For all common questions, check below. If you have a specific renovation question, please feel free to contact us.
How is Renovare different to other franchise systems?
The number one thing that makes Renovare different is our background as a franchise. We know what it feels like to be a franchise and that understanding affects everything we do.
Rather than accept the status quo James Stroud first created his own building company in 2011. A few years later he used this as a template for re-envisioning the way new home building franchising should be done. James could also see the huge opportunity in the renovation market so teamed up with Jeff Thompson the founder of Smith & Sons Renovations & Extensions Qld. With James’ highly successful home building franchising model and Jeff’s experience in the renovation franchising space, they have what it takes to help franchisees create highly responsive and profitable renovation businesses.
There’s plenty of reasons why owning a Renovare franchise makes good business sense but here are some main points:
The Renovare franchise fee structure keeps more money in your pocket and encourages the franchisor to give you every support you need.
Our business philosophy and culture will encourage you to be innovative and agile. You will become a better business person.
A Renovare franchise provides a successful business model with a proven ability to sustain years of massive growth. It is an extremely efficient, cost-effective, well-organised, full-service platform for your building firm.
What is the initial investment?
Because we know what it feels like to be a start-up franchise, we’ve kept our entry costs low. Let’s break the initial investment into three parts:
Working capital– we think you should have working capital that equals 5% of the total contract value of your current renovation projects. This is not an expense, rather capital you’ll need to have access to in order to safely operate your business.
Startup package– a well-planned startup package means you keep more in your bank for working capital! Upfront costs are 38k plus a 5k Grand Opening advertising allowance. This is an “at cost” package that includes: – A new laptop (always start a new business with a new computer) – Initial setup of the Renovare software system. – Training and travel allowance – Uniforms, stationary and marketing items to help set up your office
Sales Venue– our builders will at some point require a shopfront. We usually keep fit-out costs surprisingly low because our suppliers support us by providing most of the fit-out materials at no cost, and we have been successful at negotiating “rent-free periods”.
To learn more about the initial investment, we recommend you book a business planning meeting with us where you will be able to learn:
How Renovare builders are able to fund the startup of their business (Tip: Most builders don’t have their startup capital sitting in a bank account)
What the typical first year in business looks like.
How many jobs you have to win.
About how to project when you will get your money back and start to make money.
Other miscellaneous costs you should budget for when establishing a new business may include:
Legal and Business Fees
Setup of business entity
License, registration and insurances
Travel involved in due diligence
What are the ongoing fees?
For each home renovation you build, your business will contribute 4.5% as a service fee and also a 1% Marketing fund contribution.
A monthly service fee may apply – Contact us to find out how this works.
Whilst buying power is relative to what you already have, most builders are able to purchase materials about 6 -10% better as a Renovare builder (than as an independent operator)
Conferences are free!- no fee - (you have to cover your own travel and accommodation)
Is running a Renovare franchise a full-time job?
Think in terms of ‘running a business’ rather than a ‘full-time job’. Like any successful business, a Renovare franchise requires plenty of hard work and commitment, especially during its early years. You will be supported every step of the way but in the end, it comes down to how much you put into the business that will determine its success.
What we can tell you is that as your business grows and you make full use of the systems and expertise contained in the Renovare group, you will be able to step back from the business and have greater time to enjoy the rewards.
Is training provided?
Yes! In many ways. Let’s count them:
You’ll have access to Jeff Thompson and his team who has close to 10 years’ experience in the building franchising industry. Jeff’s actively involved in the Renovare business on a day to day basis and ensures that you regularly benefit from his years of building franchise experience.
Business coaches are great right, but if they are so good at running a building company - why aren’t they in business? At Renovare, you’ve got easy access to a group of builders who are using the same software and business systems as you and they are keen to share their learnings.
Our resource library includes screencasts that make it easy to learn to use the software and our head office team can provide on-screen support to keep you moving when you are still learning the systems.
