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Sotheby's International Realty
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation (then Cendant Corporation), the world's leading real estate brokerage francisor, entered into a long-term strategic alliance with Sotheby's Holdings, Inc. (LSE: STBA).
Franchisor Background
Year Established:
2004
Franchising Since:
2004
IFA Member
Operating Units:
Franchised Units:
480
91.6%
Company-Owned Units:
44
8.4%
______
_____
Total Operating Units:
524
100%
Geographic Distribution:
U.S.:
339
63.4%
In 36 States
Canada:
11
2.1%
In 3 Canadian Provinces
International:
185
34.6%
In 39 Foreign Countries
______
_____
Total:
535
100%
North America:
States/Provinces with the largest number of operating units:
Density
Units
1. New Jersey
34
2. New York
30
3. California
28
Registered in Following Registration States:
California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia, Alberta
Financial Requirements
Investment:
Minimum Net Worth:
$150K
Cash Investment:
$51.5-146K
Total Investment:
$153.5-566K
Average Total Investment:
$360K
Fees:
Initial Franchise Fee:
$25K
Average Franchise Fee:
$25K
On-Going Royalty:
6%
Average Royalty:
6%
Advertising Fee:
2%
Average Number of Employees:
Varies Full-time, Varies Part-time
Space Needs (in square footage):
1800-3500
Preferred Sites:
Free-standing Building
Other Sites:
Encourage Conversions?
Yes
Earnings Claims Provided?
Yes
Listed in the SBA Registry?
No
Support and Training
International Franchise Association:
Yes
Canadian Franchise Association:
No
Franchisee Association/Member:
Yes, Member
Size of Corporate Staff:
28
Site Selection Assistance?
No
Lease Negotiation Assistance?
No
Financial Assistance?
No
Marketing Support:
Co-Op Advertising:
Yes
National Advertising:
Yes
Regional Advertising:
No
Local Advertising:
No
Marketing Materials:
Ad Slicks, Brochures, Catalogs, Coupons/rebates, Direct Mailers, Emails, Promotional Items, Site Signs, Videos
