ERA

Item 7 lays out the financial entry: a $25,000 franchise fee within a total initial investment range of $34,470 to $266,900, flexible for existing brokerages converting to the ERA banner or new setups. Ongoing costs include royalty fees and brand marketing fund contributions (exact rates undisclosed in Item 6), with no fixed monthly minimums noted, allowing scalability based on production. The absence of Item 19 means no average revenues or profits from existing units are provided, forcing buyers to rely on personal validation or industry benchmarks—real estate's commission-driven model amplifies this risk, as success hinges on local markets and agent recruitment rather than franchisor guarantees.

ERA's 434 locations reflect mature system health, with just 5 terminations, 5 non-renewals, and 3 transfers in the latest FDD year, signaling low churn amid modest expansion (19 projected new units). Litigation centers on routine disputes like terminations and fee collections with ex-franchisees, not systemic red flags. For a buyer, this points to a low-disruption platform leveraging national referrals and training, but probe FDD Items 20-21 for full closure stats and validate via current owners whether the brand's Madison, NJ-backed resources translate to outsized commissions in your territory.