Real Property Management (RPM) is a nationwide property management franchise with over 300 locations across the United States. RPM franchisees have access to industry-leading technology, marketing support, and business tools. As with any franchise, there are fees associated with becoming an RPM franchisee. Let’s explore real property management franchise fees in detail, so you can decide whether franchising with RPM is right for you.
Franchise fees are payments that franchisees make to franchisors for the right to use the franchisor’s trademark, business model, and support services. In the case of RPM, franchise fees include an initial franchise fee, ongoing royalty fees, and other fees. The initial franchise fee covers the costs of onboarding and training new franchisees, while ongoing royalty fees are paid regularly to support the continued operation of the franchise.
Initial Franchise Fees
The initial franchise fee for RPM varies based on the size and location of the franchise, as well as the franchisee’s experience. In general, the initial franchise fee ranges from $45,000 to $70,000. This fee covers the costs of onboarding and training new franchisees, as well as providing access to RPM’s proprietary software, marketing materials, and ongoing support.
Ongoing Franchise Fees
In addition to the initial franchise fee, RPM franchisees also pay ongoing royalty fees. These fees are typically a percentage of the franchisee’s gross revenue, ranging from 4% to 7%. The royalty fee covers ongoing access to RPM’s proprietary software, marketing materials, and ongoing support.
In addition to the initial and ongoing franchise fees, RPM franchisees may also incur other fees. These fees may include additional training, marketing support, and software upgrades. While these fees are not typically large, they can add up over time.
Several factors can affect RPM franchise fees. These include the franchise’s location, the type of franchise (i.e., single-unit or multi-unit), the experience of the franchisee, and market conditions. For example, franchise fees in high-cost markets may be higher than fees in lower markets.
In addition to franchise fees, RPM franchisees should also be prepared to invest time and effort into building their business. While RPM provides excellent training and support, success in the property management industry requires hard work, dedication, and a commitment to providing exceptional service to clients.
Franchisees should be prepared to invest in marketing their business, developing relationships with property owners and tenants, and staying up to date with industry trends and regulations. However, franchising with Real Property Management can be a rewarding and lucrative business opportunity with the right mindset and support.
Franchising with Real Property Management can be an excellent way to start or grow your property management business. However, it’s important to understand the costs associated with franchising before deciding. If you have any questions or would like more information, please feel free to contact us at Property Stewards.