US franchising firm RE/MAX is today launching a new, cheaper way for UK agents to join the network and start running their own businesses.
Recruitment events are being held today and tomorrow, and will focus on the new offering called Into Franchise.
It will cost £5,000 instead of the normal £20,000 for a full franchise.
Being trialled in the Notting Hill office, it will be rolled out across London if it proves itself.
Peggy Su, owner of London RE/MAX, said the new franchise model is geared towards entrepreneurial-minded people who want more independence – but want support around them and lower cost of entry.
Owners will have the opportunity to earn commission up to 80% with an unlimited number of transactions and earning potential.
The Intro Franchise model will also provide the opportunity to grow a team of up to four property Associates.
She stressed that the new model is not an online agency: “We will expect franchisees to come into office. This is a traditional model – we are all about providing service and value.
“Franchise owners will be able to hot-desk, so renting an office space will not be an additional cost that needs to be considered.
“For a reasonable monthly cost per person per month, we will also cover aspects such as central support, IT support, marketing materials and ongoing training.”
She said: “Our agency model is not an experiment; it is not something we are trying for the first time – it is a proven model that has worked in over 100 countries around the world.
“Over 20,000 agents across Europe alone are proof that the concept works and works well.”
There are currently 58 RE/MAX franchisees across the UK, with 26 in London.
Comments (9)
Does anyone remember those days when the second a James Caaaaaaaaaaaaaant article hit our screens for that Look4aproperty debacle, or some other new wonder-widget burst forth?
You could guarantee that a flurry of never seen before: never to be seen again posters chirped up telling us all that this offering “weally weeeally is” the new Hovis.
Some things never change, it seems…
I have been both an agent in a traditional corporate agency model and a RE/MAX agent. The traditional model did not give me the opportunity to develop myself but was rather about promoting that office. However, with the RE/MAX model, it focused on developing me both professionally and personally and gave me a chance to reap the benefits of all the work I put in. I like the fact that if I want to work more, I have unlimited earning potential from my efforts. It’s amazing that when I make £100k in commissions, I get to keep £80k.
Yeah i get the reason about being your own boss, but why do it as a franchise? especially one with a set up fee!
They make money off you for advertising, using their software, monthly fee…. Why not set up in your own name?
Remax sure as heck do not have a name in the UK either.
Smile Please, of course you can do it yourself, I did for years but when I joined RE/MAX I realised the power of an International brand. The RE/MAX referral system has helped me enormously. I had a referral from an office in Europe for the purchase of a flat in central London at £2.5m which ended up being two purchases totalling £15.4m and after the referral fee to the RE/MAX agent in Europe I still received approx. £160,000 before tax. This is just one referral I have received and they keep coming. I had one yesterday from Canada, not quite so “juicy” but no other agency will get them. The referral system really works well and I am sure I couldn’t have done this well if I stayed on my own. There are many other advantages and I have since been smiling because I joined.
Why would anybody want to spend 5k on a franchise?
Most franchises are giving away the franchises these days.
What’s the reasonable monthly cost?
Hi, Thanks for asking. The monthly cost will be £150 plus VAT for the Franchise Owner. If you would like to know more, email me at peggy.su@remax.co.uk
How many relaunches has this brand tried over the years!
The Intro Franchise model is not a relaunch of the brand; it is an additional option to the existing offering that RE/MAX provides. If you would like to learn more, let me know and we can chat over a cup of tea.