Our quarterly franchise conferences provide a great opportunity for formal and informal learning. As a new franchisee, you can start attending these events once you have signed on to Renovare.
What areas are available?
We have a few key areas available throughout Australia. Find the exact locations of renovation franchise, however, we customise and finalise the location with the builder to make sure it suits the preference of the builder we work with. Once we know what area you are interested in then we can confirm availability.
Do I get access to an exclusive territory?
Yes. Renovare has researched the building statistics and demographics Australia-wide and has come up with territories that provide the maximum opportunities for all. We can customise and finalise the location with the builder if required to make sure it suits the preference of the builder we work with. You can learn more about our territories here: Renovare Franchises for Sale.
How does the supply chain work – am I able to choose my suppliers?
Renovare builders have full flexibility to use the best suppliers and subbies.
Our builders DO NOT purchase materials through the franchise, rather have full freedom to take advantage of Renovare pre-existing supplier agreements when it is beneficial for them.
Renovare’s reputation means we buy materials at 3-10% better than some builders
Call us now to find out how Renovare buying power and procurement agreements can turbocharge your business.
Do I need a builder’s license?
Yes, the business must have a builder who is licensed to carry out renovations in Australia.
Once I start with Renovare can I continue to work under my other business names?
We require that all your building work is conducted under the Renovare brand and you must trade under a name that reflects your region, e.g. Renovare Toowoomba.
Transition period – many of our builders are running a building related business of some type when they start their Renovare operation (other reno’s, inspections or carpentry). We work out a transition plan that allows the builder to supplement startup capital with cash flow from their previous business. As the Renovare business starts to take off, the previous business can be gradually wound down. If you’d like to see how this works, request a business planning meeting where we can design a transition period.
Ongoing – some of our builders have a team of carpentry or bricklaying subcontractors who are relatively self-sufficient (leading hands are trained and run the show on their own). They’ve continued their businesses running alongside Renovare because it is easy cash flow and helps ensure trade availability. If we think your business is going to be too distracting or time-consuming to allow you to effectively run your Renovare business, then it won’t work out to run both sides– either in the transition period or ongoing. Rest assured that, because of our background as a franchise - you’ll find, we take a common sense approach.
Do I have to set up an office?
Yes, you will need a location from which to run your business. This is usually a Display Centre (shopfront) but these premises don’t need to be in place on day one. The best option for you will depend on your circumstances and your Franchise Development Manager will assist you in working out the best approach.
Do I need to have a fully staffed office on day one of running a Renovare business?
No - not at the start. The Renovare franchise start-up process lets you gradually ramp up the number of staff required in line with the development of your new business. In the early stages, you will perform as many of the roles as you are able and drawing on support from the Renovare franchise support team. As you start getting deposits and projects underway, you can then need to start bringing specialist staff on board - Estimator, Accounts, Sales Consultant, Contracts Administrator and the like.
Is it just a matter of paying the relevant fees and I can get started?
Not quite. We take each franchise applicant through a selection process to make sure you and Renovare are a good fit. In this initial phase, we’ll talk more about your goals and current circumstances. To own a Renovare franchise, we firstly look for people who want to get more out of life through their business. They want to see both personal and professional growth. Later, we work through these items:
We will have a business planning meeting, where we make sure you and your partner understand the typical Renovare business plan.
We will do a discovery day where we spend time travelling around your area.
We encourage you to get in touch with some Renovare offices and speak to as many Renovare builders as possible.
You’ll visit your accountant, an independent franchise expert solicitor and a business advisor to gain a solid understanding of being in business as a franchise.
By the end of this process, you will know whether a Renovare franchise is for you.
If this sound familiar to you, visit our current franchise location for sale section.
How long does it take to set up a Renovare franchise?
This depends on several factors including your current workload/business arrangements, level of skill in establishing a new business and whether you already have office premises. To go from initial conversation to launching your Renovare business can take anywhere from one to six months, depending on the situation. We need to go through many stages including software training, selecting and fitting out an office, and setting up accounts with relevant suppliers and contractors.