Renovation Sells Company Profile

Background

Renovation Sells is a Chicago-based company specializing in presale home renovations. Founded in 2018, the company aims to simplify the renovation process, enabling homeowners to unlock the full potential of their properties. By focusing on cosmetic updates that appeal to modern buyers, Renovation Sells positions homes to sell faster and at higher prices.

Key Strategic Focus

The company's strategic focus centers on providing cost-effective, high-impact cosmetic renovations tailored to the real estate market. By collaborating closely with real estate agents and homeowners, Renovation Sells ensures that each project aligns with current market demands. Their services include design, construction, and financing, all streamlined to deliver results within a few weeks.

Financials and Funding

Renovation Sells has experienced significant growth since its inception. As of 2023, the company reported estimated annual revenues of approximately $26.1 million, with a revenue per employee of $290,000. In June 2020, the company secured a $150,000 debt financing round to support its expansion efforts.

Pipeline Development

The company has rapidly expanded its franchise network. By March 2023, Renovation Sells had grown from a single location in Chicago to 35 locations across 20 states within 18 months. This growth trajectory indicates a strong demand for their services and a scalable business model.

Technological Platform and Innovation

Renovation Sells leverages a robust technological infrastructure to enhance its operations and customer engagement. The company utilizes tools such as HubSpot Analytics, Google Analytics, and Facebook Pixel to gain valuable insights for targeted digital marketing campaigns. This data-driven approach allows for optimized lead generation and improved customer experiences.

Leadership Team

Michael Valente: Co-Founder & Chief Executive Officer. With a background in general contracting and real estate, Michael has overseen over 500 construction projects and brings extensive industry experience to the company.

Amanda Valente: Co-Founder & Chief Operating Officer. Amanda plays a pivotal role in the company's operations, ensuring seamless execution of projects and maintaining high standards of service delivery.

Briana Gershenzon: Co-Founder, Chief of Design & Partner. Briana leads the design team, focusing on creating market-specific, cosmetic renovations that appeal to contemporary buyers.

John Bura: Chief Construction Officer. John oversees the construction aspects of the business, ensuring projects are completed on time and within budget.

Leadership Changes

As of the latest available information, there have been no significant recent changes or appointments within the company's leadership team.

Competitor Profile

Market Insights and Dynamics

The home renovation industry is a substantial market, with U.S. existing home sales reaching their highest levels since 2006. This growth is driven by increasing demand for move-in ready homes, particularly among millennial buyers who prioritize modern, updated properties.

Competitor Analysis

Key competitors in the presale renovation sector include:

Curbio: A venture capital-backed company based in Potomac, MD, specializing in presale home renovations.

Freemodel: Another venture capital-backed firm located in Burlingame, CA, offering similar services in the home renovation space.

Revive HQ: Based in Irvine, CA, Revive HQ focuses on presale renovations to enhance property value and marketability.

Strategic Collaborations and Partnerships

Renovation Sells has partnered with First National Bank of Omaha to offer financing options for presale renovations. This collaboration allows homeowners to finance up to $80,000 for their projects, with no payments or interest for six months after project completion.

Operational Insights

The company's franchise model emphasizes local ownership, enabling franchisees to leverage their community knowledge and relationships. This approach ensures personalized service and fosters trust among clients. The streamlined process, combining design, construction, and financing, differentiates Renovation Sells from traditional renovation companies by offering faster turnaround times and cost-effective solutions.

Strategic Opportunities and Future Directions

Renovation Sells plans to continue its national expansion through franchising, aiming to establish a presence in communities across the country by 2025. The company's focus on providing in-demand services with little competition positions it well for sustained growth. Additionally, the low initial investment and support provided to franchisees make it an attractive opportunity for entrepreneurs.