Start-Up Costs and Fees |
||
| HomeVestors of America | Room Evolutions | |
| Investment | 70000 - 426250 | 190000 - 320000 |
| Franchise Fee | 0 | |
| Royalty Fee | Varies | 4% |
| Advertising Fee | Varies | 1% |
| Year Founded | 1989 | 1953 |
| Year Franchised | 1996 | 2008 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| HomeVestors of America | Room Evolutions | |
| Experience | General business experience | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. |
Financing Options |
||
| HomeVestors of America | Room Evolutions | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | Yes | No |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| HomeVestors of America | Room Evolutions | |
| Training | 1 week initial training | Initial one week orientation and ongoing |
| Support | Newsletter, Meetings, Internet, Field operations/evaluations, Purchasing cooperatives, ongoing mentoring support in each market | |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | Marketing materials are created and available |
| Operations | Less than 5% of all franchisees own more than one unit Number of employees needed to run franchised unit: 2 Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) | |
Expansion Plans |
||
| HomeVestors of America | Room Evolutions | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| HomeVestors of America | |
| Room Evolutions | |
| Franchise Fee | |
| HomeVestors of America | |
| Room Evolutions | |
| Royalty Fee | |
| HomeVestors of America | Varies |
| Room Evolutions | 4% |
| Advertising Fee | |
| HomeVestors of America | Varies |
| Room Evolutions | 1% |
| Year Founded | |
| HomeVestors of America | 1989 |
| Room Evolutions | 1953 |
| Year Franchised | |
| HomeVestors of America | 1996 |
| Room Evolutions | 2008 |
| Term Of Agreement | |
| HomeVestors of America | 5 years |
| Room Evolutions | 5 years +5+5+5 |
| Renewal Fee | |
| HomeVestors of America | |
| Room Evolutions | $5,000 |
Business Experience Requirements |
|
| Experience | |
| HomeVestors of America | General business experience |
| Room Evolutions | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. |
Financing Options |
|
| Franchise Fees | |
| HomeVestors of America | No |
| Room Evolutions | No |
| Start-up Costs | |
| HomeVestors of America | |
| Room Evolutions | |
| Equipment | |
| HomeVestors of America} | |
| Room Evolutions | |
| Inventory | |
| HomeVestors of America | |
| Room Evolutions | |
| Receivables | |
| HomeVestors of America | |
| Room Evolutions | |
| Payroll | |
| HomeVestors of America | |
| Room Evolutions | |
Training & Support |
|
| Training | |
| HomeVestors of America | 1 week initial training |
| Room Evolutions | Initial one week orientation and ongoing |
| Support | |
| HomeVestors of America | Newsletter, Meetings, Internet, Field operations/evaluations, Purchasing cooperatives, ongoing mentoring support in each market |
| Room Evolutions | |
| Marketing | |
| HomeVestors of America | Co-op advertising, Ad slicks, Regional advertising |
| Room Evolutions | Marketing materials are created and available |
| Operations | |
| HomeVestors of America | Less than 5% of all franchisees own more than one unit Number of employees needed to run franchised unit: 2 Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
| Room Evolutions | |
Expansion Plans |
|
| US Expansion | |
| HomeVestors of America | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Room Evolutions | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin |
| Canada Expansion | |
| HomeVestors of America | |
| Room Evolutions | |
| International Expansion | |
| HomeVestors of America | |
| Room Evolutions | |