LakePlace.com
Full-service real estate brokerage specializing in the purchase and sale of lake and other water-related properties, with listings featured on the LakePlace.com website and buyer and seller referrals within designated territories.
Your franchise match score
Real Estate
Brand highlights
- CEODavid Gooden
- Headquarters1120 East 80th Street, Bloomington, MN, 55420
- Year founded2015
- Year started franchising2015
- IndustryReal Estate
- Locations open14 (+4 last three years)
Statistics & metrics
- Investment range$16,000 - $33,000
- Franchise fee$10,000
- Royalty10% of Gross Commission Income on GCI of up to and including $750,000; 8% of Gross Commission Income on GCI of $750,001 to $1,500,000; and 6% of Gross Commission Income on GCI over $1,500,000. However, if your Gross Commission Income is less than the Minimum Royalty Fee of $25,000 per calendar year, beginning the first full calendar year following the “Effective Date” of your Franchise Agreement, you must also pay the Royalty Fee Deficiency described below.
- Brand fund
- Required Liquid CapitalN/A
- Required Net WorthN/A
Learn more about the Real Estate industry:
Real estate franchises include brokerage firms, property management, and inspection services. This industry is ideal for those with a strong network and an interest in the property market.
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FDD insights
The information shown below is derived from publicly available franchise disclosure documents (FDDs), including the version issued as of the issuance date listed below, and other third-party sources. This information may not reflect the most current FDD. It is provided for general informational purposes only and is not part of any franchise offering or sales process. Franchise Sidekick is not providing or furnishing an FDD in accordance with FTC requirements. You should obtain and review the most current official FDD directly from the franchisor before making any investment decision.
FDD Version Referenced - Issuance Date: 2019-09-26
| Category | Detail | View |
|---|---|---|
| The Franchisor & Executives | Learn about LakePlace.com, its parent company, and the executive leadership team responsible for operating and supporting the franchise system. | |
| Business Experience | Review the professional backgrounds and relevant business experience of LakePlace.com's executives, directors, and key management personnel. | |
| Litigation | Understand any past or pending legal actions involving LakePlace.com, its affiliates, or key personnel that may be relevant to prospective franchisees. | |
| Estimated Initial Investment | Review the estimated total initial investment required to open a LakePlace.com franchise, including startup costs and working capital estimates. | |
| Financial Performance Representations | Review any financial performance information LakePlace.com provides, including revenue or earnings data, if disclosed. |
Location data
| Total locations | 14 |
| Franchise locations | 5 |
| Corporate locations | 9 |
System growth over time
FAQs
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