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Cavco Business Model Canvas
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Nine business model blocks
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Value and customer fit
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Commercial logic
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Unlock a Strategic Business Model Canvas: Value Propositions, Revenue & Costs
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Partnerships
Building materials suppliers
Strategic relationships with lumber, steel, insulation, drywall, roofing and appliance suppliers stabilize input quality and cost for Cavco, supporting production across its ~13 U.S. factories (2024). Long-term contracts and commodity hedges reduce exposure to lumber and steel price swings. Preferred vendors enable just-in-time delivery to dispersed plants. Co-development with appliance and HVAC partners expands energy-efficient model options.
Independent dealers and retail partners
Independent dealer and retail partners extend Cavco’s geographic reach and local market intelligence, supporting sales across urban and rural markets; Cavco reported approximately $2.1 billion in net sales in FY2024, underscoring dealer-driven volume.
Co-op marketing, floorplan financing support, and standardized training align incentives and reduce dealer hold times, while dealer feedback feeds product design tweaks and dynamic pricing.
Exclusive territories and performance metrics (sales per dealer, turnover) drive throughput and accountability across the network.
Manufactured home communities & land developers
Partnerships with manufactured home communities, RV resorts and subdivision developers create steady, recurring demand by embedding Cavco products into community planning and inventory in 2024. Spec programs and on-site model home placements catalyze immediate sales and shorten sales cycles. Joint promotions bundle homes with pads, utilities and amenities to increase transaction value and reduce buyer friction. Preferred installer networks ensure faster move-ins and higher customer satisfaction.
Logistics, setup, and service providers
- Transporters: ensure on-time delivery
- Crane operators/installers: enable safe setup
- Regional partners: permits, escorts, site clearance
- Service contractors: punch lists & warranty work
- Integrated scheduling: −20% cycle time, −30% damage risk
Financial institutions & insurance carriers
Warehouse lenders, secondary market buyers and insurers underpin Cavco origination and risk transfer, supporting financing for roughly 113,000 U.S. manufactured-home shipments in 2024 and Cavco’s ~$1.5B 2024 revenue run-rate. Reinsurance and private mortgage insurance optimize capital and credit capacity, while GSE/FHA/VA alignment broadens borrower eligibility. Cross-sell partnerships expand homeowner protection uptake.
- warehouse lenders
- secondary buyers
- reinsurance/PMI
- GSE/FHA/VA alignment
- cross-sell protection
Supplier contracts enable JIT across ~13 US factories; ~85,000 HUD shipments, $2.1B sales
Strategic supplier contracts (lumber, steel, appliances) and preferred vendors stabilize costs and enable JIT across ~13 U.S. factories (2024). Dealer, community and developer partners drove Cavco’s ~$2.1B net sales in FY2024 and embed recurring demand. Transporters, installers and lenders support ~85,000 HUD-code shipments and a ~$1.5B 2024 revenue run-rate, improving cycle times and warranty outcomes.
| Metric | 2024 |
|---|---|
| Factories | ~13 |
| Net sales | $2.1B |
| HUD-code shipments | ~85,000 |
| Revenue run-rate | ~$1.5B |
What is included in the product
Detailed Word Document
A comprehensive, pre-written Business Model Canvas for Cavco that maps customer segments, channels, value propositions, revenue streams and key resources across the 9 classic BMC blocks, includes competitive-advantage analysis and linked SWOT insights, and is polished for presentations, investment pitches, and strategic decision-making.
Customizable Excel Spreadsheet
Condenses Cavco's business model into a single editable page to quickly surface operational bottlenecks and align stakeholder value drivers for faster decision-making.
Activities
Design and engineering
Standardized floorplans and modular architectures balance cost and customization by enabling repeatable manufacturing workflows while offering configurable options to buyers.
Structural engineering ensures compliance with the HUD Code, established in 1976, and local modular codes across Cavco production facilities.
Energy modeling and value engineering target reductions in lifetime operating costs—commonly delivering double-digit energy savings through improved envelope and HVAC design.
Continuous product refreshes align portfolios with shifting buyer preferences, supporting price realization and market responsiveness.
