Does the franchisor have direct or independent electronic access to the franchisee's financial, sales or customer records?
YesItem 11
EXIT will have independent access to the information generated or stored on MEMO.
From the filings
+0.917% units YoYMandated tech stackHQ-led decisions
EXIT Realty Virginia
Real estateSoftware purchasing at EXIT Realty Virginia is locked to headquarters: EXIT is the sole approved supplier of the MEMO Franchise Report System every office must license and run. The EXIT network covers 550 franchised offices, all franchised, none company-owned, 15 of them in Virginia.
For software vendors selling into US franchise brands.
Live signals
Total units
550
550 franchised
Unit growth YoY
+0.917%
vs prior filing
AUV
—
Item 19, 2022
Royalty
—
of gross sales
Ad fund
—
national + local
Initial fee
$10K
per unit
Investment range
$66K–$238K
all-in, Item 7
Procurement
Approved supplier
from the filing
Non-compete
1 years
from the filing
Item 19
No claims
from the filing
Franchisor behaviours
What the franchisor requires
17 requirements the franchisor states in this filing, each in its own words; 7 explicit no's; 10 questions the text does not settle, which is not a no.
Accounting
Must the franchisee submit periodic financial statements (monthly, quarterly or annual) to the franchisor?
YesFranchise agreement
Within ninety (90) days after the close of Franchisee’s fiscal year, as used for federal income tax purposes, Franchisee shall file with EXIT and Subfranchisor a statement, showing the year-end balance sheet and the results of operations for the year including gross sales and revenues for the year, with a comparison…
How the franchisor buys
Is the franchisor or an affiliate itself a supplier of required products, services or systems?
YesItem 8
EXIT is the only approved supplier for certain computer software for the Franchise report system known as MEMO.
Does the franchisor reserve the right to change designated suppliers or systems at any time?
YesFranchise agreement
(C) EXIT shall have the sole authority to change, add to, delete or modify the Proprietary Marks, Training Manuals or other parts of the EXIT System, and to do so from time to time.
How much revenue did the franchisor and its affiliates earn from franchisee purchases in the last fiscal year?
0Item 8
Based on the most recent audited financial statements, EXIT’s Affiliates received no revenue from sales to franchisees.
Does the franchisor or an affiliate receive rebates, commissions or other revenue from designated or approved suppliers?
YesItem 8
Approved Suppliers may pay EXIT, through Ah$um America, Inc., a royalty based on sales revenues for each product sold utilizing the EXIT Mark.
Item 8 gives this proportion in one of two shapes: separate percentages for establishing the business and for operating it, or one figure covering "establishing and operating" together. Where they are separate, answer with the operating percentage; where the passage gives only the combined figure, answer with that. What percentage of the franchisee's purchases must come from designated or approved suppliers?
3.0Item 8
We estimate that the required purchases described above are 3.0% to 12.0% of the cost to establish and operate the EXIT Franchise (this includes the exterior sign(s), office supplies, yard signs and MEMO fees).
Can a franchisee propose a new supplier for the franchisor's approval?
YesItem 8
If you wish to have a supplier designated as “Approved,” you may submit information about the supplier and its relevant products or services to Ah$um America, Inc. for review.
Communications
Does the franchisor own or control the business telephone numbers, or take them over when the agreement ends?
YesFranchise agreement
Franchisee shall immediately cause the local telephone company to change all of its telephone numbers and assign the numbers listed for the franchised real estate office to Subfranchisor.
Franchise management
Does the franchisor conduct periodic inspections, audits or evaluations of the franchised business?
YesItem 11
Periodically inspect your office to determine whether you are operating and maintaining it as required by the Franchise Agreement and Training Manuals and provide you with written quality performance reviews.
Can the franchisor change the operations manual and brand standards unilaterally?
YesFranchise agreement
EXIT shall have the sole authority to change, add to, delete or modify the Proprietary Marks, Training Manuals or other parts of the EXIT System, and to do so from time to time.
Must the franchisor approve the franchisee's site or location before opening?
YesItem 11
You must select your office site, subject to EXIT NY METRO’s review and consent, and secure fee or leasehold title for the site.
Operations
Must equipment be purchased from designated or approved suppliers?
YesItem 8
You must purchase all stationery, merchandising material and/or anything else that is utilized by you that contains EXIT’s logo and/or Marks from EXIT’s Approved Suppliers or Suppliers that sign a Confidentiality and License Agreement with EXIT.
People
Does the franchisor require minimum staffing levels or specific roles?
YesFranchise agreement
Franchisee shall have, during a part of each calendar month, the following minimum of Sales Representatives (as defined in Section 43) in Franchisee’s office(s) within its Protected Territory:
Point of sale
Does the franchisor have independent access to the data in the franchisee's POS or computer system?
