HomeVestors of America Franchise Opportunities
HomeVestors of America franchise is a franchise opportunity with its main business operations centered on the buying of homes, home repairs and also, the selling of real estate just like another franchise Crye Leike. This franchise was founded 21 years ago in 1996 and started franchising the very year it was founded.
With its operational headquarters located in Dallas, Texas, HomeVestors of America Franchise was founded by Ken D’Angelo, and is and is an off-shoot of its parent company; Franchise Brands LLC.
David Hicks is HomeVestors of America’s current CEO.
Currently, HomeVestors of America Franchise has over 725 franchise outlets spread in all the states across the United States, offering excellent real estate services, beautifying communities through the purchase, adding of value through refurbishment, and the sale of these real estate properties for a profit.
It is little wonder that this brand has grown in popularity as one of the best brands synonymous with high value real estate.
How much is an homevestors of america franchise?
- How much does it cost to open an homevestors of america?
- Is homevestors of america a franchise that is expensive?
- What is the average homevestors of america franchise price and fee?
HomeVestors of America Franchise Financial Requirements
For franchisees or franchise candidates interested in owning a part of this high value real estate franchise, HomeVestors of America Franchise has the following financial requirements as a pre-condition for ownership.
These include an Initial Investment ranging from $44,000 to $347,250, franchise candidates are expected to have a net-worth value within the range of $44,000 to $347,250. Also, franchise candidates are expected to possess a liquid cash requirement also of the same amount as the net-worth requirement and the Initial Investment.
HomeVestors of America Franchise Ongoing Fees
There are ongoing fee required by HomeVestors of America Franchise for payment by franchisees. The following make up these fees; an Initial Franchise Fee of $18,000 to $55,000, an Ongoing Royalty fee which is not currently at a fixed amount, this goes same for the Ad Royalty fee.
These fees are binding on HomeVestors of America franchisees, as it is contained in the Franchise Disclosure Document which was signed by both parties.
HomeVestors of America Franchise Operational Territory
Although HomeVestors of America Franchise offers its franchisees an operational territory, this does not mean that it is absolutely exclusive, as there might be other HomeVestors franchisees within the given territory.
This means that there will be competition, but it is managed in such a way that the franchisees will still be profitable as there are a fixed amount of franchisees within a given territory.
HomeVestors of America Franchise Financing Options
The financing options available to HomeVestors of America franchisees, includes an in-house financing arrangement set up by the franchisor, which offers financing to cover inventory.
Also, a second financing arrangement on offer is a third-party relationship between HomeVestors and finance sources that offer financing to also cover inventory. All franchisees under this franchisor are qualified to benefit from these finance options.
HomeVestors of America Franchise Training and Support
All new franchisees are required to go through a period of training organized by the franchisor. This includes a five -day training at the company’s corporate headquarters in Dallas, Texas. Apart from this five- day training, there is also an on-site training lasting a period of 8 hours. It is also required that if the franchisor will need the services of a manager, the manager should be included in the training process.
However, old franchisees also benefit from periodic trainings in the form of refresher courses, among other forms of trainings to update them with knowledge on current industry happenings and innovations.
In the area of Support, HomeVestors of America Franchise offers support to include field operations, Internet access, and periodic meetings among other forms of support that will be beneficial to the franchisee.
HomeVestors of America Franchise Veteran Incentives Program
The veteran incentive program on offer at HomeVestors of America Franchise offers veterans who have served their country honourably and without any criminal records a whopping 10% discount off the franchise fee; hence, rewarding them with the opportunity to own a part of this brand with reduced financial implications.
Terms of Agreement and Renewal of HomeVestors of America Franchise
Under the terms of agreement agreed upon by the franchisee, HomeVestors of America Franchise has a set ownership term lasting a period of 5 years. After the 5 year period, an extension of the ownership period is made after having met certain conditions as specified by the franchisor. An extension of ownership also depends on whether the franchisor still runs a franchise program.
How to Join HomeVestors of America Franchise?
To buy a part of this business, interested franchise candidates can visit the franchisor’s web address and navigate to the franchise section. Within this section is an online application form where the franchise candidate is expected to carefully fill in the spaces with the required information.
Once complete, the form should be submitted online. However, ownership of this franchise is dependent on a prequalification screening to ascertain if the applicant is qualified or not. This is done through the screening of the information provided.
If qualified, a HomeVestors of America Franchise representative establishes contact using the contact details supplied on the form. From this point a meeting is organized with the franchise candidate, and the Franchise Disclosure Document is handed over to the candidate containing details of the agreements and operation of the franchise. If he/she finds the conditions acceptable, he/she returns to sign the document and immediately, training commences.
The information supplied are the basic details of the HomeVestors of America Franchise program, with information supplied to include the financial requirements demanded by the franchisor, ongoing fees, territory, and how to own a part of this franchise. It is believed that this will act as a guide for interested investors.