Joining the Coldwell Banker Network is an exciting venture, however there is much to consider. There can be many considerations to factor into your decision to joining the Coldwell Banker Brand. We get asked so many questions by potential franchisees, so we have listed our most frequently asked questions below.
This list is not exhaustive, so if you have any more queries, please do not hesitate to call and speak to us – we will be happy to talk you through anything you need us to.
Depending on the type of franchise you take. Variable costs such as rental/purchase of premises, rates, or service charges will have to be considered. A PSRA Business Licence, currently £1000 pa, is required for each franchise type. Outlined below are some cost indicators that should help when considering the setup of your new business.
As it is an established business converting to the Coldwell Banker Brand, the main set-up expenses will be branding such as signage, window display and Internal office display. We have the designs and logos etc. and will provide details once franchise terms are agreed. We are advised that a budget of €5k upwards could be required. The Coldwell Banker initial franchise fee is €7000 for a 5–10 year term for a conversion franchise. Franchise website is €2500 as well as €50 + VAT pcm for email & website hosting. Normal Estate agency running costs are the other considered costs after that.
New start offices will need to consider factors such as variations in size of site, refurbishment requirements and local competition which could affect their expenditure. Many commercial landlords require rent deposits that may eat into your capital. The Coldwell Banker fee is €10,000 for a 5–10 year term for an Office New Start franchise or €12,000 for a Virtual New Start franchise. Franchise website is €2500 as well as €50 +Vat pcm for email & website hosting.
Already operating as an established residential business, adding the Coldwell Banker Commercial Brand to your agency will mean that the main set-up expenses will be branding such as signage, window display and Internal office display. We have the designs and logos etc. and will provide details once franchise terms are agreed.
The Coldwell Banker initial franchise fee is €5000 for a 5–10 year term for a conversion franchise. Franchise website is €2500 as well as €50 +Vat pcm for email & website hosting.
Although benefitting from a business that is already established, the new franchisee may have to appoint new premises etc. to continue business and all the same considerations as a new start franchisee would have to be taken into account. It is possible the re-sale Franchise is an office or a virtual entity. The Coldwell Banker fee is €10,000 for a 5–10 year term for an Office Re-sale franchise or €12,000 for a Virtual Re-Sale franchise. Franchise website is €2500 as well as €50 + VAT pcm for email & website hosting.
From the initial phone call, you will meet with us to discuss possibilities in more detail. From there, and if both parties deem a partnership to be of satisfaction, due diligence will commence on the individual. This process usually takes 2-4 weeks. Note The big variation in timelines comes from the ability to find and secure suitable premises. For virtual franchisees, the process is shorter. Given that the virtual franchisee does not necessarily require premises, the process can happen more quickly – often 1–2 months.
For Independent estate agents looking to convert to the Coldwell Banker network, the process can take approximately 3 months. For individuals looking to launch a Coldwell Banker office as a ‘New Start’; the process takes a similar time. This can be dependent on a number of factors, including hiring staff and finding the right shop-branding and office preparation.
Each Coldwell Banker business has individual territories to work within, based on research and typical market trends. We will work with you to agree a suitable territory which will enable you to run an attractive business, covering sufficient volumes of property.
Territories will reflect the natural reach of areas – typically rivalling other agencies’ coverage. Variations in territory size do exist – for example; in cities where the properties turnover on a quicker basis like Dublin, the territories may be less than a mile or two across, whereas market towns where homes may be lived in for an average of 10 years plus, the territory may reach for miles across.
We have a number of areas that are available for franchise opportunities. We are developing the Munster region currently as we have had a good sales record in the region and wish to enable further agents to enjoy the benefits of our success.
We would happily consider most areas and would welcome a private and confidential chat to discuss further.
Yes, of course – we encourage it! We will support you in opening another office when the time is right.
We will not open two offices in the same area, as the territories are exclusive to each franchise agreement. From time to time, some overlapping may take place at the edges of territories. However, it may be that a nearby area will be available, as we are currently in the process of expanding nationwide. We do allow Joint Ventures, but that is a decision to be made with your neighbouring office and not to do with Coldwell Banker Affiliates Ltd.
Once you become part of our network you also become part of the conversation when it comes to new franchises close by so that there are no surprises and everyone is happy to work together, enjoying the advantages being part of a large network can bring.
The agreements are on a 5–10 year term (renewable).
Behind the scenes in our Dublin head office, we are dedicated to supporting each and every office/territory owner, regardless of location or size.
Support in Marketing, PR, Business Affairs, IT, Accounting, International & Luxury, Compliance and Financial Services is always available. We also offer training where required and assist you from initial set-up to continued operation of your business.
Typically, our franchisees come from an estate agency background, all must hold a PSRA licence in order to be able to practise as an estate agent in Ireland. Often they would be experienced with local knowledge of where they are now operating.
We would consider applications from people from outside the estate agency industry so long as they demonstrate strong business acumen with the focus on recruiting an experienced estate agency person to complement their own skills.
Yes. Strong and well managed offices can be a very rewarding and attractive proposition, not only during the operation, but can also be a very attractive and saleable asset when the time comes to retire or move on to the next chapter. When the time comes to sell your franchise, Coldwell Banker will work with you to secure a suitable purchaser who can take your business to the next chapter.