Renovation Sells INFO
A Brand is Born
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.
How Renovation Sells Works
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homes in three years for an average of $20K per project, Renovation Sells has identified the gap in the marketplace of outdated homes on the market not matching the preferences of millennial buyers and crafted a solution that will translate in all markets.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.
Renovation Sells in Action
Why Renovation Sells
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.
How Much Does It Cost?
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.
Why is Now the Time to Invest?
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.