To whom are insurance payments made for a Counselor Realty franchise?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
NT**
| (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 |
| Rea |
Source: Item 7 — INITIAL INVESTMENT (FDD pages 13–15)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, initial insurance payments are made to insurance carriers. The FDD indicates that franchisees should budget between $1,500 and $6,000 for insurance costs before opening their Counselor Realty franchise.
Counselor Realty requires franchisees to maintain specific insurance coverage, including general liability insurance with a minimum limit of $1,000,000 per occurrence and $2,000,000 in the aggregate, and errors and omissions insurance with a minimum limit of at least $1,000,000. The actual cost of insurance can vary based on the coverage levels required by the state, local laws, lease agreements, or mortgage requirements.
Prospective Counselor Realty franchisees should carefully review the insurance requirements outlined in the Franchise Agreement and consult with insurance professionals to obtain accurate quotes based on their specific location and business needs. Understanding the full scope of required insurance coverage is essential for budgeting and ensuring compliance with Counselor Realty's standards and legal obligations.