10 May 2024

One of the routes to success is owning your own business. You could start a business from scratch, or you could invest in a franchise with a proven business model for success with an established brand recognition – like RE/MAX. It comes with great advantages. All RE/MAX franchises are independently owned and operated and the cost to purchase a franchise is one of the most competitive in the market. RE/MAX franchises are all backed by years of experience and support from industry experts; why wouldn’t you want to work with the global leader in real estate?

Now that you know why RE/MAX should be your first choice when looking to invest in a franchise business, let’s walk you through what your next steps should be to own your own RE/MAX franchise…

Step 1: Work out your finances

Most things in business begin – and end with the numbers. The answers to these questions are probably more important than the questions themselves:

  • Do you have the capital to invest in the business? If so, how much? If you have some money set aside, is there enough money for the start up costs apart from the franchise fees? It is also wise to have additional emergency savings in place before you purchase a franchise.
  • If you don’t have enough capital, will you raise a loan to buy the franchise? If so, from whom? Remember that if you loan the funds, even if it is a low-interest or interest-free loan through friends and family, you’ll have to factor in the repayments into your monthly overheads.
  • Will you own and operate the franchise yourself, or will you employ a franchise manager? Remember that if you decide not to run your agency yourself, and employ a franchise manager, this will be a cost that you have to add to your overheads.

Word to the wise: no new business is instantly profitable. Can you live with the reality that it will take time before you (and/or your investors) see a return on your investment?

If you’re comfortable with the – brutally honest – answers to those questions, and you believe that RE/MAX – and you – are a good fit for each other, it’s time to move to the next step.

Step 2: Get in touch with RE/MAX

Once you have worked through your finances and know how much money you have available, it’s time to get in touch with RE/MAX. Visit our Invest in a Franchise page, fill in your details and while you’re waiting for one of our franchise sales team to get back to you, prepare some questions for them, for example —

  • What areas are available to open a new RE/MAX office?
  • Based on experience, how long is it likely to take for you to see a return on your investment?
  • How much does a RE/MAX franchise owner make?
  • How much will it cost, i.e. (a) what is the capital investment and (b) what are the ongoing franchise fees?

The fees as well as the earning potential for each franchise vary based on the size of the market that the office will service. This will be discussed with you, along with the answers to all the other questions, once our franchise sales team reaches out to you. The initial conversation is an obligation free chat that is designed to help you make an informed decision about becoming a franchisee. During this process, it is important to note that some of the information is more confidential than other parts of the discussion. The further into the application process you get, the more details will be shared with you.

Step 3: The contract – read and understand the small print

When you reach the contracting stage, you have decided that you and RE/MAX are a good fit. At this point, you negotiate and sign your franchise agreement. Here, it’s important to read everything and understand the small print. When you do this, it often helps to read it through with somebody whom you trust and who has a helpful, critical eye. Only sign the contract when you’re sure you know what you’re signing up for.

Step 4: Making it happen – launching your RE/MAX franchise

Once your franchise agreement is in place, the hard work starts – getting ready to launch and operating your RE/MAX office. To help you, we assign a Business Development Consultant (BDC) to work with you. Before “going public” you’ll need to —

  • Find suitable staff for your office (assuming you’re going to employ either a franchise manager or administrator)
  • Rent premises for your office in your franchise area (your BDC will assist you here)
  • Participate in a host of onboarding training for franchisees – more about this below
  • Set the date for your official opening
  • Start marketing your RE/MAX real estate office (our Marketing Team will reach out to you to help with your office branding and other marketing resources to help you get started)

Step 5: RE/MAX franchise onboarding, training and ongoing support

We believe that you should be in business for yourself, but not by yourself. Our training is designed to equip you with the tools you need for setting up and managing a profitable real estate franchise. We have an extensive onboarding program to help get you set up and using all our bespoke RE/MAX tech and tools, such as our custom CRM, LMS, Design Hub, Resource Centre, and billing system. You’ll also be invited to attend a 3-day in-person Franchise Management Training course that will help equip you with all the knowledge you need to run a successful office.

After all the onboarding training is complete, you will also gain access to all RE/MAX training, which includes a host of free local training available via E-Learning on the RE/MAX Hub (our intranet portal), as well as a host of international training available via our international intranet portal called MAX Center. Like all franchise owners and agents, you’ll also have exclusive access to the Buffini suite of lead-generating courses and programs which are world renowned for helping real estate businesses achieve success.

Once everything’s in place, your Business Development Consultant regularly checks in to support you as you work towards achieving your business goals.

Step 6: What are you waiting for???

Owning a RE/MAX franchise offers a pathway to success in the dynamic real estate industry. With a proven business model, comprehensive support systems, and a trusted global brand, aspiring franchisees have the opportunity for their business ventures to thrive. By following the steps outlined above, you can embark on a rewarding journey towards business ownership, financial independence, and professional fulfilment with RE/MAX. With dedication, hard work, and a commitment to excellence, the dream of owning a thriving real estate franchise in Southern Africa can become a reality.

If you’re interested in starting or buying your own RE/MAX franchise, please get in touch with us by completing the form that is available on our website.

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