San Diego-Based Renovation Realty to Franchise Innovative Model For Renovating, Selling Residential Real Estate at Higher Value
Demand for Company Expertise Leads to New Plan for Growth in Southern California
September 26, 2013 // Franchising.com // SAN DIEGO – Renovation Realty, which pioneered a one-stop-shop approach to residential real estate renovation and sales, today announced the introduction of its franchise operation to take its innovative model for adding value to a client’s home throughout Southern California.
Launched in September 2011 in San Diego, Renovation Realty is both a full service residential renovation contractor and real estate brokerage. The company adds monetary value to customer homes by using its own capital to renovate the property before placing it on the market for sale as the listing brokerage, with zero out-of-pocket costs to a homeowner. The funds are secured by a promissory note and deed of trust, and are repaid at the close of escrow.
Franchise opportunities will initially be available in San Diego County, Los Angeles County, Orange County, Riverside County, San Bernardino County and Ventura County. The aim through the franchise operation is to provide a business model and operating environment that attracts the best people, rewards for performance, stimulates innovation and facilitates long-term revenue and growth.
Renovation Realty has proven the success of its business model in the diverse San Diego market. The company makes the process of renovations and sales worry-free for homeowners who may have below-market properties to sell and lack the capital or the knowledge to renovate and maximize return on investment, or both. Renovation Realty experts know from experience what works in each market and sub market. They recommend renovations that will generate the best return for the client and the fastest sales. Homeowners have seen up to 25 percent increases in values on properties from rural areas to the beach and valued at $200,000 to more than $1 million.
In the past year, Renovation Realty has invested $2.7 million in renovating 51 properties in 33 different zip codes in San Diego County and recorded $21.1 million in sales.
“Demand for our one-stop array of services has grown to where we needed to look at new options, which led to the next logical step to expand our reach through franchising,” said Cannon Christian, president of Renovation Realty. “Our goal is take our proven model and grow it to become the industry leader in residential real estate renovation and sales, providing a turnkey service to property owners, estate and probate attorneys, fiduciaries and trust departments.”
Through ownership of a Renovation Realty franchise, franchisees will benefit from company expertise and established systems while joining what Christian believes will be a growing team of entrepreneurs offering a differentiated approach to home renovations and sales.
“Renovation Realty is dedicated to creating a system of success for its franchisees,” said Christian. “We have invested a tremendous amount of capital and resources to develop and execute our business model. Franchisees will have the benefits of this proven model and built-in brand recognition.”
The Renovation Realty franchise program is registered with the State of California. Franchisees must be well capitalized to open and operate, with a proven track record in related businesses. Additional requirements include experience as a real estate investor, real estate broker, developer, general contractor or high net worth individual investor; franchise group liquid assets of $300,000; franchise fee of $30,000 per 50,000 housing units for exclusive territories; a five year term and 6 percent royalty. In-house financing is available for expansion and continuing operations for qualified applicants. Franchisees will receive start-up assistance and training, technical, operational and managerial assistance.
With initial focus on Southern California, the future growth of Renovation Realty will be based upon single-unit development and the sale of franchise area development agreements.
For additional information on the franchise opportunities, visit www.renovationrealty.net.
About Renovation Realty
Renovation Realty is a San Diego-based company that helps homeowners renovate and sell their homes at an increased return and without incurring any out of pocket costs. As both a full service residential renovation contractor and real estate brokerage, the company adds monetary value to customer homes by using its own capital to renovate the property before placing it on the market for sale as the listing brokerage. Selected as one of San Diego Metro Magazine’s 2012 Most Admired Companies, Renovation Realty and its team members are expert sources on the topics of real estate and home renovations. The company launched its franchise operation in summer 2013. www.renovationrealty.net
SOURCE Renovation Realty