Founded in 1973 in Denver, its network has grown continuously. Currently, we are present in more than 110 countries with more than 140,000 associates spread over more than 8,900 offices. In Spain we have 2,500 agents. It’s a very American business model. In each office the people who work are self-employed associates. The owner, who we know as a broker, tries to have the best possible agents. In fact, REMAX is a service company for real estate agents.
What should someone from Girona who wants to engage in the real estate business with REMAX have?
There are two preferred profiles. It can be a real estate agent, someone who already has a real estate agent business and wants to grow through being a franchisee. Or someone who had experience in the industry. Those who have an agency will have to invest less than those who start from scratch, who will have to pay the rent of the premises, buy furniture, pay for the adaptation, etc. Thus, the investment is between 40,000 and 150,000 euros, depending on where you start. If one makes a conversion, the money he needs is the circulating money because the investment part will not have to do it.
How does Master Franchise support its franchisees?
There are two things that are very important. One is the brand. Obviously, it’s not just the brand, but the brand is critical. Anyone can buy hamburgers, but McDonald’s can only be bought from McDonald’s. The second important point in REMAX is the network. In a network it is possible to do business between franchisees. It’s easier to do business between franchises. REMAX works very much from the bottom up, it is a large cooperative of real estate professionals and it is where most of the ideas come from. The real estate market is not mechanical, and that is why we give freedom to the franchisee to be able to create a part of their work. Apart from the headquarters we provide training, support, we have consultancy, we help to improve, we have a department of reputation, conventions, etc.
How long does it take to recover the investment?
The return depends a lot on how the business develops. But we estimate that it recovers in two or three years.