What is the estimated range for professional fees for a Counselor Realty franchise?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
| (1) Type of Expenditure | (2) Amount | (3) Method of Payment | (4) When Due | (5) To Whom Payment is to be Made |
|---|---|---|---|---|
| Initial Fee (see Item 5) | $7,500 to $15,000 | Lump sum | When you sign Franchise Agreement | Counselor |
| Real Estate Lease and ImprovementsA | $600 to $12,500 | (See Note A) | (See Note A) | (See Note A) |
| (1) Type of Expenditure | (2) Amount | (3) Method of Payment | (4) When Due | (5) To Whom Payment is to be Made |
| Fixtures and | $1,000 to | As incurred | Before | Vendors |
| FurnishingsB | $15,000 | opening | ||
| Opening Inventory of SuppliesC | $500 to $1,000 | Lump sum | Before opening | Vendors |
| InsuranceD | $1,500 to | Lump sum | Before | Insurance |
| $6,000 | opening | Carriers | ||
| Training Costs (see Item 6) | $0 to $6,200 | As incurred | As billed (for those paid to Counselor); otherwise, as incurred | Counselor, Vendors |
| Internet | $750 to $4,000 | As incurred | As billed | Vendors |
| DevelopmentE | ||||
| SignageF | $1,000 to | As incurred | Before | Approved |
| $10,000 | opening | Vendors | ||
| Professional | $0 to $6,000 | As incurred | Before | Attorneys, |
| FeesG | opening | Accountants |
Source: Item 7 — INITIAL INVESTMENT (FDD pages 13–15)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the estimated range for professional fees is $0 to $6,000. These fees cover expenses for hiring an attorney to review documents or assist in forming a business organization, or an accountant to assist with tax and other matters. These fees are paid as incurred and are due before opening to attorneys and accountants.
It's important to note that this is just an estimate, and the actual amount may vary depending on the complexity of the legal and accounting services required. A Counselor Realty franchisee who is already familiar with real estate law and business practices may incur lower professional fees. Conversely, a franchisee who requires extensive legal or accounting assistance could exceed the $6,000 estimate.
Prospective Counselor Realty franchisees should factor these potential professional fees into their initial investment budget. It is advisable to consult with local attorneys and accountants to get a more precise estimate based on their specific needs and the prevailing rates in their area. Understanding these costs upfront can help in making informed financial decisions and avoiding unexpected expenses during the initial setup phase.