Created By
Mahew Smith
Meng Chieh Wu
Created By
Mahew Smith
Meng Chieh Wu
Franchise ProfileFranchise Profile
TABLE OF CONTENTS
ENTREPRENEURSHIP
HISTORY OF CENTURY 21 REAL ESTATE
ADVANTAGES OF FRANCHISING
DISADVANTAGES OF FRANCHISING
MARKETING AND ADVERTISING
MARKETING AND ADVERTISING 2
ADVERTISING FEE ARRANGEMENTS 3
OPERATIONS MANAGEMENT
OPERATIONS MANAGEMENT OVERVIEW
ADVANTAGES
DISADVANTAGES
FRANCHISE COSTS
STARTUP COSTS
FINANCIAL REQUIREMENTS
FINANCIAL ASSISTANCE
HUMAN RESOURCE MANAGEMENT
HUMAN RESOURCE MANAGEMENT OVERVIEW
BIBLIOGRAPHY
LIST OF SOURCES USED
Page 2 of 10
History of Century 21 Real Estate
Century 21 was founded in 1971 by Art Bartlett and two Orange County, CA real estate
agents – Walter Barrett and Marsh Fisher. Among the list of possible names for the new
real estate company were 20th Century Realty, 21st Realty, Green Valley, and Century 21.
At first the founders believed that Century 21 sounded too futuristic; however, they
noticed it was quite catchy and incorporated soon after. By 1977, Century 21 went public,
which led to it being acquired in 1984 and again in 1995. In 2006, Cendant, the company
who acquired Century 21 in 1995, went through a spinoff, making Century 21 Real Estate
LLC operate under the real estate franchise branch, Realogy. As of today, there are
approximately 7,500 Century 21 offices worldwide with roughly 108,000 sales
professionals in 72 different countries.
Advantages of Franchising
The business will be based on a proven idea and you can use facts from other franchisees
to determine success rates.