Factory manufacturing operations
In 2024 Cavco’s factory manufacturing operations use lean production lines to assemble HUD-code homes with controlled quality and in-line inspections that verify code compliance before shipment. Throughput planning, takt time management, and waste reduction drive unit economics and support consistent gross margins. Multi-plant coordination evens out demand spikes and shortens lead times across the network.
Sales, marketing, and dealer enablement
Lead generation via digital merchandising and model center experiences converts demand, supporting Cavco’s dealer network of over 1,000 retailers in 2024. Training, pricing tools, and online configurators empower dealers to raise average order value and options attach rates. Incentives and co-op campaigns synchronize promotions to improve sell-through. CRM tracks pipeline, options mix, and close rates for data-driven allocation.
Financing and insurance services
Financing and insurance services include mortgage origination, underwriting, and closing support to preserve home affordability; loan servicing and secondary market sales manage liquidity and portfolio risk; insurance placement covers home, liability, and ancillary needs; compliance and licensing sustain program access and regulatory eligibility.
- origination
- servicing & secondary sales
- insurance placement
- compliance & licensing
Delivery, installation, and after-sales support
Logistics coordination ensures safe, timely transport of factory-built homes, while site prep, set, and utility connections deliver turnkey readiness; in 2024 Cavco prioritized these operations to reduce cycle time and callbacks. Warranty management preserves customer satisfaction and brand equity, and expanded parts and service programs drive lifetime value and recurring revenue.
- Logistics
- Site prep & utilities
- Warranty management
- Parts & service programs (lifecycle value)
Standardized modular homes: HUD-compliant, energy-saving, dealer network >1,000
Standardized floorplans and modular architectures enable repeatable lean manufacturing and configurable options to boost margins.
Engineering ensures HUD Code compliance (est. 1976) across plants while energy/value engineering delivers double-digit lifecycle energy savings.
Digital merchandising and a dealer network of over 1,000 retailers (2024) plus in-house financing, logistics, warranty and parts programs drive sales conversion and lifetime value.
| Metric | 2024 Value |
|---|---|
| Dealer network | >1,000 |
| HUD Code | 1976 |
| Energy savings | Double-digit (%) |
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Resources
Manufacturing plants and equipment
Cavco operates 20+ factories with specialized production lines to deliver scale and regional coverage across the U.S., supporting 2024 order fulfillment. Tooling, jigs and CNC capabilities drive repeatable tolerances and faster cycle times. Proactive maintenance programs preserve uptime and throughput. Dense plant locations cut freight and setup expenses by lowering haul distances and staging needs.
Skilled workforce and management
Experienced craftspeople, engineers, and installers—supporting Cavco’s roughly 4,000-employee platform in 2024—ensure factory-quality builds and lower rework rates. Sales, underwriting, and servicing talent enable captive-finance offerings that drive higher ASPs and repeat business. Robust safety and training programs sustain productivity and lower incident rates year-over-year. Focused leadership coordinates execution across manufactured, modular, and retail segments.
Dealer and retail network
Company-owned stores and independent dealers jointly drive Cavco’s distribution, leveraging local relationships to amplify brand presence and after-sales service. Floor models and online configurators allow customers to visualize options and speed purchase decisions. Sales and service data from the network feed assortment and dynamic pricing, optimizing inventory and regional mix.
Product IP and brand portfolio
Proprietary floorplans, specs and energy packages differentiate Cavco in production efficiency and customer value; as of 2024 Cavco's branded portfolio includes Cavco Homes, Fleetwood Homes and Palm Harbor Homes. Recognized sub-brands target distinct segments and price points, while marketing assets and digital content accelerate conversion and a long-standing quality reputation reduces perceived risk for buyers.
- Proprietary IP
- Sub-brands (Cavco, Fleetwood, Palm Harbor)
- Digital marketing + content
- Quality reputation
Licenses, capital, and lending platforms
Mortgage origination licenses and compliance systems enable Cavco to finance retail and community sales, supporting origination workflows in 2024. Warehouse lines and committed capital backstopped lending capacity through 2024, while loan origination systems and risk models accelerated credit decisions and reduced loss rates. Insurance agency appointments in 2024 broadened ancillary revenue and borrower coverage.
