In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Hommati franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Hommati franchise, based on Items 5 and 6 of the company’s 2024 FDD
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Section IV – News updates on the Hommati franchise opportunity
Section V – Presentation and analysis of Hommati’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2023 average, median, highest, and lowest gross revenue and gross profits for the 25 Hommati franchisees that operated for the entire 12 months of Hommati’s 2023 fiscal year and reported they were operating on a full-time basis, grouped by number of years in operation (over 4 years, over 3 years, over 2 years, and over 1 year)
- 2023 average, median, highest, and lowest gross revenue and gross profits for the 53 Hommati franchisees that operated for the entire 12 months of Hommati’s 2023 fiscal year and reported they were operating on a part-time basis, grouped by number of years in operation (over 4 years, over 3 years, over 2 years, and over 1 year)
Section VI – Key ratios, comparables, computations, and analyses for the Hommati franchise opportunity (exclusive content for Platinum subscribers)
Section I – Hommati Franchise Costs
- Hommati franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Franchise Fee: $44,900
- Insurance (Quarterly Installment): $900 to $1,100
- Computer and Wireless Internet Installation: $0 to $2,200
- Software: $250 to $650
- Drone and RC Remote: $3,050 to $3,300
- 10’ Display, 3” Banner, Printing, Literature: $1,974 to $2,174
- iPad Pro 11 – 2021 or Newer, 256GB W/Lidar Enabled, Minimum of Five Broker Video Boxes: $1,350 to $1,450
- Mirrorless Camera and Two Lenses: $3,900 to $4,100
- Other Equipment: $4,425 to $4,525
- 3D Camera Plus Applicable Sales Tax and Shipping: $799 to $899
- Vehicle Deposit, Vehicle Wrap, and Three Months’ Expense: $2,750 to $7,000
- Business Licenses and Sales Tax Deposits: $100 to $250
- Legal and Accounting Fees: $1,500 to $2,250
- Training Expenses: $1,000 to $1,700
- Additional Funds (90 Days): $3,042 to $7,500
- Total Estimated Hommati Franchise Costs: $69,940 to $83,998
Section II – Hommati’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Hommati’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $44,900
- Royalty: 8% to 6% on monthly Gross Revenues from $12,501 to $16,667
- National Advertising Fund Fee: up to 4% of Gross Revenues; a National Advertising Fee and program has not yet been implemented
- Local Advertising: 4% of Gross Revenues or $500 per month, whichever is greater. This total amount includes Direct Mail, Social Media, and Email Drip Marketing, etc.
Section III – Number of Franchised and Company-Owned Hommati Outlets
Franchised
2021
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- Outlets at the End of the Year: 125
- Net Change: +28
2022
- Outlets at the Start of the Year: 125
- Outlets at the End of the Year: 141
- Net Change: +16
2023
- Outlets at the Start of the Year: 141
- Outlets at the End of the Year: 128
- Net Change: -23
Company-Owned
2021
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2023
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 8
- Net Change: +8
Section IV – News Updates on the Hommati Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Hommati Franchise (Item 19, 2024 FDD)
- Here Hommati sets forth certain historical financial performance representations in the tables further below, using the following definitions.
- Annual Gross Revenues means the actual gross revenues derived by each franchisee for the 12 months previous to the survey as determined by franchisees’ royalty reports.
- Annual Gross Profit means the actual gross revenues derived by each franchisee for the 12 months previous to the survey, less the cost of services sold, which includes credit card fees, 3D Upload and Floor Plan fees, the Technology/Syndication fee, Virtual Staging fees, Agent Transparent Background fees, 40% split on the Featured Agent Membership fees, Broker Team Leader fees, Curb Lead fees, Lender Network Advertising Program fees, Sales Tax, and total Royalty paid, during the same period as determined by franchisees’ royalty reports. Cost of services does not include operating expenses such as insurance, online accounting software, labor, auto expenses, advertising, phone, or internet service.
- Franchise Network means the interdependent network composed of all Hommati franchisees.
- Franchisee Benchmark Survey refers to a survey that was sent out to all franchisees in Hommati’s Franchise Network in October 2023 and the results of this survey in addition to the monthly Royalty Reports for the 12 months prior which were used to create this Financial Performance Representation.
- Full-Time Basis means those Franchise Outlets that reported in the survey they were operating at 40 or more hours per week.
- Operating Time Period means the period of time that each franchisee had been operating and within the tier levels shown.
- Part-Time Basis means those Franchise Outlets that reported in the survey they were operating at less than 40 hours per week.
- Royalty Report means the automated electronic system in Hommati’s franchise dashboard that totals the Monthly Gross Revenue from the billings each franchisee made in the month and then calculates the royalties payable by each franchisee. All billings for all jobs performed must be billed within your franchise dashboard and only within your dashboard.
