Home-buying franchise business HomeVestors has made the Fastest-Growing Franchises list from Entrepreneur Magazine once again, this time jumping up in rank to position 20. The biggest professional home buying franchise, this brand added more than 200 franchisees in just 2017 alone. This highly competitive annual list draws from entries on the magazine's famous Franchise 500 ranking. For 2018, it was based on the number of new units added in Canada and the US between July 2016 and July 2017.
Brand CEO David Hicks said the last year really spoke to the franchise brand's successful mode. During this growth boom, a franchise also bought the company's 85,000th property since it began franchising back in 1996. Hicks added that the company's success reflects on those who have taken advantage of one of its franchise opportunities over the years and the improvements the company has brought to neighborhoods in North America by buying homes in need of repair and giving them new life.
Currently, franchisees with this brand are active across 152 US markets and buy and improve around 8,000 houses annually. The growth trend appears to be continuing for 2018, and franchise opportunities are available in several markets. The franchise fee ranges from $18,000 to $55,000, and the initial investment runs from $44,000 to $347,250.