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Renovation Sells Franchise Costs $79K – $171K (+ 2024 Profits)

Renovation Sells is a company that specializes in quick, cost-effective home renovations to boost property sales. Founded in 2018 by Michael Valente, it began franchising the same year to spread its unique approach to enhancing homes for sale. The company focuses on minor, impactful updates to speed up sales and improve online property listings.

Headquartered in Chicago, Illinois, the company offers a full-service package that includes designing, sourcing materials, and completing renovations, typically within 21 days. This approach helps real estate agents and sellers quickly increase property appeal and market value with minimal disruption.

Renovation Sells extensively supports its franchisees, providing a business model with low overhead costs and substantial operational support. This includes training in project management, design, and customer relations, positioning franchisees for success in a competitive real estate market.

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Initial investment

Type of ExpenditureAmount
Initial Franchise Fee$50,000 – $120,000
Initial Training Fee$5,500
Your Training Expenses$1,500 – $3,000
Rent Deposits$0 – $1,500
Utility Deposits$0 – $500
Signage$200 – $500
Office Furniture, Fixtures, Equipment and Supplies$0 – $350
Licenses and Permits$550 – $1,100
Computer Systems$555 – $4,034
Vehicle$0 – $1,000
Membership/Association Dues$300 – $1,000
Professional Fees$3,400 – $6,000
Grand Opening Advertising$9,000
Insurance$3,000 – $5,000
Operating Expenses / Additional Funds – 3 months$5,000 – $13,000
TOTAL$79,000 – $171,000

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Franchise fees & Royalties

Initial Franchise Fee

When you sign the Franchise Agreement, you will pay an Initial Franchise Fee, which depends on the number of territories purchased. The fee ranges from $50,000 for one territory to $120,000 for three territories. This fee is non-refundable.

Royalty Fee

You are required to pay a Royalty Fee of 7% of your Gross Revenues. This payment is made weekly via ACH for the sales of the prior week.

Brand Development Fund Contribution

A contribution of 1% of Gross Revenues, which may increase to 2%, is also due weekly. This payment supports brand development activities.

Required Minimum Expenditure for Local Marketing and Advertising

For the first year, a minimum marketing expenditure of $2,000 per month is mandatory for your first territory. From the thirteenth month, an additional $1,000 per month per additional territory is required.

Technology Fee

A monthly Technology Fee of $125 is payable to support various technological services, including web hosting and franchise management tools.

Late Charge and Interest Charge

If payments are late, a Late Charge of $75 may apply, along with an Interest Charge of 1.5% per month or the maximum allowed by law, whichever is lower.

Transfer Fee

A Transfer Fee of $5,000 per territory applies upon the transfer of a franchise, except under specific conditions, such as transfer to a spouse, parent, or child upon death or permanent disability, where no fee applies.

Find the most profitable franchises

Access the (only) database of franchise profit stats. For franchisees, franchise brokers and investors.

✅ Download Franchise Disclosure Documents

✅ Compare turnover, investment, profits and more

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How to apply

1. Research the Market

  • Assess local demand for home renovation and staging services.
  • Identify potential competition and market gaps that Renovation Sells could fill.

2. Review the Franchise Disclosure Document (FDD)

  • Thoroughly examine the FDD provided by Renovation Sells for legal, financial, and operational details.
  • Consider consulting with a franchise attorney to understand obligations and rights.

3. Secure Financing

  • Estimate the total investment required, including franchise fees, equipment, and initial working capital.
  • Explore financing options such as loans, investors, or personal savings.

4. Choose a Suitable Location

  • Select a location based on market research that supports the demand for renovation and real estate services.
  • Consider factors like visibility, accessibility, and local zoning laws.

5. Complete Training Programs

  • Participate in all training programs offered by Renovation Sells to understand their business model, services, and operational practices.
  • Utilize ongoing support and training to stay updated on trends and techniques.

6. Obtain Necessary Licenses and Permits

  • Apply for any local, state, or federal licenses required to operate a home renovation business.
  • Ensure compliance with all regulations pertaining to construction, safety, and employment.

7. Set Up Business Operations

  • Establish your business structure and set up accounting systems.
  • Hire skilled staff, including contractors and administrative personnel, to ensure quality service delivery.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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