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Are you ready to own your own franchise?

by Jason Porterfield

While franchisors can offer agents an attractive entry point into ownership, not everyone is prepared for the responsibility. Agents are supposed to demonstrate planning and leadership abilities that will allow them to be successful as franchise owners. There are also significant expenses, including franchise fees, salaries and operating expenses. And an agent has to be a good fit for the company.

“We look for brokers who align with our culture,” says Sandesh Bilgi, Director of Membership Development for Better Homes and Gardens Real Estate. “Those who want to pursue growth for their firm and deliver even better results for their agents are good candidates to work with BHGRE.

“There are very successful unaffiliated brokerages that partner with us to expand their geographical market, others who want to expand the services for their agents, and in small markets, a practicing broker who simply needs a platform to deliver training tools and marketing services to their agents.”

BHGRE has 290 franchise offices in the United States and requires a $35,000 franchise fee, as well as an ongoing royalty fee of 6 percent for each franchise’s gross closed income, according to Realtor magazine’s 2015 Residential Franchise Report. For that expense, the agent receives access to a full platform of lifestyle marketing resources, training at several different levels, and the instant brand recognition that comes with the Better Homes and Gardens name.

“We engage senior brokers who want to increase the value of their firm as they consider a transition,” Bilgi says. “We support young brokerages that are innovative about growth, and help others firms consolidate and create a new entity. Fundamentally, we help the affiliated broker create a better experience for their agents that results in increased production and profitability for both the affiliated agent and broker.”

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