What is the cost to become a franchisee?
The cost is usually between $200,000 to $250,000 for the first six months of operations and is varied based on area and existing operations. Please click HERE to see our cost estimation sheet. OLO Builders charges a franchise fee and a training fee that is included in the six-month numbers. A portion of the franchise fee goes to marketing the location of franchise, as well as entering selected floorplans into the Dynamic Plan Library. Additionally, there are two weeks of training at National headquarters and ongoing training as needed.
Do you offer financing?
We have established relationships with financiers who can help you extract equity from rentals, etc. to help with startup costs
Do I need a builders license?
Yes, at least one person in your office will need a builder’s license.
What is the process to get started?
Please click HERE to see our steps to starting a new franchise or click HERE to complete the application form.
Can I only build OLO Builders home designs?
No; however, we strongly encourage our builders to use these designs because they are already part of our system and will save you time, money, energy, and improve customer satisfaction. Our system allows for custom plans, but ultimately velocity suffers. As part of a franchise fee, we will add three of your plans to the Dynamic Plan Library. New designs would be available to all franchisees. All plans have multiple elevations, so they should support market preferences and business plans.
Does a franchise come with an exclusive area?
Yes, our franchise model specifies an exclusive territory, and as the territory grows, we expect you to continue to grow with it. If you choose not to continue to grow with your territory, we have the option to bring in another franchisee in to continue the expansion.
Can I choose my own suppliers?
Yes, and it is expected. Local Partners are welcome to utilize OLO Builders national vendors and subs.
How is OLO Builders different from other franchises?
We know what it’s like to be a small homebuilder trying to maintain margins and build a business. We want our franchisees to benefit from the work we’ve already done. Homebuilding is a noble profession, and we want to keep it that way. We provide all the strategy you need to be successful and we’re behind you every step of the way. Our goal is to remove friction from the processes and provide an engine for growth, which we encourage you to leverage.
How long does it take to set up a new franchise?
This depends on a variety of factors, including your home building experience, business experience, and office arrangements. Usually it’s a few months. Check out the steps you’ll need to take HERE.
Is running an OLO Builders franchise a full-time job?
Running a business is a full-time job, but whether the Local Partner chooses to do it themselves or hire someone, it up to the owner. Running a business takes a lot of time, especially in the beginning. The work and commitment will, of course, determine success. As Local Partners utilize what they learn and implement from our systems, the franchisee will reap the rewards of their efforts!
Is training provided?
Yes! We invite each franchisee to a week of training at our national office, then the 4-person team for specific positional training for another week at our national office. Once you are up and running, we will also provide on-site trainings, as well as annual conference trainings, and monthly virtual trainings. Additionally, partners have access to the network of franchisees that are available for help and advice. Help is always a phone call or email away.
Once I start, can I continue to work under my current business name?
No, you will need to use the OLO Builders name once you get started. We will work with you to determine a transition plan if needed.
What are the ongoing fees?
There is a monthly software allocation, which provides significant benefit to the franchisee. There is currently a 3.5% royalty fee for contractual revenue of each build job, additionally there is currently a 1% marketing fee that is the lead engine.
What support do I receive?
In addition to the training, partners can expect to have the national team at the ready to help when needed. Partners will also have access to the other franchisees for help, as well as monthly virtual trainings they can opt in to. Additionally, they’ll have access to our Knowledge Base system; a dynamic and ever-growing library of articles and answers from team members across our organization.
Have more questions?
We have answers!