HomeVestors Earns Accolades as it Marks 25 Years of Buying Ugly Houses
DALLAS--(BUSINESS WIRE)--Sep 8, 2021--
HomeVestors has been ranked third in the first-ever list of Top Part-Time Franchises from Entrepreneur, marking the company’s significant impact on the franchise industry over 25 years of buying ugly houses. One of the early pioneers in the professional real estate investor industry, the We Buy Ugly Houses® company today drives local revitalization in 176 markets nationwide. The company’s more than 1,150 independently owned and operated HomeVestors® franchises, which include both full- and part-time professionals, were responsible for $1.4 billion in sales last year alone, proving how well they weather both good and bad markets.
Before “Fixer Upper®” and the Wall Street-backed iBuyers, HomeVestors was recruiting and training its franchises to recognize the potential in houses traditional buyers might not consider. The model not only gave sellers more options, especially in the case of distressed properties, but it also drove the reintroduction of valuable real estate assets to neighborhoods, helping support revitalization and an affordable housing supply.
“Some in the industry talk about house flipping, but we don’t like to think of what we do in those terms because our franchises take a deeper approach, helping make homes that will be loved for years to come,” said David Hicks, CEO of HomeVestors. “When we started, not a lot of people recognized the latent potential sitting in neighborhoods nationwide that some elbow grease couldn’t fix. Today, we’re proud of the legacy we’ve built through our franchisees, some of whom have been with us since we started franchising in 1996.”
To qualify for the Entrepreneur ranking, HomeVestors had to indicate that a franchisee owner-operator could run their independent business on a part-time basis, using less than 40 hours a week. Qualifying companies were then ranked based on how they scored when run through Entrepreneur’s Franchise 500 formula, which evaluates franchise opportunities based on 150-plus data points like costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
“Not every business has to consume your life,” said Jason Feifer, editor-in-chief of Entrepreneur. “To prove that point, we’re excited to showcase the top franchises that fit neatly into a flexible lifestyle. If you’re looking for the thrill and benefits of independent business ownership but are also juggling other obligations in your life, this list is a perfect place to start.”
More than 80 percent of houses HomeVestors franchisees purchase are less than 1,400-square feet and were built before 1980. Franchises then generally rehab and sell the homes, a key benefit with the current housing shortage, or hold them as investment properties. HomeVestors was also recently named to the Inc. 5000 list of the fastest-growing private companies in America.
About HomeVestors of America, Inc.
Dallas-based HomeVestors of America, Inc. is the largest professional house buying franchise in the U.S. with more than 110,000 houses bought since 1996. HomeVestors recruits, trains and supports its more than 1,150 independently owned and operated HomeVestors® franchisees that specialize in building businesses based on buying, rehabbing, selling, and holding residential properties. Most commonly known as the ” We Buy Ugly Houses ® ” company, HomeVestors strives to make a positive impact in each of its 176 markets. The company ranked on the 2021 Inc. 5000, has appeared for 12 consecutive years on the prestigious Franchise Business Review’s “Top Franchises”, for nine years on the annual Dallas 100, and ranked 94 th on the 2020 Franchise Times Top 200 Franchise Chains by Worldwide Sales. HomeVestors has also been regularly recognized by Entrepreneur Magazine, which most recently ranked it 16th “Top Growth Franchise”, named it as one of the top 200 franchises of 2020, and placed it at number 36 on its annual Franchise 500. For more information, visit www.HomeVestors.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210908005828/en/
Ariel Herr,firstname.lastname@example.org, 469.235.2708
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSUMER OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE SMALL BUSINESS CONSTRUCTION & PROPERTY RETAIL OTHER PROFESSIONAL SERVICES OTHER CONSUMER URBAN PLANNING REIT INTERIOR DESIGN HOME GOODS
Copyright Business Wire 2021.
PUB: 09/08/2021 11:00 AM/DISC: 09/08/2021 11:01 AM