YesItem 11
EXIT will have independent access to the information on MEMO.
Training
Can the franchisor charge the franchisee for additional, refresher or remedial training?
YesItem 11
If you renew your Franchise Agreement, additional training is required at the time of the renewal.
Is attendance at an annual convention or conference mandatory for the franchisee?
YesFranchise agreement
The annual EXIT Convention is an integral part of the EXIT System and Franchisee is required to attend the annual convention and encourage maximum attendance of all Sales Representatives.
The filing answers no to 7 questions
- Is there a franchisee advisory council, association or committee?Item 20
- Does the franchisor charge a fee to evaluate a proposed supplier?Item 8
- Is the franchisee prohibited from operating its own website or social media accounts, or required to use pages the franchisor provides?Franchise agreement
- Is a minimum grand opening advertising spend required?Item 11
- Is the franchisee required to spend a minimum amount on local advertising or marketing, as a percentage of sales or a fixed amount?Item 11
- Must the franchisee participate in a regional advertising cooperative when one exists?Item 11
- Must the franchisee buy products from a designated distributor?Item 16
The vendor opportunity at EXIT Realty Virginia
EXIT Realty Virginia had 15 franchised offices in Virginia at the end of 2020, part of an EXIT Realty system of 550 franchised offices — all franchised, none company-owned — with its U.S. principal business address in Massachusetts. The FDD makes no financial performance representation. Systemwide franchised outlets grew 0.9% year over year, and the initial term is 5 years.
Who controls software purchasing
Item 2 names Steve Morris as Founder and Chairman. Below headquarters, 40 mapped operators run roughly 40 located offices, an entirely single-unit operator base. The software decision itself sits with EXIT: through its affiliate Ah$um America, Inc., EXIT is the only approved supplier of the required MEMO system.
Tech named in the FDD, and what is actually required
EXIT requires every office to license the MEMO Franchise Report System, and EXIT is the only approved supplier for that software. Offices must also purchase a compatible computer for the MEMO system, running Windows 10 or newer with Chrome or Microsoft Edge. Through Ah$um America, Inc., EXIT reported $659,980.15 in 2019 royalties from Approved Suppliers and $1,409,615.45 from MEMO software license and access fees.
Procurement, renewals, and timing
Item 8 runs on an approved-supplier list maintained by Ah$um America, Inc.: items bearing EXIT's marks must come from Approved Suppliers or from suppliers that sign a Confidentiality and License Agreement, and the MEMO software must be licensed from EXIT itself. Franchisees may propose alternate suppliers for approval, and approval will not be unreasonably withheld if quality standards are met. The initial term is 5 years, renewable for a fee of 10% of the then-current initial franchise fee for territories of the same density, not to exceed 25% of the fee originally paid, with a new franchise agreement and a signed release required.
How to read the EXIT Realty Virginia FDD
The embedded PDF viewer below holds EXIT Realty Virginia's 2022 Franchise Disclosure Document, covering the Item 8, 11, and 17 language cited above. Talk to FranCloud for a ranked list of franchise systems that fit your product better than a cold guess would.
Questions vendors ask
EXIT Realty Virginia, answered from the filing
EXIT itself, through its affiliate Ah$um America, Inc. Founder and Chairman Steve Morris sits atop a system where EXIT is the only approved supplier of the required MEMO software, so a competing vendor has to go through EXIT, not the local office.
The MEMO Franchise Report System is required, licensed exclusively from EXIT, running on hardware and software meeting EXIT's specifications. EXIT reported $1,409,615.45 in 2019 MEMO software license and access fees.
EXIT Realty Virginia had 15 franchised offices in Virginia at the end of 2020, within an EXIT system of 550 franchised offices and none company-owned, in the real-estate segment.
An approved-supplier list under Item 8: items bearing EXIT's marks must come from Approved Suppliers or from suppliers signing a Confidentiality and License Agreement, and the MEMO software must come from EXIT itself; franchisees may propose alternate suppliers for approval.
The initial term runs 5 years, with a renewal available for a fee of 10% of the then-current initial franchise fee. Franchised outlets grew 0.9% year over year, a stable rather than fast-expanding base.
The embedded PDF viewer below holds EXIT Realty Virginia's 2022 Franchise Disclosure Document, covering the Item 8, 11, and 17 language cited above.
Source
Read the filing itself
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FDD alert
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Operator footprint
Who runs the locations
40 operators run 40 mapped locations. 0 of them are multi-unit. Aggregate counts from the filing; no names.
Operators by units owned
Single-unit40
Ownership
The portfolio behind EXIT Realty Virginia
single_brand_holdco of EXIT Realty.
Sibling brands
Related Real estate brands
Primary franchise filings · updated September 2026. Every figure is source-traceable and QA-checked.