HomeVestors, known for its "We Buy Ugly Houses®" slogan, stands out in the real estate investment franchise industry. This company specializes in a unique business model that focuses on purchasing, renovating, and either selling or renting out properties. It distinguishes itself with a strong national brand and robust support system for its franchisees.
Founded in Dallas, Texas, HomeVestors entered the real estate market with a mission to help homeowners sell their properties quickly, regardless of condition. This method not only aids distressed homeowners but also helps revitalize neighborhoods and create investment opportunities.
HomeVestors began franchising in 1996, enabling entrepreneurs to join the expanding real estate investment sector by utilizing the company's established system and brand reputation.
What makes HomeVestors unique is its dedication to ethical business practices and its focus on offering "solutions for ugly situations®" to homeowners. The franchise model is designed to help franchisees manage the complexities of real estate investing, ensuring they can operate both responsibly and profitably in their local markets.
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
HomeVestors offers 2 types of franchises:
We are summarizing below the main costs associated with opening a Full Franchise HomeVestors Business Franchise.
For more information on the various types of franchises and its costs, refer to the Franchise Disclosure Document (Item 7).
The franchisor offers extensive training for franchisees, encompassing various aspects of managing a HomeVestors business. The training includes:
Initial Training: This mandatory program must be completed within 90 days of the Effective Date by the franchisee, their involved owners, and designated employees or independent contractors. It spans 5 days and covers the operation of a HomeVestors Business, including topics like management, goal setting, time management, and website functionality. The training is conducted either at the franchisor's designated facility or virtually. Attendees are responsible for their travel and living expenses.
In-Field Training: Associate Franchisees receive eight hours of hands-on training from a Development Agent mentor. This training covers property acquisitions, marketing, comparable programs, property valuations and rehab, and contract management. It must be completed within three months of signing the Franchise Agreement.
Supplemental Training: Franchisees, their owners, and employees may be required to attend additional training programs, including advanced, sales, and refresher courses. These programs cover system updates, new product introductions, and other relevant topics. The franchisor may charge reasonable fees for this training, and attendees are responsible for their travel and living expenses.
Annual Convention: Franchisees must attend and participate in the annual convention designated by the franchisor, paying the necessary registration fees. At least one attendee per franchise must pay the registration fees, with all travel and living expenses being the franchisee's responsibility.
The franchise agreement with HomeVestors does not provide franchisees with exclusive territorial rights. It explicitly states that the assigned territory is not exclusive, meaning the franchisor may grant additional franchises or operate its own businesses within the same area as an existing franchisee.
Franchisees are expected to put forth their best efforts to promote the sale of products and services throughout their territory.
However, they must be aware that they may encounter competition from other HomeVestors businesses, including those operated by the franchisor or other franchisees in the same region. Additionally, the franchisor reserves the right to sell any products and services within any territory.
KEY FRANCHISE STATS
All you need to know about this franchise
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Below are some of
HomeVestors
key competitors in the
Broker/Realtor
sector.
1082
$85,000
$109,000
$461,000
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The Agency
$100K - $200K
42
$47,500
$120,000
$856,000
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1 Percent Lists
Under $25K
30
$15,000
$23,000
$59,000
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$0
$xxx,xxx
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LakePlace.com
$50K - $100K
6
$10,000
$51,000
$115,000
n.a.
$0
$xxx,xxx
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