$10.8M Revenue | National Real Estate Franchise | Canada
Project Horizons is a national real estate brokerage and franchise platform with approximately 30 locations and over 200 licensed realtors across Canada. Founded over a decade ago, the Company offers a flat-fee, technology-driven alternative to traditional commission-split brokerages. Realtors retain a greater share of their commissions while accessing the brand, compliance infrastructure, marketing support, and proprietary CRM technology of a national network. The brokerage generated $10.4M in gross commission income (GCI) in FY2025, with combined brokerage and franchise revenue of $10.8M, translating to $1.36M in net revenue.
The business operates with a lean corporate team that manages brokerage compliance, agent onboarding, franchise support, and technology development. The Founder maintains an active role in strategic direction and key relationships, with day-to-day operations run by experienced staff. Project Horizons generates income from both brokerage operations (~73% of net revenue) and franchise royalties (~27%), providing diversified and recurring revenue streams with EBITDA margins exceeding 42%.
Key Investment Highlights
Scalable Platform Model. The technology-driven platform enables agent growth with minimal incremental overhead, creating significant operating leverage as the network expands.
Strong and Expanding EBITDA Margins. EBITDA margin expanded from 35.2% (FY2024) to 42.2% (FY2025) on net revenue, driven by the efficiency of the flat-fee model and lean corporate structure.
Dual Revenue Streams. Income is derived from both brokerage operations (~73% of net revenue) and franchise royalties (~27%), providing diversification and recurring revenue characteristics.
Proprietary Technology Platform. A purpose-built CRM and operational platform supports agent management, compliance, and marketing, creating switching costs and a defensible competitive position.
Large and Growing Agent Network. Over 200 licensed realtors across approximately 30 locations, with network effects and national brand recognition driving continued agent recruitment.
$10.8M Combined GCI and Franchise Revenue. The platform processed $10.4M in gross commission income from brokerage alone in FY2025, demonstrating the scale of the agent network relative to the lean corporate cost base.
Reason for Sale
The Founder is seeking the right partner to take the business to its next stage of growth. The Company is well-positioned for expansion, and the Founder is open to continued involvement during a transition period to ensure continuity for agents, franchise partners, and staff.
Next Steps
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