Wisdom Homes of America, Inc. (WOFA)
Wisdom Homes of America, Inc. (WOFA) 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.