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Updated RecentlyWeichert Real Estate vs 1st Class Real Estate Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Weichert Real Estate vs 1st Class Real Estate including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $62,500 - $324,700 | $14,420 - $209,475 |
| Franchise Fee | $25,000 | $5,000 - $25,000 |
| Royalty Fee | 6% | - |
| Advertising Fee | 2% | - |
| Year Founded | 1969 | 2012 |
| Year Franchised | 2000 | 2018 |
| Term Of Agreement | 7 years | - |
| Term Of Agreement | 7 years | - |
| Renewal Fee | $1K | - |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | Yes/- |
| Start-up Costs | No/No | Yes/- |
| Equipment | No/No | -/Yes |
| Inventory | No/No | -/Yes |
| Receivables | No/No | -/Yes |
| Payroll | No/No | -/Yes |
Training & Support |
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| Training | Classroom Training: 28.25 hours Additional Training: Annual conference; quarterly workshops (local) | Classroom Training: 16 hours Additional Training: Virtual training |
| Support | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Field Operations Proprietary Software Franchisee Intranet Platform | Ongoing Support Newsletter Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Co-op Advertising National Media Regional Advertising Social media Email marketing | Co-op Advertising Ad Templates Social media SEO Website development Email marketing Loyalty program/app |
| Operations |
10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 5 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)
| Number of Employees Required to Run: 3 |
Expansion Plans |
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| US Expansion | Yes | - |
| Canada Expansion | No | - |
| International Expansion | No | - |
Company Overviews
About Weichert Real Estate
Weichert, Realtors opened in 1969 with a single office. Jim Weichert opened his first real estate office in Chatham, New Jersey, He began franchising in 2000, and today the company is
based in Morris Plains, New.Jersey. Franchisees help customers buy and
sell both residential and commercial real estate, and streamline the
delivery of mortgages and home and title insurance.
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
#285 in Franchise 500 for 2020.
#337 in Franchise 500 for 2021.
About 1st Class Real Estate
!["1st]("https://fddexchange.com/wp-content/uploads/2020/07/1st-Class-Real-Estate.jpg")
1st Class Real Estate is a full-service real estate company that desires to help YOU grow your business! Like everyone else we offer competitive splits & support; however, it is our culture that sets us apart from the rest! We’ve made it possible for you to grow your business with a team of individuals without breaking the bank!
The total investment necessary to begin operation of a 1st Class Real
Estate Full-Service Model is $55,870- $209,475.
This includes $25,950
that must be paid to the franchisor or affiliate.
The total investment necessary to begin operation of a 1st Class Real Estate Incubation Model is $14,420-$71,795.
The total investment necessary to begin operation of a 1st Class Real Estate Incubation Model is $14,420-$71,795.
This includes $5,950 that
must be paid to the franchisor or affiliate.
Seeking new franchise units in the following regions/states: Alaska, Alabama, Arkansas, Arizona, California, Colorado,
Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa,
Idaho, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Maine,
Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, New
Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon,
Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Vermont,
Wisconsin, West Virginia and Wyoming