Renovation Sells Franchise Information

Own A Renovation Sells

ABOUT RENOVATION SELLS

  • How much it costs
  • How Renovation Sells Works
  • Why Renovation Sells
  • How Much Does It Cost?
  • Renovation Sells in Action
  • Why is Now the Time to Invest?
  • A Brand is Born
  • The Leadership Team
$78,208 to $101,142
Start-Up Cost
$50,000
Initial Franchise Fee
7% of gross revenue
Royalty

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Renovation Sells focuses exclusively on pre-sale renovations, delivering high impact cosmetic improvements that result in quicker and higher-priced home sales. By shifting to partnering with home sellers and real estate agents, Renovation Sells has seen explosive growth. After rehabbing more than 150 Chicago-area homes in three years for an average of $20K per project, Renovation Sells has identified the gap in the marketplace of outdated homes on the market not matching the preferences of millennial buyers and crafted a solution that will translate in all markets. In 2020, Renovation Sells began franchising and is seeking qualified franchise owners to bring this much-needed service to markets throughout the country. 

The home renovation industry has continued to see growth, even in hard economic times. This industry is projected to reach more than $384 billion in 2020, and Renovation Sells is positioned to take advantage of the need and opportunity with its unique business model.

Every home in America built 5+ years ago needs pre-sale renovations before listing in order to appeal to today's buyer and Renovation Sells closes the gap on what is on the market vs. what buyers expect when buying. In the company's first year, its clients homes sold an average of 97% of the asking price. 

In 2019, as word spread, the company saw a whopping 310% increase in sales. That growth carried over into 2020, when, despite a global pandemic, Renovation Sells still saw another 20% year-over-year increase in sales. After optimizing the business for three years, Renovation Sells launched its franchise opportunity in 2020. With the help of general contractor John Bura and interior designer Briana Gershenzon, the Valentes built a system that provides every resource a franchisee will need to grow their Renovation Sells business in a new market, including marketing, design, project management technology, and every other facet of the business.

Where most rehab companies take on custom projects with homeowners looking to upgrade their houses for their own families, Renovation Sells instead works with real estate agents who are helping homeowners sell their homes. Franchisees benefit from the brand’s growing reputation as a high-value partner and innovative disruptor in home renovations.

Investments for franchise opportunities in the home renovation space can soar well over $200,000. The initial investment to franchise with Renovation Sells ranges from $78,208 to $101,142, including a $50,000 franchise fee making it much lower than most competitors. 

After rehabbing more than 170 Chicago-area homes in three years for an average of $20K per project, Renovation Sells has identified the gap in the marketplace of outdated homes on the market (outdated, old, dark) not matching the preferences of millennial buyers (clean, simple, updated) and crafted a solution that will translate in all markets.

The pandemic has made nearly half of millennial home shoppers speed up their home buying timeline, and these buyers have expectations. Renovation Sells has a niche in the industry by making small, impactful renovations to ready homes for the market and meet the expectations of buyers for updated homes. 

In Renovation Sells’ first year, its clients homes sold at an average of 98% of the asking price. In 2019, as word spread, the company saw a whopping 310% increase in sales. That growth carried over into 2020, when, despite a pandemic that brought the economy to a screeching halt, Renovation Sells still saw another 20% year-over-year increase in sales.

In 2017, Renovation Sells’ co-founder Michael Valente was feeling burnt out. Valente, a general contractor and licensed Realtor™, had completed more than 500 client construction projects in his career, most of them on luxury homes that promised big payouts but consistently went over time and budget, eating into his profits.

But when Michael came across an article about how rental properties were undergoing renovations to increase rent prices, the idea of Renovation Sells was born. He knew the same model could be applied to homes in preparation for going on the real estate market and rather than focusing on a small number of large projects with unpredictable returns, the business can take on a high volume of projects focused exclusively on attractive, high-quality cosmetic renovations, executed to maximize speed and minimize costs.

Michael Valente: Co-Founder & Managing Partner

Amanda Valente: Co-Founder & CMO

John Bura: Partner & General Contractor

Briana Gershenzon: Interior Designer

Meet the Minds Behind Renovation Sells

Renovation Sells Co-founder Michael Valente Discusses How the Brand Positions Franchisees for Success in a Booming Industry 

Since 2018, the Renovation Sells team has renovated over 170 homes (and counting) with an average price of $20,000 per project.

1851: Tell us about the history and founding of the brand.

