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- 2023 Franchise 500 Rank
#231 Ranked #345 last year
- Initial investment
$33K - $209K
- Units as of 2023
104 511.8% over 3 years
In 2012, Rhyan Finch founded 1st Class Real Estate with a dream to revolutionize the world of real estate. The company began with just a few agents and has since grown to over 50 locations across the United States.
1st Class Real Estate prides itself on providing systems, procedures, software, and staff for virtually every real estate process imaginable. These processes may include lead generation, closing coordination, agent training, sales and marketing, and so much more. The company started franchising in 2018 and has since grown in impressive terms.
Why You May Want To Start a 1st Class Real Estate Franchise
Real estate is a competitive niche in the business world, so if you want to invest in it, you may want to buy into a reputable franchise. 1st Class Real Estate claims to be a worthy investment thanks to its perceived success in its short time franchising. Franchisees are taught what the franchise calls a “proven and fully operational business in a box.”
A 1st Class Real Estate franchisee should be a broker or agent itching to grow their business. You should also be keen to develop and mentor a team of brokers and agents. If these traits describe you, then you may be the right fit for this franchise.
Opening a 1st Class Real Estate franchise may have a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a 1st Class Real Estate Franchise a Good Choice?
1st Class Real Estate franchise prides itself on three key components that they believe make it a unique business. First, it has a turn-key solution for every franchisee by offering them access to tried and tested working systems and software to scale their business.
Second, it offers franchisees leads as well as tools to help generate business.
And finally, the back-end support offered may be rivaled by no other.
To be part of the 1st Class Real Estate franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include renewal fees. Franchisees will also need to meet the company’s set liquid capital requirements.
How To Open a 1st Class Real Estate Franchise
As you decide if opening a 1st Class Real Estate franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a 1st Class Real Estate franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the 1st Class Real Estate franchising team questions.
About 1st Class Real Estate
- Services (Other)
- Related Categories
- Real Estate
- Rhyan Finch, Owner/CEO
- Corporate Address
1060 Laskin Rd., #14B
Virginia Beach, VA 23451
- Franchising Since
- 2018 (5 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees throughout the US.
- # of Units
- 104 (as of 2023)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a 1st Class Real Estate franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $32,720 - $208,775
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Cash Requirement
- $950 - $25,950
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Term of Agreement
- 5 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- 1st Class Real Estate offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
- Third Party Financing
- 1st Class Real Estate has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- Classroom Training
- 18 hours
- Ongoing Support
NewsletterMeetings & ConventionsGrand OpeningSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like 1st Class Real Estate? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where 1st Class Real Estate landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where 1st Class Real Estate ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse franchises that are similar to 1st Class Real Estate.
HomeVestors of America
Realty One Group
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