Are you considering investing in a real estate franchise? Are you a real estate enthusiast searching for a lucrative business opportunity with a renowned agency? Have you recently developed an interest in a real estate agency that offers the potential for a healthy return on your investment?
We have some exciting news for you. This comprehensive piece can help you gain a clear overview on America’s popular real estate firm that not only possess a great presence in the home country but also enjoys a robust presence in the international market.
- Brand: ERA Real Estate
- Founded: 1971
- Key People: Jim Jackson
- Industry: Real Estate
- No. of outlet: 2300+
- Area served: United States
- Franchise Fee: $25,000
- Royalty Fee: 6%
- Model: Franchise
- Initial Investment: $27,350 – $435,050
Table of Contents
Overview of Era Real Estate Franchise
Established in 1971 by Jim Jackson in Madison, Wisconsin, USA, Era Real Estate (also known as Electronic Realty Associates) has emerged as one of America’s leading and popular real estate agencies. It has grown from a single location to over 2300+ locations worldwide.
Recognizing the immense potential in the real estate industry, ERA began offering franchises in 1972. The chain’s rapid growth from its modest beginnings in Madison to an amazing network of over 2300 locations globally was fueled by the model’s immediate capture of the interest of real estate aficionados throughout the world.
ERA Real Estate achieved a tremendous feat in the real estate sector thanks to its dedication to customer satisfaction and its outstanding training support.
The chain was conceptualized on a single vision to create a reliable and comprehensive real estate solution platform for the aspiring buyers, sellers, or investors that may not only provide an extended support system but should also elevate the overall other real estate systems and processes.
At present, The ERA Real Stores boasts a strong global footprint across 33+ countries, spanning 43 states(US). These locations in United States are particularly 13,490 US-based patrons, operating from over 2400+ offices.
While you might see a significant number of US-based employee, but they haven’t restricted it to this. In addition to all this, ERA also employs over 40,000 agents that takes pride to provide dependable, credible, and affordable services to its millions of customers.
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Key Facts on Era Real Estate
| Sr No. | Type | Public |
|---|---|---|
| 1 | Trade Name | ERA Real Estate |
| 2 | Industry | Real Estate |
| 3 | Founded | 1971 |
| 4 | Founders | Jim Jackson |
| 5 | Headquarters | Madison, Wisconsin, USA |
| 6 | Number of locations | Over 2300+ |
| 7 | Area served | United states |
| 8 | Model | Franchise |
| 9 | Services offered | Buy and Sell of Real Estate |
| 10 | Parent Company | Anywhere Real Estate Inc |
| 11 | Revenue | US$7.98 billion (2021) for Parent chain |
| 12 | Website | https://www.era.com/ |
Benefits of owning an ERA Real Estate Franchise?
- Reputed Brand Image:
- Over the years, ERA has positioned itself as a prominent leader in the Real estate industry thanks to its innovative approach, extensive market knowledge, and dedication to meeting and solving the customer’s needs.
- Flexible Branding & Marketing:
- As a franchisee, you’ll have access to tools, technology, and ideas. Alongside this, the franchisor will provide extensive support in utilizing these systems and will guide you in their respective business domains.
- Global presence:
- ERA hasn’t only expanded its reach in the United states but also spread its arm to other countries such as Albania, Bahamas, Japan, Turkey, Thailand and more, ultimately offering them edge over its competitors like Keyglee.
- Training and support:
- Interested franchise prospects can greatly benefit from ERA proven business model and successful track record in operating its outlets.
- Additionally, the ERA team offers an extensive training program that provides valuable insights into the company’s operations and day-to-day tasks.
- Interested franchise prospects can greatly benefit from ERA proven business model and successful track record in operating its outlets.
- Marketing and advertising Support:
- As an ERA outlet owner, you will have the advantage of leveraging the brand’s effective marketing campaigns, social media promotions, and digital advertising strategies to generate awareness and attract customers.
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How much does ERA Real Estate Franchise Cost?
The cost for starting an ERA Real Estate location may depend on several factors, such as, outlet’s geographical location, available floor area, and investment required to furnish the space. Additionally, the initial investment for ERA Real Estate chain includes the franchise fee, equipment costs, leasehold improvements, and working capital.
Nevertheless, to get started with owning an ERA Real Estate franchise, potential franchisees should be prepared to make a minimum investment ranging from $27,350 – $435,050.
How much is ERA Real Estate Franchise Fee?
The franchise fee for ERA Real Estate is $0 – $25,000. Furthermore, Interested candidates should also meet the minimum financial requirement of at least a Net Worth of $150,000 and at least $75,000 in liquid assets.
Additional Cost for ERA Real Estate
Operating and sustaining an ERA Real Estate location involves adhering to the franchise’s standards and incurring additional costs such as royalty fees, advertisement fees, maintenance fees, and other necessary investments.
The ERA Real Estate may charge a royalty fee of 6% and ad royalty fee of 0.5% to 1.5%, which will be calculated on monthly gross sales. These fees contribute to the ongoing support and promotion of the ERA Real Estate chain.
| Type of Fee | Cost and its details |
|---|---|
| Franchise Fee | $0 – $25,000 |
| Initial Opening Support Fee | ~$5,000 |
| Royalty Fee | 6% |
| Ad Royalty Fee | 1% |
| Net Worth | $150,000 |
| Capital Required | $75,000 |
| Agreement Period | 10 Years |
| Total Initial Investment | $27,350 – $435,050 |
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How Much is ERA Real Estate Franchise Profit Margin?
