Restoration 1 Release – 11.4
From Employee to Owner
Andor Kovacs, CEO of Restoration 1, a property restoration brand specializing in repairing damage from water, fire, smoke and mold, is helping employees become entrepreneurs.
The startup costs for Restoration 1, including the $35,000 franchise fee, are competitive for the building restoration industry; however, because Kovacs is so passionate about helping the right entrepreneurs succeed, Restoration 1 offers special financing to qualified franchise candidates, allowing them to get started with a $20,000 franchise fee and partnership with another established franchisee. Those operators then split profits with the franchise partner until they have an opportunity to buy out that partner’s stake.
Fostering that kind of entrepreneurship matters personally to Kovacs, who has started several businesses in his young career, from a liquor-distilling business in his native Hungary in his 20s to a car export business in South Florida. He also started a predecessor company to Restoration 1 with a friend from Hungary, funding it with more than $120,000 on credit cards. But that “friend” went on to force Kovacs out of the first company, causing him to lose his house and property.
Not to be deterred, Kovacs responded to this betrayal by registering the Restoration 1 trademark and boot-strapping another restoration business with sales and operations processes that would enable immediate franchising, something his old partner strongly opposed.
Josef Nagy began working for Kovacs seven years ago and over the years developed a yearning to start his own franchise. Kovacs helped set him up and Nagy opened his first location in the spring of 2014 in Greenville, South Carolina.
“Josef has the kind of work ethic that is an asset to the organization,” said Kovacs. “We are proud to have him go from employee to franchisee and look forward to helping him grow in the Greenville market.”
Today, Restoration 1 has 22 franchise locations open in seven states and 12 units in Canada, and through the third quarter of 2014, Restoration 1 had signed agreements for nine additional locations in the United States and seven more units in Canada. Target regions for growth include California the and Texas in the United States, as well as rapidly growing economies in Western Europe and the Middle East. For more information, please visit https://www.restoration1.com/restoration-franchise/.