Did Exit Realty Upper Midwest have any predecessors?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
Subfranchisor is Upper Midwest Realty, Inc., d/b/a EXIT Realty Upper Midwest, a Minnesota corporation with its principal offices located at 20765 Holyoke Ave, Lakeville, MN 55044, ("EXIT Realty Upper Midwest"). EXIT Realty Upper Midwest is a privately held entity and is not affiliated with EXIT. Exhibit B lists the state agencies also authorized to receive service of process. EXIT Realty Upper Midwest has been in the business of selling real estate franchises since August 9th 2013. EXIT Realty Upper Midwest has no predecessors. EXIT Realty Upper Midwest has never offered franchises in other lines of business.
Source: Item 1 — THE FRANCHISOR AND SUBFRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 6–8)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Exit Realty Upper Midwest, the subfranchisor, has no predecessors. However, the document mentions that EXIT Iowa, LLC, located in Lakeville, Minnesota, previously held the rights to sell Exit franchises in Iowa, South Dakota, and Minnesota from 2006 to 2011 before conveying those rights back to Exit. Subsequently, Exit Realty Upper Midwest acquired these rights from Exit on August 9, 2013.
Additionally, Exit Realty Upper Midwest expanded its subfranchise territory by acquiring rights to sell franchises in North Dakota from Thomas F. Martin on July 12, 2013, in Wisconsin from Exit on April 29, and in Michigan from Exit on March 1, 2021. Furthermore, Exit Realty Upper Midwest Acquisition LLC, an affiliate of the subfranchisor, obtained the rights to sell franchises in Illinois from Legacy Success Group LLC on January 2, 2018.
While Exit Realty Upper Midwest itself has no direct predecessors, the information regarding EXIT Iowa, LLC and the acquisitions of franchise rights in various states could be relevant for a prospective franchisee to understand the historical development and territorial expansion of Exit's subfranchising operations in the Upper Midwest region. It provides context about how Exit Realty Upper Midwest accumulated its current territory and the entities involved in the process.