Common Questions
1What are the key advantages of a franchised title agency?
Owning a Lincoln Abstract & Settlement Services title agency franchise offers key advantages to the entrepreneurial business owner interested in having a fully compliant title and closing operation supported in all phases of operation by a company national in scope. Regulators and lenders are demanding ever increasing compliance obligations on their third party vendors. From formalized best practice policies to burdensome and expensive IT security protocols developed in the name of consumer protection and industry transparency, the title industry is evolving. It's increasingly challenging for individual agencies to keep up. Our franchise model provides a solution to; costly IT security protocols, formalized best practice procedures, and maintaining a compliant title and closing operation.
2Who can take advantage of this terrific opportunity in owning a title agency franchise?
Any entrepreneur can apply for a franchise! Whether you are an existing title and closing provider, attorney, real estate professional or bold individual excited at the prospect of building a business in the real estate industry, franchising works for you. Our systems, policies and operational training make the process easy and rewarding.
3How much money will I make?
There is no cap on your success! Whether you’re an existing title and closing provider, real estate professional or dynamic entrepreneur, owning a title franchise will help you leverage your time where it is most productive, building your business. We make it easy, affordable, compliant and transparent. After you apply and complete the initial interview process, qualified franchise applicants will be given an interactive pro forma with more details.
4What qualities and values characterize the ideal franchisee partner?
Franchisee candidates should possess the personal and business qualities that most closely match the corporate culture of Lincoln Abstract & Settlement Services; integrity, honesty, transparency and entrepreneurship. Additionally, the ideal candidate should have a solid record of business accomplishment and a vision for success.
5What type of Training and Support will a franchisee receive?
Lincoln Abstract & Settlement Services will provide training and support on software and business operations. Additionally, we facilitate the acquisition of underwriter approvals, insurance approvals, audit assistance and so much more.
6What is the franchise fee?
The franchise fee is $7,500.
7What is the royalty fee?
There are no royalty fees for a franchisee that meets the minimum monthly gross revenue threshold. Details are available to qualified franchise applicants.
8What is the estimated total initial investment?
Starting a compliant, independently owned and operated title and closing company can be incredibly expensive given the current information technology and regulatory obligations. Lincoln Abstract & Settlement Services has leveraged its existing national vendor relationships to help keep the initial startup investment to an estimated $40,500 - $81,100. An estimated chart of expenses will be available to qualified franchise applicants.
9Is financing available?
Yes, for qualified candidates.
10What is a Franchise Disclosure and how do I obtain the document?
A Franchise Disclosure Document (FDD) is a vehicle whereby a franchisor discloses certain necessary information to a potential franchisee under regulation by the Federal Trade Commission. Parties interested in obtaining the FDD are encouraged to submit an inquiry to become a prospective franchisee and a copy of the document will be provided to qualified franchise applicants.
