First Choice Business Brokers
Business brokerages- 2022 Franchise 500 Rank
-
N/R Ranked #285 last year
- Initial investment
-
$68K - $96K
- Units as of 2022
-
58 123.1% over 3 years
Here’s what you need to know if you’re interested in opening a First Choice Business Brokers franchise.
First Choice Business Brokers was founded in 1994 in Las Vegas, Nevada. First Choice Business Brokers helps small to medium-sized business clients sell or buy a company. Brokers and agents work to give clients an extraordinarily professional and efficient experience when working with First Choice Business Brokers.
Since beginning to franchise in 2005, First Choice Business Brokers has opened over 40 franchises throughout the United States.
Why You May Want to Start a First Choice Business Brokers Franchise
First Choice Business Brokers strives to keep its business practices in good standing with the Institute of Business Appraisers and International Business Brokers Association. Today, the company has grown to hundreds of agents and brokers across the United States. Corporate headquarters for First Choice Business Brokers are located in Las Vegas, Nevada.
Clients are offered many services, including buying or selling a company, a business valuation, merger, acquisition, and general advice. Clients are treated with respect, and franchisees are a part of a national network of First Choice Business Brokers.
Potential franchisees with First Choice Business Brokers should showcase the characteristics of integrity, professionalism, company commitment, passion, open-mindedness, and increased communication abilities. They should also possess a team player attitude, coupled with the ability to balance work, family, and leisure time. If these characteristics sound like you, you may be a good fit for the First Choice Business Brokers franchise family.
What Might Make a First Choice Business Brokers Franchise a Good Choice?
Opening a First Choice Business Brokers franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
First Choice Business Brokers offers you the opportunity to operate your franchise as a mobile unit, potentially lowering or outright eliminating many overhead costs.
As you decide if opening a First Choice Business Brokers franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a First Choice Business Brokers franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
How To Open a First Choice Business Brokers Franchise
To be part of the First Choice Business Brokers team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty fees and advertising fees.
If awarded a franchise with First Choice Business Brokers, franchisees will receive training before opening their location. First Choice Business Brokers gives franchisees access to software to keep listings organized and keep every other aspect of the business in order. Ongoing training is provided as needed or requested.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the First Choice Business Brokers franchising team questions.
Company Overview
About First Choice Business Brokers
- Industry
- Business Services
- Related Categories
- Business Brokerages, Business Coaching & Consulting, Miscellaneous Business Services
- Founded
- 1994
- Parent Company
- First Choice Business Brokers Inc.
- Leadership
- Jeffrey Nyman, CEO
Franchising Overview
- Franchising Since
- 2005 (17 years)
- # of employees at HQ
- 6
- Where seeking
-
This company is seeking new franchisees throughout the US.
- # of Units
- 58 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a First Choice Business Brokers franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $40,000
- Initial Investment
- $67,900 - $95,850
- Net Worth Requirement
- $100,000 - $150,000
- Cash Requirement
- $50,000
- Veteran Incentives
- $5,000 off franchise fee
- Royalty Fee
- 10-8%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- First Choice Business Brokers has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 16.5 hours
- Classroom Training
- 91 hours
- Additional Training
- Additional training
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
- Can this franchise be run from home/mobile unit?
- Yes
- Can this franchise be run part time?
- Yes
- # of employees required to run
- 2
- Are exclusive territories available?
- Yes
Franchise 500 Ranking History
Compare where First Choice Business Brokers landed on this year’s Franchise 500 Ranking versus previous years.
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