What is the initial cost for the MEMO software provided by Exit?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
ess • Chrome or Microsoft Edge
- 8GB RAM Minimum or Higher Windows 11 or newer operating system
The software provided by EXIT for the Franchise Report System (MEMO) is owned by EXIT and licensed by EXIT to you. EXIT maintains and updates MEMO. EXIT will have independent access to the information generated or stored on MEMO. The initial cost of the MEMO software is $0. Currently, a licensing fee of $250.00 per month for MEMO, payable to EXIT, is charged to you. This fee is to be paid by automatic monthly withdrawal. See Section 9.14 of the Franchise Agreement and ITEM 6 and ITEM 8 of this Disclosure Document.
EXIT may require you to upgrade the hardware and software to maintain compatibility with MEMO.
MEMO calculates and stores the Transaction Fees, Regional Development Fees and Company Development Fees for each transaction performed by your Franchise. The MEMO System tracks all information pertaining to Franchise contract details, as well as information about each of your Sales Representatives. It provides the ability to set commission plans which automatically calculate the commission of every transaction in which a salesperson is involved. It tracks when Sales Representatives cap out on EXIT
Transaction Fees and reach the next commission level. It keeps track of all listings, both pending and sold. It does not track other operating expenses not directly related to real estate transactions, such as office rent, postage expenses, utility expenses, etc.
EXIT Realty Upper Midwest estimates that your cost to purchase a computer is $500- $1,000 per computer. There is a minimum of 1 computer required for the Franchise, although it is likely that you will need 2-4 computers during your initial 6 months in business. Your obligation to upgrade your com
Source: Item 11 — FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 19–24)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the initial cost for the MEMO software is $0. However, franchisees must pay a licensing fee of $250.00 per month to Exit for MEMO. This fee is payable through automatic monthly withdrawals. Exit owns and maintains the MEMO software, and will have independent access to the information generated or stored on it.
The MEMO software calculates and stores transaction fees, regional development fees, and company development fees for each transaction performed by the Exit franchise. It also tracks franchise contract details and information about sales representatives. The system allows for setting commission plans that automatically calculate commissions for each transaction involving a salesperson and tracks when sales representatives reach the next commission level. It also keeps track of all listings, both pending and sold.
It is important to note that MEMO does not track other operating expenses not directly related to real estate transactions, such as office rent, postage expenses, or utility expenses. Exit may also require franchisees to upgrade their hardware and software to maintain compatibility with MEMO. Exit estimates that the cost to purchase a computer is $500-$1,000 per computer, and a minimum of one computer is required, although it is likely that 2-4 computers will be needed during the initial 6 months in business.