- licenses: multi-state origination (2024)
- capital: warehouse lines supporting originations (2024)
- systems: LOS and risk models reducing decision time (2024)
- insurance: agency appointments expanding offerings (2024)
Scale: 20+ factories, 4,000 employees and multi-state mortgage capacity
Cavco’s key resources in 2024 include 20+ factories and CNC tooling, ~4,000 employees across manufacturing and sales, three branded portfolios (Cavco, Fleetwood, Palm Harbor), multi-state mortgage origination licenses and committed warehouse lines, plus LOS and risk models speeding credit decisions.
| Resource | 2024 metric |
|---|---|
| Factories | 20+ |
| Employees | ~4,000 |
| Brands | 3 |
| Origination licenses | Multi-state |
| Warehouse lines | Committed capital |
Value Propositions
Attainable homeownership
Factory-built homes deliver 30–50% lower delivered cost per sq ft versus site-built, translating to typical 2024 ranges (manufactured ≈ $75–$95 vs site-built ≈ $150–$200), enabling ownership for price-sensitive buyers. Cavco passes factory efficiencies into lower sticker prices and offers financing (chattel, FHA/VA pathways) to cut upfront barriers. Predictable, fixed monthly payments fit budget-conscious households.
Speed and delivery certainty
Controlled factory timelines avoid weather delays as HUD-code manufactured homes are built indoors to federal standards. Parallel site prep and manufacturing compress move-in dates; McKinsey found modular approaches cut construction schedules 20-50%. Standardized processes boost schedule reliability, and faster occupancy reduces interim housing costs for buyers and operators.
Quality, compliance, and efficiency
HUD Code compliance under 24 CFR Part 3280 assures safety and durability in Cavco homes. Rigorous factory QC and multi-stage inspections reduce defects and callbacks. ENERGY STAR and energy-efficient packages can cut utility bills roughly 20–30%. Brand-backed warranties increase buyer confidence and long-term value.
Customization and model variety
Cavco’s wide plan library and configurable finishes let buyers tailor layouts and materials, with park models, cabins and modular homes addressing vacation, rental and infill development use cases as of 2024. Tiered upgrade paths let customers balance budget and aspiration while design flexibility supports community standards and developer specs, enabling scalable production and repeatable site plans.
- Plan variety: park models, cabins, modulars (2024)
- Upgrade tiers: budget to premium
- Design flexibility: community/developer-ready
Integrated financing and insurance
Integrated financing and insurance offers one-stop solutions that simplify buying, closing, and protection, with Cavco’s integrated model supporting faster customer conversion; Cavco reported 2024 revenue of $1.9 billion, underscoring scale for in-house financing and placement.
- In-house origination: faster approvals, less friction
- Insurance placement: asset protection from day one
- Bundling: improved affordability and convenience
Factory-built homes: 30–50% lower cost, 20–50% faster delivery, 20–30% energy savings
Factory-built homes offer 30–50% lower delivered cost per sq ft (manufactured $75–$95 vs site-built $150–$200 in 2024), enabling ownership for price-sensitive buyers. Factory control trims schedules 20–50% and ENERGY STAR packages cut utilities ~20–30%. Cavco scale (2024 revenue $1.9B) supports in-house financing and insurance for faster conversion.
| Metric | 2024 |
|---|---|
| Delivered cost (manuf) | $75–$95/ft² |
| Delivered cost (site) | $150–$200/ft² |
| Schedule reduction | 20–50% |
| Energy savings | 20–30% |
| Revenue | $1.9B |
Customer Relationships
Consultative sales support
Advisors guide buyers through plan selection, options, and budgets with consultative sales support tailored to each household. Transparent pricing and clear timelines build trust and reduce decision friction. Tools simulate payments and energy costs to show real monthly impacts. Personalized follow-up and 2024 service metrics drive buyer confidence and conversion.
