- 2024 Franchise 500 Rank
-
#304 Ranked #231 last year
- Initial investment
-
$32K - $207K
- Units as of 2023
-
105 517.6% over 3 years
In 2012, Rhyan Finch founded 1st Class Real Estate with a dream to revolutionize the world of real estate. The company began with just a few agents and has since grown to over 50 locations across the United States.
1st Class Real Estate prides itself on providing systems, procedures, software, and staff for virtually every real estate process imaginable. These processes may include lead generation, closing coordination, agent training, sales and marketing, and so much more. The company started franchising in 2018 and has since grown in impressive terms.
Why You May Want To Start a 1st Class Real Estate Franchise
Real estate is a competitive niche in the business world, so if you want to invest in it, you may want to buy into a reputable franchise. 1st Class Real Estate claims to be a worthy investment thanks to its perceived success in its short time franchising. Franchisees are taught what the franchise calls a “proven and fully operational business in a box.”
A 1st Class Real Estate franchisee should be a broker or agent itching to grow their business. You should also be keen to develop and mentor a team of brokers and agents. If these traits describe you, then you may be the right fit for this franchise.
Opening a 1st Class Real Estate franchise may have a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a 1st Class Real Estate Franchise a Good Choice?
1st Class Real Estate franchise prides itself on three key components that they believe make it a unique business. First, it has a turn-key solution for every franchisee by offering them access to tried and tested working systems and software to scale their business.
Second, it offers franchisees leads as well as tools to help generate business.
And finally, the back-end support offered may be rivaled by no other.
To be part of the 1st Class Real Estate franchise 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 renewal fees. Franchisees will also need to meet the company’s set liquid capital requirements.
How To Open a 1st Class Real Estate Franchise
As you decide if opening a 1st Class Real Estate franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a 1st Class Real Estate franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
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. As part of your due diligence, you may want to speak to existing franchisees and ask the 1st Class Real Estate franchising team questions.
Company Overview
About 1st Class Real Estate
| Industry | Services (Other) |
|---|---|
| Related Categories | Real Estate |
| Founded | 2012 |
| Leadership | Rhyan Finch, Owner/CEO |
| Corporate Address |
1060 Laskin Rd., #14B Virginia Beach, VA 23451 |
| Social | Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest |
Business Overview
| Franchising Since | 2018 (6 years) |
|---|---|
| # of employees at HQ | 13 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 105 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a 1st Class 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
|
$25,000 |
|---|---|
|
Initial Investment
|
$31,645 - $207,125 |
|
Cash Requirement
|
$950 - $25,950 |
|
Term of Agreement
|
5 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | 1st Class Real Estate offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|---|
| Third Party Financing | 1st Class Real Estate has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| Classroom Training | 18 hours |
|---|---|
| Ongoing Support |
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
Yes |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where 1st Class Real Estate landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where 1st Class Real Estate ranked on other franchise lists? Find out below.
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