing support is extended to all the franchisees, through news letter, meetings, and internet and field operations. The national media advertisement and exposures provide substantial marketing support to the franchisees. In-house marketing department is another great support for the "Keller Williams Realty" franchise.

The "Keller Williams Realty" is a well known name in its business domain. The franchise friendly attitude of "Keller Williams Realty", combined with the great sales support makes it an attractive option for taking up the franchise.

1 comment:

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