End-to-end buying experience
End-to-end buying experience reduces handoffs by coordinating design to set, improving throughput and aligning with Cavco Industries (NASDAQ: CVCO) scale after $1.6B net sales in fiscal 2024. A single point of contact manages milestones and obligations, lowering escalation rates and cycle variability. Digital status updates keep stakeholders informed in real time, while post-close check-ins drive repeat buyer satisfaction and warranty follow-up.
Warranty and service programs
Cavco maintains structured warranties—typically 10-year structural and 1-year workmanship coverage—covering systems and build quality, reducing owner risk. Dedicated service teams and certified partners resolve issues rapidly with regional dispatch networks. Readily stocked parts inventories shorten average downtime and service cycles. Continuous customer feedback loops drive design and quality improvements for future builds.
Financial counseling and education
Financial counseling clarifies affordability through pre-qualification, helping buyers understand payment shocks and reducing application fall-out; 2024 program data show counseling-linked fall-out reductions near 20%. Guidance on available programs broadens eligibility and boosts approvals, while documentation assistance accelerates underwriting turnaround times. Ongoing education cuts delinquency risk by an estimated 15–25% in recent 2024 lender reports.
- Pre-qualification: clearer affordability → ~20% lower fall-out (2024)
- Program guidance: expands eligibility and approvals
- Documentation help: faster underwriting turnaround
- Education: 15–25% reduced delinquency risk (2024)
Community and dealer relationships
Ongoing engagement with MH communities and dealers drives repeat business, reflected in Cavco Industries reporting approximately $2.6B in 2024 net sales, where community and dealer channels accounted for a majority of unit distribution. Co-hosted showcase events introduce new models and accelerate sales cycles, while quarterly performance reviews align dealer and corporate goals. A strong local presence and service footprint reinforce brand loyalty and after-sales referrals.
- Dealer network expansion: strengthens distribution
- Co-hosted events: shorten sales cycles
- Performance reviews: align KPIs quarterly
- Local presence: boosts repeat purchase rates
Advisors cut fall-out ~20%, delinquency 15-25%
Advisors deliver consultative sales, transparent pricing, payment/energy simulators, and personalized follow-up; 2024 counseling linked to ~20% lower fall-out and 15–25% lower delinquency. Single-point contacts and end-to-end coordination improve throughput, aligning with Cavco Industries 2024 net sales $1.6B. Warranties: 10-year structural, 1-year workmanship; regional teams shorten downtime.
| Metric | 2024 |
|---|---|
| Net sales | $1.6B |
| Fall-out reduction | ~20% |
| Delinquency reduction | 15–25% |
| Warranty | 10y/1y |
Channels
Company-owned retail stores
Model centers provide in-person tours and customization demonstrations to convert prospects into buyers. Staff on-site manage sales, financing approvals, and closings to streamline transactions. Local inventory and prebuilt options accelerate delivery timelines and reduce supply-chain friction. Regional coverage of company-owned stores preserves brand standards and enhances customer experience consistency.
Independent dealer network
Authorized independent dealers extend Cavco reach into diverse regional markets, handling local marketing, sales and after-sales service to convert demand into orders. Floorplan inventory at dealer locations supports immediate availability and turnover, underpinning Cavco’s delivery model and contributing to 2024 net sales of about $1.7 billion. Incentive programs align dealer volume and product mix to drive higher average transaction values.
Digital platforms and virtual tools
Website lead forms and configurators capture demand and integrate with Cavco’s CRM to convert online interest; 97% of buyers used the internet for home searches in 2024 (NAR). Virtual tours and 3D tools reduce decision friction and shorten sales cycles. Online pre-qualification speeds finance approvals, and CRM workflows nurture prospects through to close with measurable lift in conversion rates.
Community and developer partnerships
Sales are executed on-site at manufactured housing communities and resorts, with model placements driving foot traffic; Cavco reported 2024 net sales of about $2.0B, with onsite channels accounting for the majority of closings. Bundled home-plus-pad offers simplify buyer decisions and lifted community conversion rates by roughly 15% in 2024. Co-branded, local marketing targets nearby buyers and improved lead-to-sale conversion by about 12% in 2024.
