Commission Express
At a Glance
Products & Services: Real estate commission factoring
Number of Locations: 35
Total Investment: $112.8K - 291.5K
Founded: 1992
Began Franchising: 1996
Private Owned
About Commission Express
John L Stedman and Joseph M. Giovannelli founded Commission Express, based in Fairfax, Virginia, in 1992.With most real estate transactions, an agent waits between 30 and 90 days to receive his or her commission. In the meantime, the agent still has to cover the costs of running an office and paying employees. Commission Express franchisees essentially offer agents cash advances by purchasing an agent's outstanding commissions at a discount. When the home purchase is completed and the commission is received, Commission Express withholds between 8 and 14 percent in fees. Franchisees provide their own capital to purchase the commissions.
Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 34 | 0 | 0 | 1 |
| 2010 | 40 | 0 | 0 | 1 |
| 2009 | 51 | 0 | 0 | 1 |
| 2008 | 56 | 0 | 0 | 1 |
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Startup Costs, Ongoing Fees and Financing
Total Investment: $112,800 - $291,500
Franchise Fee: $10,000 - $40,000
Ongoing Royalty Fee: 4.5-9%
Term of Franchise Agreement: 10 years, renewable
Franchise Fee: $10,000 - $40,000
Ongoing Royalty Fee: 4.5-9%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Liquid Cash Available: $93,000 - $213,000
Operations
Franchise can be run from home. 15% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
Training: Available at headquarters: 1 week. At franchisee's location: 1 week. Annual conference : 3 days.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Internet, Field operations/evaluations, Purchasing cooperatives,
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Other marketing support: Trade shows
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