FRANCHISE BUNDLE
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First Choice Business Brokers Franchise ProfileConsultant & Business Brokers > Mergers & Acquisitions |
How to Open a First Choice Business Brokers Franchise?
To begin your journey as a First Choice Business Brokers franchisee, you will need to complete an initial franchise application. After submitting your application, you will review the Franchise Disclosure Document (FDD), which provides vital information about the franchise's operations, fees, and requirements. Once approved, you’ll undergo a comprehensive training program that typically includes both virtual and in-person elements. This training equips you with the necessary skills to operate your brokerage effectively. After the training, you will need to secure an approved location, which must be within your designated Area of Operations, and finalize preparations to launch your business.
What Are the Initial Investment Costs for a First Choice Business Brokers Franchise?
The initial investment to start a First Choice Business Brokers franchise varies based on your signing date. If you sign before July 1, 2024, the total investment ranges from $69,500 to $99,500, including a franchise fee of $40,000 and a training/marketing fee of $12,500. After this date, the investment increases slightly, with total costs ranging from $71,000 to $101,350. It’s important to factor in additional costs for operating expenses, marketing, and working capital as you prepare to launch your franchise.
Why Consider a First Choice Business Brokers Franchise?
First Choice Business Brokers offers a unique opportunity for individuals interested in business brokerage. As a franchisee, you will earn commissions by assisting business owners in selling their businesses and facilitating buyers in their acquisitions. The support provided by First Choice, including training, marketing assistance, and established operational procedures, can significantly ease your entry into a competitive market. This franchise model appeals to those who possess strong interpersonal skills and a passion for entrepreneurship, making it a rewarding choice for the right candidate.
Is a First Choice Business Brokers Franchise Right for You?
Owning a First Choice Business Brokers franchise requires a commitment to understanding the intricacies of business transactions and a dedication to client service. The business brokerage industry has seen growth as more entrepreneurs seek assistance in buying and selling businesses. However, you must be prepared for the financial and operational responsibilities that come with running a franchise. Consider your financial readiness, ability to meet ongoing royalty and marketing fees, and your capability to operate within a competitive landscape. If you meet these criteria, a First Choice Business Brokers franchise could be a viable and profitable venture for you.
First Choice Business Brokers Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
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First Choice Business Brokers Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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Units | 2021 | 2022 | 2023 |
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Total Units | 46 | 61 | 89 |
Net Change YoY | 15 | 28 | |
Franchised Units | 39 | 56 | 84 |
Net Change YoY | 17 | 28 | |
Corporate Units | 7 | 5 | 5 |
Net Change YoY | -2 | 0 |
Company Background
First Choice Business Brokers, Inc. is a Nevada corporation established in 2005, specializing in business brokerage services. The franchise allows entrepreneurs to assist business owners in selling their businesses to potential buyers, negotiating transactions, and facilitating smooth transitions. First Choice operates under a proven business model, leveraging comprehensive training and support to ensure franchisees succeed in the competitive brokerage market.
Franchise Opportunity
The First Choice Business Brokers franchise offers a unique opportunity to enter the growing field of business brokerage. With an initial investment ranging from $69,500 to $99,500, franchisees can tap into a lucrative market by earning commissions from business sales and acquisitions. This franchise is ideal for those looking to build a rewarding career while benefiting from a recognized brand and a solid support system.
Corporate Structure
First Choice Business Brokers operates as a subsidiary of JLN Enterprises, LLC, and maintains its headquarters in Las Vegas, Nevada. The corporate structure is designed to provide franchisees with access to experienced professionals and resources that facilitate business operations, marketing strategies, and ongoing training. The franchise agreement outlines the rights and responsibilities of both the franchisor and franchisee.
Royalties
Franchisees are required to pay a monthly royalty fee of 10% of gross fees up to $850,000, reducing to 8% thereafter. Additionally, there is a minimum royalty fee of $300 per month starting from the 13th month of operations. Franchisees also contribute to a Brand Fund and pay a technology fee of $350 per month, along with $145 for each agent employed, ensuring they have access to essential tools and marketing resources.
Company Mission
The mission of First Choice Business Brokers is to empower business owners and buyers by providing expert guidance and support throughout the buying and selling process. The franchise is committed to maintaining high standards of professionalism and integrity while fostering a culture of excellence in the business brokerage industry. This dedication helps franchisees build strong relationships and achieve successful outcomes for their clients.
Brand Story
First Choice Business Brokers began its journey to establish itself as a trusted name in business brokerage in 2005. The franchise has quickly grown, leveraging the expertise of its founders and their commitment to providing top-notch service. As the demand for business sales and acquisitions continues to rise, First Choice remains dedicated to adapting its strategies and training to meet the evolving needs of its franchisees and clients, ensuring ongoing success in the marketplace.
Frequently Asked Questions
The total investment to open a First Choice franchise ranges from $69,500 to $99,500 if you sign before July 1, 2024. After this date, the range increases slightly to between $71,000 and $101,350, which includes the initial franchise fee and training/marketing fees.