- The financial information was prepared on a basis consistent with generally accepted accounting principles during the respective measurement periods. The information in this analysis has not been audited, it is based on actual historical financial data for the 12-month period prior to the survey as per the Royalty Report generated for those 12 months as well as the answers provided in a Franchisee Benchmark Survey that was conducted.
- Hommati surveyed its Franchise Network in October 2023. At that time, Hommati had 136 franchisees. Of those 136 franchisees, 127 franchisees (93.4%) completed the survey. Of those 127 franchisees, 49 franchises (38.6%) were not operating for the entire 12 months previous and were excluded from these tables.
- Of the 78 remaining franchisees (61.4%), 25 franchisees (32.1%) reported they were operating on a Full-Time Basis and 53 franchisees (67.9%) reported they were operating on a Part-Time Basis.
Part 1A – Full-Time Basis
- Part 1 reflects the Hommati Franchisees in the Franchise Network operating on a Full-Time Basis.
Highest Full-Time
Over 4 Years (1 Franchisee)
- Annual Gross Revenue: $340,964.86
- Annual Gross Profit: $280,885.16
Over 3 Years (1 Franchisee)
- Annual Gross Revenue: $205,621.61
- Annual Gross Profit: $155,426.48
Over 2 Years (1 Franchisee)
- Annual Gross Revenue: $149,705.11
- Annual Gross Profit: $120,126.33
Over 1 Year (1 Franchisee)
- Annual Gross Revenue: $77,206.51
- Annual Gross Profit: $57,316.13
Average Full-Time
Over 4 Years (Average of 7 Franchisees)
- Annual Gross Revenue: $169,400.40
- Annual Gross Profit: $129,502.39
Over 3 Years (Average of 7 Franchisees)
- Annual Gross Revenue: $110,199.11
- Annual Gross Profit: $86,170.45
Over 2 Years (Average of 7 Franchisees)
- Annual Gross Revenue: $89,055.29
- Annual Gross Profit: $71,162.40
Over 1 Year (Average of 4 Franchisees)
- Annual Gross Revenue: $53,702.41
- Annual Gross Profit: $39,606.09
Median Full-Time
Over 4 Years But Under 5 Years (Median of 7 Franchisees)
- Annual Gross Revenue: $145,066.57
- Annual Gross Profit: $107,984.03
Over 3 Years (Median of 7 Franchisees)
- Annual Gross Revenue: $112,219.30
- Annual Gross Profit: $90,832.83
Over 2 Years (Median of 7 Franchisees)
- Annual Gross Revenue: $76,702.99
- Annual Gross Profit: $60,440.21
Over 1 Year (Median of 4 Franchisees*)
- Annual Gross Revenue: $62,007.00
- Annual Gross Profit: $45,981.29
Lowest Full-Time
Over 4 Years (1 Franchisee)
- Annual Gross Revenue: $71,644.79
- Annual Gross Profit: $58,184.28
Over 3 Years (1 Franchisee)
- Annual Gross Revenue: $67,031.14
- Annual Gross Profit: $50,920.27
Over 2 Years (1 Franchisee)
- Annual Gross Revenue: $51,868.20
- Annual Gross Profit: $37,596.48
Over 1 Year (1 Franchisee)
- Annual Gross Revenue: $13,589.11
- Annual Gross Profit: $9,145.62
*There was an even number of franchisees in this tier, so Hommati added the two middle values and divided by 2 in order to get an accurate median value.
Part 1B – Full-Time Basis Stated Results
Highest Full-Time
- Annual Gross Revenue: $340,964.86
- Annual Gross Profit: $280,885.16
- Number Who Attained or Surpassed Stated Result: 1
- Percentage Who Attained or Surpassed Stated Result: 4%
Average Full-Time
- Annual Gross Revenue: $111,815.73
- Annual Gross Profit: $86,650.84
- Number Who Attained or Surpassed Stated Result: 12
- Percentage Who Attained or Surpassed Stated Result: 48%
Median Full-Time
- Annual Gross Revenue: $78,026.98
- Annual Gross Profit: $61,504.49
- Number Who Attained or Surpassed Stated Result: 13
- Percentage Who Attained or Surpassed Stated Result: 52%
Lowest Full-Time
- Annual Gross Revenue: $13,589.11
- Annual Gross Profit: $9,145.62
- Number Who Attained or Surpassed Stated Result: 1
- Percentage Who Attained or Surpassed Stated Result: 4%
- This table takes into account all franchisees who were operating on a Full-Time Basis regardless of their Operating Time Period. It includes all franchisees who were operating for the entire 12 months prior to the survey. Hommati had no franchisees who were operating on a Full-Time Basis for five years or longer at the end of its fiscal year.
