Last edited 3:02 p.m., Nov. 7, 2012Richmond, Va.-based Outdoor Living Brands has purchased Wood Re New, an exterior wood-cleaning franchise founded in Springfield in 1993.
Outdoor Living Brands also operates three other franchise businesses: Archadeck, which builds decks; Mosquito Squad, which provides mosquito and tick control; and Outdoor Lighting Perspectives, which performs landscape lighting design, installation and service.
With the purchase - which closed with founder Stan Krempgres last month for an undisclosed amount - Wood Re New has been rebranded as Renew Crew. The company began franchising in 2002 and now has 24 franchise locations in 12 states, according to a news release.
"We sought them out and have been working collaboratively for more than a year now to broaden the business model," Krempges said, noting access to additional products for Renew Crew franchisees to eliminate the dirt, grime and mold often associated with weathered outdoor surfaces.
Krempges and his two employees have been retained by Outdoor Living Brands, with Krempges leading Renew Crew. With the acquisition, Renew Crew franchisees are being trained to perform additional services such as cleaning and protecting patios, walkways, aluminum and stucco siding, brick and driveways for homes and commercial properties.
"This company is an excellent strategic fit with Outdoor Living Brands' focus on franchising low-investment concepts that assist similar clients to enjoy an active, outdoor living-focused lifestyle," Outdoor Living Brands Chairman and CEO Chris Grandpre said in the release. "Not only is this new brand a strong franchise concept with a proven business model, but it is easily trainable and scalable in the field, and most importantly, provides a high-margin, recurring revenue stream for its franchisees."
According to
RenewCrewFranchise.com, franchisors are expected to spend between $27,300 and $63,625 to start, including a $19,500 franchise fee.[[In-content Ad]]
