Start-Up Costs and Fees |
||
| Keyrenter | Welcome Home Rents Home | |
| Investment | 66430 - 136514 | 49900 - 87400 |
| Franchise Fee | ||
| Royalty Fee | 7% | Greater of $62.50 or 0.5% of Gross Revenues paid monthly |
| Advertising Fee | 1% | 1% |
| Year Founded | 2007 | 2010 |
| Year Franchised | 2014 | 2010 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Keyrenter | Welcome Home Rents Home | |
| Experience | We take strict precautions to protect our brand, reputation and increase the success rate of our franchisees. Because of this, we must be selective in our expansion process. The personality profile of the ideal franchise owner includes all of the traits listed below: * Honest and ethical value system * Entrepreneurial spirit and mind-set * Enjoys working with people * Good communication, marketing and networking skills * Driven to provide excellent customer service * Understands the concept of giving back * Financially stable * Management and staffing ability Each Keyrenter Franchise candidate must be willing and able to fulfill the following tasks: *Participate in training and develop understanding of all Keyrenter systems * Recruit, hire and train staff while ensuring their access to corporate support * Learn, understand and abide all fair housing laws and regulations * Manage staff or hire business manager * Build brand awareness and participate in marketing campaigns | Trustworthy Conscientious Ability to develop relationships quickly Personable and outgoing. |
Financing Options |
||
| Keyrenter | Welcome Home Rents Home | |
| Franchise Fees | Yes | |
| Start-up Costs | ||
| Equipment | ||
| Inventory | ||
| Receivables | ||
| Payroll | ||
Training & Support |
||
| Keyrenter | Welcome Home Rents Home | |
| Training | Phase I - The initial training program is held approximately one month prior to the opening of your business and there is no fee to attend the program. It is held at Keyrenter Headquarters in Midvale, Utah (Salt Lake City) and is also referred to as KeyUniversity. It was designed for completion in one week (5 business days). Approximately 27 hours will be spent in the classroom, and 8 hours will be spent shadowing a Keyrenter Property Manager while they are actually on-the-job. KeyUniversity will cover the following topics: accounting, marketing, management, maintenance, office procedures, sales and closing. Phase II training is delivered in three different stages as follows: Stage 1 - JUST IN TIME TRAINING - Once the business has opened, an onboarding specialist will be appointed to assist with questions for the first 12 weeks to address any question about software and KeySystems. After that, we will always be here to assist during regular business hours and we will respond to questions as quickly as possible. Stage 2 - ONGOING SUPPORT - After onboarding is complete, continued ongoing support in the form of phone and email assistance, conference calls and pre-scheduled webinars will be available.. Stage 3 - ANNUAL EVENTS - Annual conventions will be held at our headquarters, or other location we designate. Conventions will not exceed four (4) days in length. The purpose is to create a fun and stimulating environment where franchisees can benefit from the synergy created by like minded people. The event will be used to launch new products, and discuss business trends, policies, procedures and trade regulations. Advanced training and mastermind sessions will also be available. | Comprehensive training through Welcome Home University. |
| Support | Purchasing Co-ops Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform | Access to professionally designed forms, letters, and checklists. Training and support of our proprietary management software. Access to our local and national vendors to manage and promote your properties. |
| Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing | |
| Operations | The Keyrenter Property Management business model is scalable. To begin with, at least one property manager is required to negotiate contracts. After the ramp-up stage, a full-time office manager should be added to handle calls during business hours. A broker license association may also be required depending on your state's regulations. Each franchise owner must decide whether to obtain a real estate license, or hire someone who already has one. * Pay yourself * Market to owners * Close contracts * Make sure properties are ready to rent * Oversee maintenance of properties * Provide property inspections * Collect rents * Pay vendors Absentee Ownership Allowed Number of Employees Required to Run: 1 | |
Expansion Plans |
||
| Keyrenter | Welcome Home Rents Home | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Keyrenter | |
| Welcome Home Rents Home | |
| Franchise Fee | |
| Keyrenter | |
| Welcome Home Rents Home | |
| Royalty Fee | |
| Keyrenter | 7% |
| Welcome Home Rents Home | Greater of $62.50 or 0.5% of Gross Revenues paid monthly |
| Advertising Fee | |
| Keyrenter | 1% |
| Welcome Home Rents Home | 1% |
| Year Founded | |
| Keyrenter | 2007 |
| Welcome Home Rents Home | 2010 |
| Year Franchised | |