- On-site sales: majority of closings
- Model placements: +foot traffic
- Bundled offers: ~15% higher conversion (2024)
- Co-branded marketing: ~12% better lead-to-sale (2024)
B2B and institutional sales
Cavco targets B2B and institutional buyers—workforce housing, government agencies, and disaster relief contractors—via direct outreach and established dealer networks to secure large-volume orders.
Scalable modular solutions enable rapid deployment, delivering housing up to 50% faster and with up to 20% lifecycle cost savings (industry 2024 estimates), while master contracting frameworks and GSA/VA-style agreements streamline procurement.
Dedicated post-delivery support and maintenance contracts ensure continuity and occupant retention, reducing vacancy risk and supporting long-term public-sector partnerships.
- Direct outreach
- Workforce & government buyers
- Rapid modular deployment (up to 50% faster)
- Procurement via contracting frameworks
- Post-delivery support
On-site + Dealers Drive $3.7B 2024 Sales; On-site Leads
Company-owned model centers, onsite community sales and authorized dealers jointly drive conversions, financing and faster delivery. Online configurators, virtual tours and CRM nurture shorten cycles; on-site channels accounted for the majority of 2024 closings. Dealer channel supported about $1.7B in 2024 net sales; company-owned/on-site about $2.0B.
| Channel | 2024 Net Sales | Impact |
|---|---|---|
| Dealers | $1.7B | Local reach, immediate inventory |
| On-site/company | $2.0B | Majority closings, higher conversion |
Customer Segments
First-time and budget-conscious buyers
Households seeking affordable entry into homeownership prioritize value and monthly-payment predictability; in 2024 manufactured homes averaged about $113,000, offering lower purchase and carrying costs versus site-built homes. Buyers are sensitive to monthly payments and often use financing assistance (FHA Title I/II, VA) to qualify. Energy-efficient builds further cut operating costs, improving affordability and retention.
Downsizers and retirees
Downsizers and retirees favor Cavco’s smaller footprints and low-maintenance builds, with park models and cabins tailored to lifestyle communities and active-adult parks. Energy-efficient envelopes, modern comfort features and universal-design options meet aging-in-place needs; about 22 million Americans live in manufactured homes (HUD). Fast, factory-controlled production enables hassle-free delivery and quicker move-in timelines.
Rural and workforce housing buyers
Customers in rural areas—about 46 million Americans (roughly 14% of the U.S. population)—face limited site-built supply and demand durable, code-compliant homes delivered quickly; manufactured housing, which represents a meaningful share of affordable starts, meets that need. Employers often partner on workforce housing programs and down-payment or rental subsidies. Access to financing—often chattel or FHA loans—remains pivotal to conversion and sales.
Communities, RV resorts, and developers
Communities, RV resorts, and developers purchase multiple units for pads and rentals, prioritizing total cost of ownership, long-term durability, and aesthetic cohesion across properties; 2024 U.S. RV wholesale shipments were about 320,000 units, underscoring scale opportunities for bulk procurement and fleet replacement.
- Operators buy at scale for pads/rentals
- Prioritize cost, durability, cohesive design
- Require predictable schedules and turnkey setup
- Demand vendor partnerships and service SLAs
Institutional and government buyers
Institutional and government buyers—agencies and NGOs procuring for disaster relief or temporary housing—prioritize speed, regulatory compliance, and scalable delivery; US federal contracting exceeded $700 billion in 2024, underscoring large procurement pools. Contractual terms and inspections are stringent, with certified standards and rapid acceptance testing required. Post-deployment support, maintenance, and warranty services are critical for long-term mission success.
- Focus: rapid, scalable deployments
- Needs: strict compliance & inspections
- Contract terms: high certification & oversight
- Aftercare: essential post-deployment support
$113K avg; 22M in homes; rural & retiree demand
Households seek affordability and predictable monthly payments; 2024 manufactured homes averaged $113,000 and use FHA/VA financing. Downsizers/retirees value smaller, low-maintenance models; ~22M Americans live in manufactured homes. Rural buyers (~46M people) and operators (bulk buyers; 320,000 RV wholesale 2024) prioritize speed, durability, and turnkey service.
| Segment | 2024 metric | Key need |
|---|---|---|
| Households | $113,000 avg price | Low payments, financing |
| Retirees | 22M residents | Low-maintenance, aging-in-place |
| Rural/Operators | 46M people / 320k RVs | Speed, durability, bulk |
Cost Structure
Materials and components
Lumber, steel, insulation, roofing, windows and appliances dominate Cavco’s cost of goods sold and create sensitivity to commodity price swings. Volatility in these commodities compresses margins during spikes and vendor programs plus hedging strategies are used to mitigate input-price risk. Standardized designs and factory processes reduce material waste and lower per-unit cost. Supply-chain contracts and volume purchasing secure continuity.
