Share Structure as of 12-15-2015
Authorized Shares - 900,000,000
Outstanding Shares- 236,956,977
Wisdom Homes of America, Inc. opens and operates manufactured home retail centers and is expanding into land/home packages. WOFA's revenue-generating growth model calls for expansion in the retail sector through the addition of related services and the opening of new retail centers in Texas, which sells 3x more manufactured homes than any other state. Revenue related services includes selling land/home packages, providing mortgage origination products and insurance services to homebuyers.
Push aside any stigma you have with mobile homes of the past; WOFA's manufactured homes are systematically engineered and designed with cutting-edge, computerized technology to deliver a superior level of exceptional quality, structure and affordability. Featuring wrap-around porches, vaulted ceilings, wood floors, rock fireplaces and 1,800-2,500-square-foot floor plans, today's manufactured homes are second-to-none.
Another consumer appeal is cost; buying a new, aesthetically pleasing manufactured home is often less expensive than conventional housing. In fact, cost savings are up to 60% less per square foot than conventional site-built homes. While homebuyers can choose from many of WOFA's pre-existing floor plans, they can also customize the layout of their new home to fit their lifestyle and budget. Manufactured homes are customizable in arguably more ways than stick built homes. Additionally, each home meets strict HUD standards before it is ever shipped.
The manufactured housing industry is growing. In 2014 the sales of new manufactured homes exceeded $4.1 billion up from $3.8 billion in 2013. And that number is estimated to reach $4.5 billion in 2015. The industry growth is driven by demand for quality, affordable housing. WOFA also sees an adjacent market opportunity of approximately $10 billion annually in real estate acquisition, site preparations, ancillary services, and lending and lease communities for the manufactured housing industry that requires financing capital. By offering a superior product and adding new retail center locations throughout the State of Texas, WOFA is well-positioned to capture its share of the rapidly growing manufactured home market.
- On Track to Achieve 400% Increase in FY Revenues to $4 Million
Benefitting from Vast Improvements in Manufactured Housing
Focused on Areas of Texas with Surge in Real Estate Sales
Strong Expansion Plan Calls for 30 New Locations in 5 Years
The New Standard in Home Construction
Affordability and the Building Process
"Manufactured home" is simply a designation referring to any home built in a factory after 1976 when the Department of Housing and Urban Development set forth their code for home construction. In a factory, the climate is controlled and the weather is, well, always perfect!
Factory built homes also offer employees who are trained according to the same guidelines and managed by the same employer. Theft, damage and vandalism are non-existent. Because manufactured home factories regularly produce their homes, manufacturers are able to purchase building materials on a large scale at prices at a significant discount compared to building a stick-built home. These efficiencies and savings on materials translate directly into affordability for the home buyer.
Today's manufactured homes offer homebuyers unprecedented quality:
- Higher standard of construction
Easy installation and setup
Quality and affordability
Eco-friendly and efficient
Permanently affixes to land
Over 1,000 models and variations
Systematically engineered for precision
30-year mortgages available for qualifying buyers
Quality and Safety
Manufactured homes need to be built according to the HUD code, a series of performance standards that address every aspect of a manufactured home, including heating, plumbing, air conditioning, thermal and electrical systems, structural design, construction, fire safety, energy efficiency, and even the transportation from factory to site. Inspectors ensure that all of these standards are met, along every step of the way, from design, to construction to assembly. The goal is to ensure the highest degree of safety and construction in each home. When a manufactured home leaves the factory, it does so with a "Red Seal" attached indicating that this home has passed what is arguably the most rigorous inspection process in the housing industry.
Customization and Amenities
Manufactured homes today can be shipped with top-of-the-line brand name appliances. Add-ons like fireplaces, decks and porches are also now achievable. Advances in the building process have allowed manufacturers to produce homes in a wide array of architectural styles. While homebuyers can choose from many pre-existing floor plans, they can also customize the layout of their new home to fit their budget, taste and lifestyle. Manufactured homes are customizable in ways stick-built homes are simply not capable of.