| Keyrenter | 2014 |
| Welcome Home Rents Home | 2010 |
| Term Of Agreement | |
| Keyrenter | 10 years |
| Welcome Home Rents Home | 10 years |
| Renewal Fee | |
| Keyrenter | |
| Welcome Home Rents Home | |
Business Experience Requirements |
|
| Experience | |
| Keyrenter | We take strict precautions to protect our brand, reputation and increase the success rate of our franchisees. Because of this, we must be selective in our expansion process. The personality profile of the ideal franchise owner includes all of the traits listed below: * Honest and ethical value system * Entrepreneurial spirit and mind-set * Enjoys working with people * Good communication, marketing and networking skills * Driven to provide excellent customer service * Understands the concept of giving back * Financially stable * Management and staffing ability Each Keyrenter Franchise candidate must be willing and able to fulfill the following tasks: *Participate in training and develop understanding of all Keyrenter systems * Recruit, hire and train staff while ensuring their access to corporate support * Learn, understand and abide all fair housing laws and regulations * Manage staff or hire business manager * Build brand awareness and participate in marketing campaigns |
| Welcome Home Rents Home | Trustworthy Conscientious Ability to develop relationships quickly Personable and outgoing. |
Financing Options |
|
| Franchise Fees | |
| Keyrenter | Yes |
| Welcome Home Rents Home | Yes |
| Start-up Costs | |
| Keyrenter | |
| Welcome Home Rents Home | |
| Equipment | |
| Keyrenter} | |
| Welcome Home Rents Home | |
| Inventory | |
| Keyrenter | |
| Welcome Home Rents Home | |
| Receivables | |
| Keyrenter | |
| Welcome Home Rents Home | |
| Payroll | |
| Keyrenter | |
| Welcome Home Rents Home | |
Training & Support |
|
| Training | |
| Keyrenter | Phase I - The initial training program is held approximately one month prior to the opening of your business and there is no fee to attend the program. It is held at Keyrenter Headquarters in Midvale, Utah (Salt Lake City) and is also referred to as KeyUniversity. It was designed for completion in one week (5 business days). Approximately 27 hours will be spent in the classroom, and 8 hours will be spent shadowing a Keyrenter Property Manager while they are actually on-the-job. KeyUniversity will cover the following topics: accounting, marketing, management, maintenance, office procedures, sales and closing. Phase II training is delivered in three different stages as follows: Stage 1 - JUST IN TIME TRAINING - Once the business has opened, an onboarding specialist will be appointed to assist with questions for the first 12 weeks to address any question about software and KeySystems. After that, we will always be here to assist during regular business hours and we will respond to questions as quickly as possible. Stage 2 - ONGOING SUPPORT - After onboarding is complete, continued ongoing support in the form of phone and email assistance, conference calls and pre-scheduled webinars will be available.. Stage 3 - ANNUAL EVENTS - Annual conventions will be held at our headquarters, or other location we designate. Conventions will not exceed four (4) days in length. The purpose is to create a fun and stimulating environment where franchisees can benefit from the synergy created by like minded people. The event will be used to launch new products, and discuss business trends, policies, procedures and trade regulations. Advanced training and mastermind sessions will also be available. |
| Welcome Home Rents Home | Comprehensive training through Welcome Home University. |
| Support | |
| Keyrenter | Purchasing Co-ops Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Welcome Home Rents Home | Access to professionally designed forms, letters, and checklists. Training and support of our proprietary management software. Access to our local and national vendors to manage and promote your properties. |
| Marketing | |
| Keyrenter | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Welcome Home Rents Home | |
| Operations | |
| Keyrenter | The Keyrenter Property Management business model is scalable. To begin with, at least one property manager is required to negotiate contracts. After the ramp-up stage, a full-time office manager should be added to handle calls during business hours. A broker license association may also be required depending on your state's regulations. Each franchise owner must decide whether to obtain a real estate license, or hire someone who already has one. * Pay yourself * Market to owners * Close contracts * Make sure properties are ready to rent * Oversee maintenance of properties * Provide property inspections * Collect rents * Pay vendors Absentee Ownership Allowed Number of Employees Required to Run: 1 |
| Welcome Home Rents Home | |
Expansion Plans |
|
| US Expansion | |
| Keyrenter | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Welcome Home Rents Home | |
| Canada Expansion | |
| Keyrenter | |
| Welcome Home Rents Home | |
| International Expansion | |
| Keyrenter | |
| Welcome Home Rents Home | |