- The “stated result” in the table above refers to Annual Gross Profit. The number and percent that attained or surpassed the stated result refers to the number and percent for all tiers of the table above that attained or surpassed the Annual Gross Profit.
Part 1C – Number of Full-Time Franchisees Per Operating Level
Number of Full-Time Franchisees at This Level
- Over 4 Years: 7
- Over 3 Years: 7
- Over 2 Years: 7
- Over 1 Year: 4
Part 2A – Part-Time Basis
- Part 2 reflects the Hommati Franchisees in the Franchise Network operating on a Part-Time Basis.
Highest Part-Time
Over 4 Years (1 Franchisee)
- Annual Gross Revenue: $90,578.18
- Annual Gross Profit: $76,356.62
Over 3 Years (1 Franchisee)
- Annual Gross Revenue: $40,232.11
- Annual Gross Profit: $30,914.96
Over 2 Years (1 Franchisee)
- Annual Gross Revenue: $74,100.80
- Annual Gross Profit: $59,944.80
Over 1 Year (1 Franchisee)
- Annual Gross Revenue: $50,120.93
- Annual Gross Profit: $39,706.86
Average Part-Time
Over 4 Years (Average of 12 Franchisees)
- Annual Gross Revenue: $27,758.10
- Annual Gross Profit: $20,509.38
Over 3 Years (Average of 12 Franchisees)
- Annual Gross Revenue: $14,935.72
- Annual Gross Profit: $10,136.49
Over 2 Years (Average of 18 Franchisees)
- Annual Gross Revenue: $19,950.62
- Annual Gross Profit: $14,253.73
Over 1 Year (Average of 11 Franchisees)
- Annual Gross Revenue: $16,597.57
- Annual Gross Profit: $11,259.44
Median Part-Time
Over 4 Years (Median of 12 Franchisees)
- Annual Gross Revenue: $20,915.14
- Annual Gross Profit: $14,305.12
Over 3 Years (Median of 12 Franchisees)
- Annual Gross Revenue: $10,193.59
- Annual Gross Profit: $6,121.28
Over 2 Years (Median of 18 Franchisees)
- Annual Gross Revenue: $12,679.28
- Annual Gross Profit: $8,194.02
Over 1 Year (Median of 11 Franchisees)
- Annual Gross Revenue: $9,259.11
- Annual Gross Profit: $5,237.64
Lowest Part-Time
Over 4 Years (1 Franchisee)
- Annual Gross Revenue: $2,427.64
- Annual Gross Profit: $259.15
Over 3 Years (1 Franchisee)
- Annual Gross Revenue: $2,033.98
- Annual Gross Profit: -$320.35
Over 2 Years (1 Franchisee)
- Annual Gross Revenue: $270.63
- Annual Gross Profit: -$1,574.81
Over 1 Year (1 Franchisee)
- Annual Gross Revenue: $29.95
- Annual Gross Profit: -$1,782.84
Part 2B – Part-Time Basis Stated Results
Highest Part-Time
- Annual Gross Revenue: $90,578.18
- Annual Gross Profit: $76,356.62
- Number Who Attained or Surpassed Stated Result: 1
- Percentage Who Attained or Surpassed Stated Result: 1.9%
Average Part-Time
- Annual Gross Revenue: $19,886.99
- Annual Gross Profit: $14,116.44
- Number Who Attained or Surpassed Stated Result: 21
- Percentage Who Attained or Surpassed Stated Result: 40%
Median Part-Time
- Annual Gross Revenue: $19,631.99
- Annual Gross Profit: $13,685.94
- Number Who Attained or Surpassed Stated Result: 23
- Percentage Who Attained or Surpassed Stated Result: 51%
Lowest Part-Time
- Annual Gross Revenue: $29.95
- Annual Gross Profit: -$1,782.84
- Number Who Attained or Surpassed Stated Result: 1
- Percentage Who Attained or Surpassed Stated Result: 1.9%
- This table takes into account all franchisees who were operating on a Part-Time Basis regardless of their Operating Time Period. It includes all franchisees who were operating for the entire 12-month period prior to the survey.
- The “stated result” in the table above refers to Annual Gross Profit. The number and percent that attained or surpassed the stated result refers to the number and percent for all tiers of the table above that attained or surpassed the Annual Gross Profit.
Part 2C – Number of Part-Time Franchisees Per Operating Level
Number of Part-Time Franchisees at This Level
- Over 4 Years But Under 5 Years: 12
- Over 3 Years: 12
- Over 2 Years: 18
- Over 1 Year: 11
- Some franchisees have earned this amount. Your individual results may differ. There is no assurance that you’ll earn as much.
Section VI – Hommati Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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