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Associate Franchise offers a smaller scale, part-time opportunity with HVA; Development Agent role created to support associates and provide greater opportunity to full-service franchisees
By Leah Templeton
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| Leah Templeton |
HVA has stepped up its development model by launching the Associate Franchise and Development Agent programs and already some 30 full-service HVA franchisees have completed a request for consideration for the Development Agent opportunity that was officially announced at the Leadership Invitational. And almost as soon as we posted information on our Web site about the new Associate Franchise program, we attracted applicants! The first of those will be presented to the Approval Committee this week.
Associate franchises will be awarded across the country to people interested in residential real estate investing on a a part-time basis. In conjunction with the program, current franchisees can apply to be Development Agents and assist new franchisees.
The Associate Franchise (AF) program is a low-cost, home-based franchise opportunity designed to appeal to those who are already employed but want to be real estate investors under the HVA brand. The program allows potential franchisees to experience the benefits of joining a national brand, but at a fraction of the investment cost
Both opportunities are available to existing franchisees, as well as former franchisees. The initial requirement is that the applicant must be in good standing with HVA.
In support of the new program, HVA created the Development Agent (DA) role to aid Associate Franchisees. HomeVestors franchisees with a successful track record can apply for Development Agent status. In addition to being franchisees, Development Agents will act as consultants. They generate revenue by recruiting, training and supporting Associate Franchisees.
“Dozens of existing and new franchisees will be attracted to the Development Agent opportunity because it allows them to mentor other investors and get paid for doing so,” said John Hayes, president and CEO of HVA. “Plus, the DA program broadens the reach into a franchisee's market. In most cases, our franchisees cannot possibly service all of their territories, but now they can with the help of additional investors who become associate franchisees. I think we've put together the most exciting program in real estate investing --now you can earn money as a franchisee who buys and sells houses, and also earn money as a franchisee who teaches others how to emulate your success. We’re planning to expand our network to 5,000 franchisees in five years as a result of these programs.”
Associate Franchisees will pay a $12,000 franchise fee. They can operate out of their homes, or their DA’s office, and they do not need to build a team. Full-service franchisees that are DAs will continue to operate from an office and cultivate a team. AFs receive one week of training at UG University in Dallas and then get additional local training for their DA.
“For years people have been asking us if they can be part of our franchise network without buying a full-service franchise,” said Hayes. “Many investors only want to buy a small number of houses each year and so it has never made sense for them to open an office, build a team and work under our quota system. Now we have a way to include these people in our network. Now you can keep your job, if that's what you want to do, and also utilize the HVA system to buy, sell and hold real estate. It's low-cost, it provides local, hands-on mentoring by a seasoned franchisee, and it provides all the attributes and benefits of a nationally recognized brand name franchise. Many more people will now qualify for a HVA franchise opportunity.”
The AF program was recently mentioned in a Wall Street Journal article titled “Companies Offer Innovative Incentives To Lure Franchisees as Competition Grows.” Go to the HVA In the News Web page to read more.
…Leah Templeton is an account executive with BizCom Associates, HVA's public relations agency.
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