Commission Express
Real estate commission factoringBackground
Founded: 1992 Franchising since: 1996
John L Stedman and Joseph M. Giovannelli founded Commission Express, based in Fairfax, Virginia, in 1992.
Franchisor is a privately-held company with 4 employee(s); 3 employee(s) in franchise department.
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Exclusive territories available.
Territory size: Less than 750/more than 1,000 real estate sales per month
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.
|
8306 Professional Hill Dr. Fairfax, Virginia 22031 |
Phone: (888)560-5501/ (703)560-5500 |
Franchisor is a privately-held company with 4 employee(s); 3 employee(s) in franchise department.
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2009 | 51 | 0 | 0 | 1 |
| 2008 | 56 | 0 | 0 | 1 |
| 2007 | 64 | 0 | 0 | 1 |
| 2006 | 69 | 0 | 0 | 1 |
| 2005 | 62 | 0 | 0 | 1 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Exclusive territories available.
Territory size: Less than 750/more than 1,000 real estate sales per month
Costs and Fees
|
Total investment: $94.3K-213.5K Franchise fee: $20K-80K |
Ongoing royalty fee: 9% Term of agreement: 10 years, renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | No |
| Startup Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Accounts Receivable | No | No |
| Payroll | No | No |
Qualifications
Cash liquidity requirement: $93K-213K
Business Experience:
- General business experience
- Real estate & law background
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)
Training and Support
Training
Ongoing Support
Marketing Support
Other marketing support
- 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