Century 21 Real Estate LLC

Item 7 lays out the initial investment from $34,670 to $279,000, covering franchise fee ($25,000), real estate leasehold improvements, equipment, signs, and opening marketing—tailored for converting existing brokerages or new offices. Ongoing fees hit hard: 6% royalty (minimum $500/month), 0.5% brand media fund, plus $1,000-$3,000 annual software fees. The 1,734 franchised units plus 505 corporate locations form a vast network since 1972, but 2023-2024 growth contracted -4% (1,806 to 1,734 total), with 110 terminations, 30 non-renewals, 56 transfers, and just 63 projected new units signaling caution in expansion.

Litigation history in Item 20 highlights disputes over royalties, contract breaches, and confidentiality with ex-franchisees, pointing to operational tensions under Anywhere Real Estate. Without Item 19, estimating profits relies on industry benchmarks—real estate brokerages can thrive on commissions via the brand's referral system and training, but high terminations and contraction suggest vulnerability to market cycles. For brokerage owners eyeing conversion, the low entry barrier shines; newbies face steeper ramps in a fee-heavy model.