What is the definition of a "Branch Office" for a Corcoran franchise?

According to the 2025 Corcoran Franchise Disclosure Document, a "Branch Office" is defined as any approved Corcoran office that a franchisee operates, excluding the Main Office or a Limited Purpose Office.

This definition is important for prospective franchisees as it distinguishes between different types of Corcoran offices. The initial franchise fee for the first Corcoran office is $25,000, while the initial franchise fee for additional Branch Offices is $10,000 per office. Understanding the distinction between a Main Office, a Branch Office, and a Limited Purpose Office is crucial for financial planning and operational strategy.

Knowing the specific type of office is also important because the franchise agreement outlines different requirements and addenda for each. For example, a Location Addendum is required for Branch Offices, while a Limited Purpose Office Addendum is needed for Limited Purpose Offices. These addenda likely contain specific terms and conditions applicable to each type of office, impacting the franchisee's obligations and rights.

Therefore, a prospective Corcoran franchisee should carefully consider the definitions of each office type and how they align with their business goals. Understanding these distinctions will help in making informed decisions about the number and type of offices to operate, as well as the associated costs and requirements.