29 Oct Franchise Business Plan – Century 21
Founded in 1979, Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp., a global provider of real estate services, including franchising, brokerage and relocation, and title services. Century 21 offers brand marks, communications, marketing, and innovative technology solutions that enable its franchisees and their independent agents to attract and engage prospects. The company has over 8,000 independently owned and operated franchise brokers across 80 countries and territories.
All franchise employees including brokers, managers, and affiliated sales associates need to take part in the Century 21 training programs at the Century 21 University. The franchisor offers a wide range of learning options including a video library, live-classroom, social network groups, self-paced courses, hands-on technology labs, webinars, certifications with the National Association of REALTORS®, broker and sales management courses, as well as continuing education accredited courses. Century 21 offers a 12-month, phased transition process for owners, management, and agents allowing them to grasp all the benefits of the franchise. Joorney experts are experienced in developing business plans that contain long-term employee plans that match specific employees’ knowledge, skills, experience, and training to their designated roles.
Century 21 franchisees need to develop a solid business plan to estimate potential revenues and expenses. The initial investment for establishing a Century 21 franchise ranges from $106,200 to $451,350 depending mostly on the office location. The initial investment covers a wide range of expenses such as lease, legal expenses, and insurance. Century 21 franchisees are also obliged to pay ongoing fees such as the royalty fee (6% of gross revenue) and property management fees (1.5% of gross revenue from property management services). Joorney Business Plans has experience in developing long-term financial projections for Century 21 franchises across the U.S. taking into account the specifics of the franchise agreement.
Century 21 invests strongly in both traditional and digital marketing strategies. It uses a new C21® Seal that projects a modern brand view. Century 21 marketing strategies include listings exposure, the website, search engine and display advertising, social media, the Zap® platform, business assistance, CRM system, repeat and referral business, listing activity, and public relations. Their Zap® platform is an end-to-end technology platform that connects consumers, agents, and brokers and streamlines the real estate buying process–from early search and consideration through conversion and close. Joorney Business Plan writers develop detailed marketing and advertising strategies that are in line with the Century 21 franchise agreement.
By becoming a part of the growing Century 21 network, you will benefit from global recognition that translates into a wider referral network and geographic footprint as well as strong local visibility. Their brand ambassadors also assist with your business goals and operations. They help you achieve recruiting, market share, and revenue growth goals as well as successfully implement Century 21 systems, tools, and learning programs.