Eco-Friendly and Energy Efficient
Sustainability is increasingly becoming the trend with manufacturers today who have a vested interest in being able to offer eco-friendly and energy-efficient homes to their customers. Building a manufactured home can yield up to 90% less waste than a stick-built home. Again, this comes back to the efficiency of factory construction. The use of low to zero VOC paints is better for the environment. Components like double flush toilets and low flow faucets cut on energy costs. Insulated walls mean less usage of temperature controlling devices which substantially reduces your carbon footprint. Today's manufactured homes can be constructed with modern green practices in mind such as rainwater harvesting and grey water systems. These features serve to reduce environmental impact and contribute to the sustainability of the industry.
Technology has driven design forward and further improved the quality of manufactured homes in a streamlined, proficient way that makes this type of housing affordable, safe, custom and environmentally sustainable. These are the primary principles behind the industry and why more and more people are turning to manufactured homes.
Manufactured Housing Market
A fresh look at the multi-billion dollar manufactured housing market
The number of homebuyers purchasing manufactured homes since 2010 is increasing roughly 10% per year. As of 2014 there was about 62,000 manufactured homebuyers in the U.S. According to the Manufactured Housing Institute (MHI), sales in the manufactured housing industry exceeded $4 billion annually. Growing demand for manufactured homes is being driven by the need for quality, affordable housing. Today's manufactured homes deliver outstanding quality, design and performance at prices ranging from up to 60% less per square foot than conventional site-built homes.
Additionally, there is an adjacent market of approximately $3 billion-$4 billion annually in real estate acquisition, site preparations, ancillary services, and lending and lease communities for the manufactured housing industry that requires financing capital. Manufactured homes offer a viable solution.
The benefits of manufactured housing are clear, and present WOFA with incredible market potential. Manufactured homes are of the highest quality, fully customizable and built according to a stringent code that guarantees safety, energy-efficiency and environmental-sensitivity.
Financial Performance, Revenue Drivers
Strong Full-Year Projections Backed by Solid Monthly Sales
WOFA is on track to achieve revenues of $4 million for full-year 2015, an increase of 400% over $0.9 million in revenues reported for full-year 2014, the company's first full year of operations. Strong monthly sales bucking adverse weather conditions in Texas have set the pace for continued growth.
Driving this growth is an increasingly recognizable brand and the infancy of referral business. Moving forward, the company says it plans to continue this momentum position its new retail centers near manufactured home subdivisions and communities and take advantage of sales opportunities in those new developments.
This growth strategy specifically calls for the opening of 30 manufactured home retail centers over the next five years, located in close proximity to areas where WOFA is able to acquire a large number of available lots for land/home purchase deals, or near existing subdivisions that the company will either purchase or is affiliated with.
The company's new retail center in Sherman, Texas, just north of the Dallas metroplex, will provide WOFA the opportunity to sell manufactured homes directly to the homebuyer as well as to its Sherman subdivision. The Sherman-Denison metro area was reported as the fastest growing region in U.S., with 33% growth in the first quarter of 2015. WOFA has secured the rights to purchase and improve 26 lots in Sherman, Texas with the necessary infrastructure – water, sewer, power, pad, foundation and driveway – and place manufactured homes for sale on those lots.
WOFA's next phase of this growth strategy is to establish an entity to provide mortgage origination services, allowing the company to become further vertically integrated with its core business of providing manufactured homes, homes affixed on lots and insurance products.
"We are selling into a very strong market, where demand is strong and the need for affordable housing is even stronger. By delivering a high quality, yet low cost manufactured housing product on our improved lots, we believe the company will be very successful while also satisfying this pressing need. We believe the land-home package model that Wisdom Homes is creating will be successful and we anticipate being able to duplicate that model as we continue to grow."
– WOFA CEO Jim Pakulis
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