- 2023 Franchise 500 Rank
#237 Ranked #388 last year
- Initial investment
$27K - $435K
- Units as of 2023
2,386 4.3% over 3 years
Founded in 1971 by Jim Jackson, ERA Real Estate entered the real estate market with a vision to transform it with the latest technology. Believing they are pioneers of tech in real estate, ERA Real Estate maximized the utility of the internet to optimize the quality of services for sales associates and consumers.
Customers may appreciate ERA Real Estate for its global connections that blend collaboration and partnership to efficiently make the purchase and selling decisions.
ERA Real Estate has been franchising since 1972 and has over 2,000 franchises all around the world.
Why You May Want to Start an ERA Real Estate Franchise
Over the past several decades, ERA Real Estate has provided buyers and sellers with professional assistance to guide their real estate decisions. With services such as custom home searches, home value estimates, and a modern real estate app, ERA Real Estate attempts to give customers power in their hands, any time, anywhere.
If you have a passion for the real estate industry and love helping individuals find places they can call home, then opening an ERA Real Estate franchise could be a good decision for you. Franchisees with ERA Real Estate are expected to take advantage of the brand's global connections to create real estate solutions that match customer needs.
ERA Real Estate believes that customers need all possible information to make the best decisions. It strives to put the customer's needs first, aiming to improve the quality of life through strategic and informed purchases.
What Might Make an ERA Real Estate Franchise a Good Choice?
ERA Real Estate is seeking to help individuals realize their independence and expand their influence in the real estate market. Franchisees will be expected to market listings, communicate with international clients, and close transactions. To be an ERA Real Estate professional, experience may be a good opportunity to succeed in the real estate industry.
To be part of the ERA Real Estate 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 advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open an ERA Real Estate Franchise
Opening an ERA Real Estate franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.
Before making any financial commitment or signing an agreement with ERA Real Estate, 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 ERA Real Estate franchising team questions.
If awarded a franchise, franchisees may receive support from the ERA Real Estate brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, and research. After their units have opened, franchisees may also receive hands-on training and continued support.
About ERA Real Estate
|Franchising Since||1972 (51 years)|
|# of employees at HQ||36|
This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
|# of Units||2,386 (as of 2023)|
Information for Franchisees
Here's what you need to know if you're interested in opening a ERA 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.
|$0 - $25,000|
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.
|$27,350 - $435,050|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|Franchise fee reduced or waived; additional business benefits|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
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?||No|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|In-House Financing||ERA Real Estate offers in-house financing to cover the following: startup costs|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
|Classroom Training||25 hours|
Meetings & Conventions
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
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.
Franchise 500 Ranking History
Compare where ERA Real Estate landed on this year's Franchise 500 Ranking versus previous years.
Curious to know where ERA 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 ERA Real Estate.
- 3D tours, aerial videos, photography, augmented reality, and other services for real estate agents
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