- 2023 Franchise 500 Rank
#110 Ranked #92 last year
- Initial investment
$182K - $336K
- Units as of 2022
1,091 6.3% over 3 years
Keller Williams is a real estate agency established in both the U.S. and internationally. When Gary Keller and Joe Williams started the company in 1983, their main aim was to create a company that individuals will want to join, and no one will want to leave. Most of their business is owed to their unique business model that focuses on turning brokers into shareholders.
Four years after starting the company, the brand opened to the public for franchising. They have about 800 franchise offices in the United States and more than 250 additional locations internationally.
Why You May Want to Start a Keller Williams Franchise?
Real estate is one of the more well-known industries, and what better way to embark on the journey than owning a Keller Williams franchise? Every time an agent recruits another agent, they might be able to receive a share of the revenue their recruit makes. It gets better—when the recruit finds another agent, they may receive a percentage of the profits, and the cycle continues till about the seventh agent.
Many times in the past few decades, Keller Williams has been ranked in Entrepreneur’s Franchise 500. This ranking is based on an evaluation of more than 150 data points consisting of areas in costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
Thanks to their profit-sharing business model, your real estate franchise may not only attract but also retain agents in your territory. You should be prepared to provide capital, a joining fee, and certain assets at hand to qualify to be the next Keller Williams franchisee.
What Might Make a Keller Williams Franchise a Good Choice?
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. You may need to speak to a financial planner and a franchise attorney, as well.
To start a Keller Williams franchise, 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 include advertising, royalty, and potential renewal fees. This investment typically goes towards construction, training fees, permits, licenses, software, and marketing for your location.
Franchisees will also need to meet the company's set liquid capital requirements.
How Do You Open a Keller Williams Franchise?
To join the Keller Williams community, you may start by submitting a franchise request form. After that, you may hear from a Keller Williams franchise brand representative. As conversations continue, you may be approved to learn more about the franchise opportunity.
If cleared, you may proceed and come up with a fee structure, submit a formal application, and provide your credit and finances. If they check out, you generally sign a master license agreement and letter of intent. The whole process takes about at least a few months to complete. You might then attend a training camp for multiple weeks. Finally, you will be ready to launch as the newest Keller Williams franchisee.
About Keller Williams
- Services (Other)
- Related Categories
- Real Estate
- Parent Company
- Gary Keller, Chairman
- Corporate Address
1221 S. MoPac Expwy., #400
Austin, TX 78746
- Franchising Since
- 1987 (2023-1987 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees worldwide.
This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, 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
- # of Units
- 1,091 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Keller Williams 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
- $182,430 - $335,697
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
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Royalty Fee
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
- 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?
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 40 hours
- Classroom Training
- 40 hours
- Ongoing Support
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Ad TemplatesSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
- 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.
- # of employees required to run
- 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 Keller Williams? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Keller Williams landed on this year's Franchise 500 Ranking versus previous years.
Curious to know where Keller Williams ranked on other franchise lists? Find out below.
Ranked #110 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #74 in 2023
If you're interested in an opportunity with international appeal, start your search with our ranking of the top franchises seeking to expand outside the U.S.
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