First Choice Business Brokers Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$69,150 - $98,100
Franchise Fee
$35,000
Total US Locations
109
Business Summary
First Choice Business Brokers operates a business brokerage franchise that assists business owners in selling their businesses and helps buyers acquire existing businesses. First Choice Business Brokers also provides valuations, consultation, and various other services related to business purchases, sales, resales, and acquisitions. Franchisees earn commissions by acting as a broker in these transactions and have the option to employ or contract with Associates to assist with the brokerage work.
Corporate History
First Choice Business Brokers, Inc. was incorporated in Nevada in August 2005 and began offering franchises in September 2005. Prior to this, the company's principals operated a business brokerage under the name "Nevada Business Brokers" as sole proprietors starting in 1994. An affiliate, Las Vegas 101 Inc. (formerly Nevada First Business Brokers), also conducted a business brokerage from 1996 until 2005.
Financial Overview
Investment Range
$69,150 - $98,100
Franchise Fee (Low)
$35,000
Franchise Fee (High)
$40,000
Royalty %
10%
Equipment Costs (Low)
$1,000
Equipment Costs (High)
$5,000
Working Capital
$17,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
First Choice Business Brokers' financial condition, as reflected in its financial statements, raises questions about the franchisor's ability to provide services and support to its franchisees.
Financing Details
First Choice Business Brokers does not offer any direct or indirect financing options to its franchisees. The franchisor also does not guarantee any notes, leases, or other financial obligations for its franchisees.
Performance Metrics
Total US Locations
109
Franchised Units
109
Corporate Units
0
Franchising Since
2005
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
First Choice Business Brokers has no litigation to report.
Bankruptcy History
First Choice Business Brokers has no bankruptcy history to report.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise, First Choice Business Brokers franchisees must provide written notice, not be in default of their agreement, and have met all monetary obligations. They must also sign the franchisor's current franchise agreement, which may have different terms, and meet current qualification and training requirements for new franchisees. Additionally, they are required to sign a general release and must have achieved at least 20 closed transactions with business listings during the initial term of the franchise.
Training & Support Program
Franchisor Assistance
First Choice Business Brokers provides extensive support both before and after a franchise opens. Before opening, franchisees receive initial training, virtual training sessions, location review and layout assistance, and access to proprietary manuals and systems. They also get an approved suppliers list, proprietary sales tracking, and reporting systems. Training for any Associates is also provided. After opening, First Choice Business Brokers offers ongoing telephone support, updates to their operations manual, and a Kickstart Marketing Program. This program includes website setup, 2,000 direct mailers, a 12-month marketing plan with CRM loading and drip campaigns, and a 6-month marketing vendor plan covering social media management, LinkedIn outreach, webinars, paid ads, graphic design, and monthly SEO/blogging. Franchisees also receive support for operational questions, optional location visits, and can participate in an annual conference or additional training. The franchisor also administers a Brand Fund for system-wide marketing and approves local advertising materials.
Initial Training Hours
161
Training Location
Primarily virtual, with optional portions at the corporate headquarters in Las Vegas, Nevada
Ongoing Support
After opening, First Choice Business Brokers franchisees receive ongoing telephone support, updates to their operations manual, and support for operational questions. The franchisor may conduct optional location visits and a mystery business for sale program to ensure quality. Franchisees and their Key Personnel are required to attend at least one annual conference or training program. The franchisor also provides general ongoing training and support services and administers a Brand Fund for system-wide marketing and promotional efforts.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Supervisory
Territory Type
Limited
Territory Size Requirements
First Choice Business Brokers' Designated Territories have a minimum population of 350,000 people. These territories are defined by specific zip codes, natural geographic features, or established political boundaries.
Staffing Notes
First Choice Business Brokers franchisees are required to maintain a competent and trained staff, which must include a fully trained, full-time manager; this manager can be the franchisee themselves. The franchise model allows, but does not require, franchisees to build a team of Associates, who function as sales agents paid on commission. If the franchisee does not personally operate the business, they must designate Key Personnel responsible for general oversight, operations management, and Associate recruitment. Associates must complete the franchisor's online training within 30 days of hiring.