Start-Up Costs and Fees |
||
| Room Evolutions | HomeVestors of America | |
| Investment | 190000 - 320000 | 70000 - 426250 |
| Franchise Fee | 0 | |
| Royalty Fee | 4% | Varies |
| Advertising Fee | 1% | Varies |
| Year Founded | 1953 | 1989 |
| Year Franchised | 2008 | 1996 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Room Evolutions | HomeVestors of America | |
| Experience | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. | General business experience |
Financing Options |
||
| Room Evolutions | HomeVestors of America | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | No | Yes |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| Room Evolutions | HomeVestors of America | |
| Training | Initial one week orientation and ongoing | 1 week initial training |
| Support | Newsletter, Meetings, Internet, Field operations/evaluations, Purchasing cooperatives, ongoing mentoring support in each market | |
| Marketing | Marketing materials are created and available | Co-op advertising, Ad slicks, Regional advertising |
| 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 |
||
| Room Evolutions | HomeVestors of America | |
| US Expansion | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin | 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 |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Room Evolutions | |
| HomeVestors of America | |
| Franchise Fee | |
| Room Evolutions | |
| HomeVestors of America | |
| Royalty Fee | |
| Room Evolutions | 4% |
| HomeVestors of America | Varies |
| Advertising Fee | |
| Room Evolutions | 1% |
| HomeVestors of America | Varies |
| Year Founded | |
| Room Evolutions | 1953 |
| HomeVestors of America | 1989 |
| Year Franchised | |
| Room Evolutions | 2008 |
| HomeVestors of America | 1996 |
| Term Of Agreement | |
| Room Evolutions | 5 years +5+5+5 |
| HomeVestors of America | 5 years |
| Renewal Fee | |
| Room Evolutions | $5,000 |
| HomeVestors of America | |
Business Experience Requirements |
|
| Experience | |
| Room Evolutions | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. |
| HomeVestors of America | General business experience |
Financing Options |
|
| Franchise Fees | |
| Room Evolutions | No |
| HomeVestors of America | No |
| Start-up Costs | |
| Room Evolutions | |
| HomeVestors of America | |
| Equipment | |
| Room Evolutions} | |
| HomeVestors of America | |
| Inventory | |
| Room Evolutions | |
| HomeVestors of America | |
| Receivables | |
| Room Evolutions | |
| HomeVestors of America | |
| Payroll | |
| Room Evolutions | |
| HomeVestors of America | |
Training & Support |
|
| Training | |
| Room Evolutions | Initial one week orientation and ongoing |
| HomeVestors of America | 1 week initial training |
| Support | |
| Room Evolutions | |
| HomeVestors of America | Newsletter, Meetings, Internet, Field operations/evaluations, Purchasing cooperatives, ongoing mentoring support in each market |
| Marketing | |
| Room Evolutions | Marketing materials are created and available |
| HomeVestors of America | Co-op advertising, Ad slicks, Regional advertising |
| Operations | |
| Room Evolutions | |
| 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) |
Expansion Plans |
|
| US Expansion | |
| Room Evolutions | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin |
| 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 |
| Canada Expansion | |
| Room Evolutions | |
| HomeVestors of America | |
| International Expansion | |
| Room Evolutions | |
| HomeVestors of America | |