HOMEVESTORS OF AMERICA Franchising Information & Startup Cost
This is just the right time for you to live your dream of investing in the real estate. It is not even required of you to become a professional investor in the business before you can join HomeVestors franchise. All that is required of you is to have the passion to become one.
With more than 700 franchise locations spread across the United States. HomeVestors franchisees are widely involved in the improvement of their neighbourhoods and at the same time providing fantastic home ownership opportunities for investors.
So the question now is how much is a HomeVestors franchise?
FRANCHISE INFORMATION ABOUT THE COMPANY
HomeVestors franchise was established in the year 1996 by Ken D’Angelo and he began to sell franchises of the business same year. The company, based in Dallas, is involved in the purchase of houses that need to be renovated, and then they do the necessary renovations and then sell them off to make profit.
IS HOMEVESTORS A FRANCHISE?
With more than 700 locations that are spread in different parts of the United States and independently operated. HomeVestors can be considered a franchise and since they sell franchise opportunity, HomeVestors is a franchise.
The company offers a low cost franchise to interested business people that have the passion to build and independent real estate business. The company has a unique franchise model that guarantees success.
THE FRANCHISE OFFER
When you buy into HomeVestors franchise, you will be offered the right to buy and sell, renovate commercial and residential properties and also provide other services to your clients as stated in Franchise Agreement with the company. There are two different franchise offers that investors may buy from
- FULL FRANCHISE: This type of franchise is for an individual that is interested in developing a full real estate. They will be expected to make a full franchise fee payment of $55,000. Full franchisees are also expected to have an office and also employ additional support staff.
- ASSOCIATE FRANCHISE: These kind of franchise opportunity is opened to people that are only interested in developing a part of real estate deal. The franchise fee is $16,000
HOW MUCH DOES A HOMEVESTORS FRANCHISE COST?
The HomeVestors franchise cost will be considered as the sum of all the investments needed to startup a franchise unit with the company. The initial investment that is required of every franchisee is between $45,000 and $350,000 with a net worth requirement of about same amount. New franchisees will also be expected to have a liquid cash of about $300,000
HOMEVESTORS FRANCHISE FEE
When you are buying into the business for the first time, you will be expected to make a HomeVestors franchise fee payment. This will give you the access to operate under the company’s brand identity. The initial franchise fee is between $18,000 and $55,000. New franchisees with the company will also be expected to make an ongoing royalty and ad royalty fee, which definitely vary.
HOW MUCH DOES A HOMEVESTORS FRANCHISE MAKE?
A HomeVestors franchise owner’s earning will depend on a whole lot of factors. Most importantly the location of the franchise unit and the ability of the franchisee to be able to work with the proven business model of the company.
A franchise owner that is located in a high browse urban area will make more money that one located in a small town.
WHO QUALIFIES FOR A HOMEVESTORS FRANCHISE?
Buying into a HomeVestors franchise does not require any special skills. All you need to have is the desire to excel in the business and the passion to buy and sell real estate for profit.
Every new franchisee with the company will be required to undergo a mandatory training that will prepare them ahead of the business they are about to involve in. The initial training program will hold for 5 days at the company’s head office in Dallas.
Franchisees will also be expected to attend further trainings in the course of running their business. This may vary depend on the type of training and it could run for 2-4 days.
Franchisees with HomeVestors will be entitled to a territory, but it may not be entirely exclusive. The franchisor, which is the company, may set up additional franchises within the same location to compete with existing franchises.
TERMS OF AGREEMENT
The initial length of time that a franchisee can hold the license of the company is 5 years. This can be renewed at the expiration of the term if the franchisee wishes to do so or if they are able to meet the requirement set by the company for term renewal.
HomeVestors franchise offers financing directly to their franchisees. Funds can be used to cover for the cost of the following: inventory, cost of equipment and other. Veterans that are honourably discharged from service can also get a 10% incentive off the initial franchise fee payment
HOW TO OPEN A HOMEVESTORS FRANCHISE
Information in this article already talks about how to open a HomeVestors franchise. But for you to complete your application, you will be expected to submit that on the company’s website.
If you are considered for a franchise opportunity, the company will assign to you a franchise manager whose responsibility will be to assist you in setting up your new franchise unit.