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- 2022 Franchise 500 Rank
#282 Ranked #337 last year
- Initial investment
$63K - $326K
- Units as of 2021
490 2.3% over 3 years
Here’s what you need to know if you’re interested in opening a Weichert franchise.
Weichert offers real estate listings for residential and commercial properties. Weichert streamlines the delivery of mortgages, home, and title insurance for clients.
Weichert is for self-driven brokers not afraid to work hard and for those who can follow a carefully detailed and supported plan of action. If you have basic management skills and discipline, your path to a new level of success may be mapped out for you.
Why You May Want to Start a Weichert Franchise
As a franchisee, you may have access to experts and world-class tools. You may have the ability to consult with Weichert management, regional real estate experts, and hundreds of your peers around the country. As a franchisee, you may also be given leads so you can spend less time finding them and more time closing. Franchisees may also benefit from a proven real estate system and strong brand reputation and be able to focus on growing and managing your agency.
Weichert might help you reduce your expenses while at the same time giving you access to online tools you might not be able to afford on your own. This means you will likely always have suitable tools, training, and marketing techniques, giving your business the possibility to stand apart from the competition.
What Might Make a Weichert Franchise a Good Choice?
To be part of the Weichert 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, fees may include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth requirements. The amount of money you can make from a franchise location may depend on a few factors, such as labor costs, commercial lease rates, and franchise costs.
The Weichert franchise support network includes corporate real estate experts, trainers, technology experts, and personal support that keeps you moving forward through the ups and downs of the real estate market. Weichert has marketing support and management systems in place that are frequently available to you when you join as a franchisee. Their system can work for your real estate business in efficient ways. If you want to be in business for the long haul, the Weichert franchise system may allow you to do just that.
How To Open a Weichert Franchise
The first step to open a Weichert franchise is to submit an inquiry form. You also may want to speak to an attorney or financial advisor before moving forward with the process in order to ensure that you are financially sound enough to open a Weichert franchise.
Before making any financial commitment or signing an agreement, you may want to perform your due diligence and establish if this is the right opportunity for you. Speak to existing franchisees and ask questions directed to the Weichert team. Also, make sure to research your local area to see if a Weichert franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
After approval, you may be able to help your community sell properties and grow your firm.
- Franchising Since
- 2000 (22 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # of Units
- 490 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Weichert 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
- $62,500 - $326,200
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.
- 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.
- 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
- 10 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.
- Classroom Training
- 24 hours
- Additional Training
- Annual conference; quarterly workshops (local)
- Ongoing Support
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingMarketing Planning & SupportSocial 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.
- # 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.
Franchise 500 Ranking History
Compare where Weichert landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Weichert ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Weichert.
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