Michael Valente: I spent my career as a general contractor and licensed Realtor™ completing more than 500 client construction projects, working with luxury designers, and buying and selling my own properties. My team and I were working with some really high-end projects and designers, and with that comes a lot more details and a lot more problems. I was tired of dealing with homeowners who were very particular about construction, and I knew there had to be a better way to perform custom rehab work.

I realized that no one was offering professional renovation services for the residential, pre-sale market and knew I could easily do that. As a business-oriented person, I sat down and came up with a solution in November 2017. Instead of focusing on big projects with smaller returns, the focus would be on quality renovations executed with speed at an approachable cost. The results would match what today's buyers are looking for online. And most importantly, we would help listings sell quickly and maximize the homeowner’s equity. Within two months, we got general contractor and friend John Bura and interior designer Briana Gershenzon to join the team. The only thing missing was a name. After putting our son down for a nap and getting some quiet time to think, my wife Amanda came up with “Renovation Sells.” 

Since 2018, we’ve renovated over 170 homes (and counting) with an average price of $20,000 per project. We provide a pivotal service for real estate agents and sellers in Chicago and are now looking to expand in markets across the country through franchising. 

1851: What makes Renovation Sells different in the industry?

Michael Valente: Our team puts emphasis on design and delivers the look that makes the best first impression with buyers, both online and in person. We handle everything so homeowners and real estate agents don't have to, including the on-trend design, materials and construction. Together, we identify upgrades with the most return, finalize the concept to fit the budget and can complete the project in as quickly as 21 days. We are turn-key — you hand us the keys and we return them when the home is finished. 

Construction fatigue  is also a real thing. When clients get fatigued, everyone starts to get frustrated and home remodelers and contractors can get a bad reputation. Our business eliminates these challenges by reducing construction time, designing for future buyers, not the homeowners themselves and working in vacant homes. A majority of the time, when Renovation Sells comes in, the homeowners have already moved out leaving an empty home to work with.

For real estate agents , success is about moving a home at the right price as fast as possible. We are their trusted partners that help make this happen and a resource they can lean on.

We’ve been refining the business model for three years now. The average-size home listing is $600,000, and the average project cost is $20,000. In Renovation Sells’ first year, its clients homes sold at an average of 98% of the asking price. In 2019, as word spread, the company saw a whopping 310% increase in sales. Our all-in-one model streamlines our service and makes us more efficient. That is why we get the job over other companies the majority of the time.

1851: Why is Renovation Sells a strong investment for franchisees? 

Michael Valente: What we do works anywhere and everywhere. Every home in America built five years ago needs pre-sale renovations before listing in order to appeal to today's buyer. The Renovation Sells brand, process and expert design will make franchisees successful in both the short- and long-term.

The field of general contracting is wildly crowded, and it is important to differentiate yourself. That is the main appeal of Renovation Sells franchise ownership — prospects aren’t just another contractor; they are professionals who help the real estate agent and the homeowner. Also, franchisees benefit from referrals and a network of clients who choose us over anyone else. 

In addition, every national real estate brokerage is moving towards supporting their agents with pre-sale renovations (either selecting preferred contractors, or paying for renovations out of the brokerage). We are already here working and others are just getting started on this emerging industry.

Our primary goal has always been to make sure our properties look good online, which has become even more critical due to COVID-19. We are also at the beginning of a massive shift in the real estate industry. Millennials have become the largest buyer pool and now Baby Boomers are the primary sellers. But, as millennials come of age and start buying homes, they’re looking at properties that haven’t been updated in 25 years. There is a large disconnect between what millennials want and what boomers are selling, which means the timing is perfect for us. 

1851: What makes an ideal franchisee?

Michael Valente: Our ideal franchisee is hungry, relationship-driven and willing to go all in with us. We want hard-working, dedicated people at the core. The design is only as good as the person who is servicing it.

Ideally, we want someone who has a construction or real estate background. More importantly, we are looking for prospects with a track record of success in project management. We are also looking for someone who can network, build relationships and be a trusted individual in the community. Many of our ideal franchisees want what a franchise offers, including more income potential and job security.

1851: How does the Renovation Sells brand train and support franchisees? 

Michael Valente: Our team is dedicated to making sure franchisees are positioned for success, which includes help with training, staffing, marketing and more. We help franchisees find the subcontractors and team they need to fulfill the design coming from corporate. Franchisees also have access to our marketing toolkit which focuses on social media, because it is a great way to get in front of real estate agents. The local market publications also bring in a lot of great leads and we work to ensure that franchisees are well-positioned on the PR front.

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