The profitability of a Real estate firm usually varies and it can be influenced by the several factors including, the outlet’s geographical locations, country of operations, local government policies, taxes and more.
Nonetheless, taking the industry’s growth into the consideration, backup from renowned chain, extensive range of real estate related services, affordable franchise cost, a franchise prospects can anticipate a healthy profit margin from ERA Real Estate agency.
Furthermore, as per data posted on Indeed, a leading job portal, a real estate agent is expected to garner an annual income of $94,031, representing over 64.6% more salary than average average annual salary.
Hence, Ultimately, there is no denying that the Industry is growing at unprecedented rate and a franchise aspirants with system approach and dedicate can generate a significant amount of earning.
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Requirements for ERA Real Estate Franchise
- First and most important – One should be financially well-qualified and have good credit to start a ERA Real Estate location, and should be ready to invest a minimum of $27,350 – $435,050.
- Interested applicants will be advised to dedicate themselves to the ERA Real Estate business and follow the company standards and maintain their legacy.
- Interested applicants will have to undergo and complete the necessary training program offered by the ERA Real Estate team.
- Prospective applicants must possess a strong work ethic and unwavering dedication, as they will be actively involved during the initial stages of their new venture with ERA Real Estate.
- Interested franchisees should have passion to work in the Real Estate industry and should possess the leadership and financial skills to operate an ERA Real Estate location.
- One should/or their partner should meet the minimum financial requirement of at least a Net Worth of $150,000 and at least $75,000 in liquid assets.
What are the available Alternatives to ERA Real Estate Franchise?
Undoubtedly, partnering with a renowned brand that serves a wide audience through its extensive outlet network and exceptional customer service eliminates the need for further research into other alternatives.
However, there are still a few commendable opportunities available in the market that could draw your attention;
Red Barn Franchise
Red Barn is another popular chain that was founded in 2005 by Ken and Anita Corsini. However, the chain doesn’t purely operates in the Real Estate, which provide extensive support and services like buying and selling to its client.
The chain primarily offers home flipping services that takes pride in flipping over 1000+ homes in just over a decade of its operations.
In addition to this, owning a Red Barn may not require a huge investment and can be initiated with a minimum investment of $40,000 and more.
If you are really interested in Home Flipping services, you can consider checking this out.
Read more: How to Start A Red Barn Franchise – Cost, Fee, & Profit – Red Barn
KeyGlee Franchise
One of the new entrant in the market, KeyGlee was established in 2016 by Four colleagues, and grew from a single location to over 45+ market across the united states.
Over the years, KeyGlee’s dedication to extensive market research and emphasis on delivering affordable buying value, combined with thorough property market analysis, have enabled the company to amass a substantial customer base and establish a robust reputation in the industry.
However, there could be some difference in its investment as compared to the ERA Real Estate. The details are mentioned below;
To become an approved KeyGlee vendor, one has to pour an initial investment of $124,800 – $274,050, including a whopping franchise fee of $100,000. In addition to this, you’ll be liable to pay a royalty fee of 10%, which will be calculated on a monthly basis.
Read more: KeyGlee Franchise Opportunity – Benefits, Cost, & Profit – KeyGlee
How to Get ERA Real Estate Franchise?
Becoming a part of the ever-growing ERA Real Estate is just a click away, especially if you’re a real estate enthusiast. All you need is an initial investment of $27,350 – $435,050 and a passion to work in a real estate agency.
You need to follow the given steps to get this franchise;
- Visit ERA’ official website and fill in the personal details in the franchising section;
- You may need to fill in the details like Name, Email ID, Phone Number, and Country.
Final Takeaway – Conclusion
ERA is one of the popular Real estate agency, currently operating under its parent company, Anywhere Real Estate Inc. The chain initiated its franchising program in 1972, and since then, it grew into a humongous chain of 2500+ centers worldwide.
With an initial investment of $27,350 – $435,050, which includes a franchise fee of $0 – $25,000, the ERA Real Estate may offer an outstanding profit margin to its stakeholders and one may anticipate an exceptional gross profit margin and healthy net profit margin.
The Bottom line – In case you are interested in the Real Estate Industry and want to take advantage of the opportunity with moderate investment, ERA Real Estate may prove to be an lucrative investment for your(if executed properly).
So, what are you waiting for? Go and start your entrepreneurial journey with ERA Real Estate!!
Good Luck!! Happy Franchising!!
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Want to explore more? Then check out below franchising opportunities.
Food & Beverages Franchise, Bakery Franchise, Home Improvement, Real Estate, and Tea & Café Franchise
FAQ
How much does it cost to start an ERA Real Estate Franchise?
Ans: To become an approved ERA Real Estate owner, one would at least require an initial investment of $27,350 – $435,050. There are some other costs involved and a few of them are listed below;
Franchise Fee: $0 – $25,000
Net Worth: US $150,000
Cash Requirements: US $75,000
Royalty Fee: 6%Is ERA Real Estate Franchise Profitable?
Ans: While there may be varying opinions on ERA Real Estate’s profitability, selecting the ideal location and executing your venture diligently can undoubtedly lead to a favorable margin in the real estate business with ERA.
How much does an ERA Franchise owner make?
Ans: According to the industry standards, one can expect an annual income of over $90,000 in the Real Estate.