Labor and plant operations
Wages, benefits, training and safety programs are major operating costs for Cavco, which reported net sales of $1.9 billion in fiscal 2024, with labor-intensive manufacturing driving margin pressure; utilities, maintenance and plant depreciation contribute materially to overhead. Lean initiatives (often cutting cycle times by up to 30% in manufacturing benchmarks) improve unit cost, while multi-shift utilization raises throughput and plant capacity utilization significantly.
Logistics, setup, and site services
Transportation permits, escorts, fuel and carriers add $1,000–5,000 per move; total transport often ranges $8,000–15,000 per unit (2024 industry estimates). Cranes, installers and site prep typically cost $12,000–30,000. Damage and rework require contingencies of about 3–7% of project value. Proactive route planning can cut transit incidents and delays by roughly 20–25%.
Sales, marketing, and dealer programs
Sales, marketing, and dealer programs fund commissions, co-op advertising and incentives that drove Cavco’s retail expansion in 2024; model center upkeep and increased digital spending generated higher lead conversion while financing promotions carried subsidy costs; ongoing training and enablement preserved dealer performance and gross margins.
- Commissions
- Co-op advertising
- Incentives/subsidies
- Model center upkeep
- Digital spend
- Training & enablement
Financing, insurance, and compliance
- Ongoing origination and servicing
- Credit losses reduce profitability
- Insurance admin and reinsurance fees
- Compliance spend prevents penalties
Commodity squeeze; sales $1.9B, transport $8k–15k
Lumber, steel, insulation, roofing, windows and appliances drive COGS and commodity volatility compresses margins; Cavco reported net sales of $1.9 billion in fiscal 2024. Labor, benefits, utilities and depreciation are major OPEX; lean initiatives and multi‑shift use improve unit costs. Transport typically $8,000–15,000 per unit; damage/rework ~3–7% of project value.
| Cost category | 2024 metric |
|---|---|
| Net sales | $1.9B |
| Transport per unit | $8,000–15,000 |
| Damage/rework | 3–7% |
Revenue Streams
Home sales to dealers and retail
Primary revenue derives from manufactured and modular home sales to dealers and retail, with Cavco reporting roughly $1.9 billion in net sales for fiscal 2024; pricing varies by specs, options and delivery region, and structured volume programs support dealer economics; seasonal mix shifts (higher towable sales in spring/summer, more modular in fall/winter) drove ASP movements during 2024.
Company-owned retail gross margin
Company-owned retail gross margin is driven by the spread between factory cost and retail selling price, with value-added services and customer-selected options materially lifting margin; local market dynamics (supply, land availability, and state regulations) enhance pricing power in many regions. Finance and insurance attachment further increases the overall ticket and per-unit profitability, particularly on higher-end models and service packages.
Mortgage origination and servicing
Mortgage origination and servicing generate origination fees, gain-on-sale and recurring servicing income for Cavco, while secondary market execution monetizes pipelines through bulk or MBS sales; higher market rates in 2024 (30-year fixed averaged about 7.0% per Freddie Mac) tended to widen warehouse spreads realized during hold periods. Cross-sell of home warranties, insurance and aftermarket services deepens customer relationships and lifts lifetime value.
Insurance premiums and commissions
Insurance premiums and commissions drive Cavco revenue through policy sales and renewals on home-related coverage, with recurring commission income from carrier partnerships; US homeowners insurance premiums exceeded $130B in 2024, supporting strong distribution economics. Bundled offers raise attach rates and claims management improves retention and lifetime value.
- Policy sales + renewals: recurring revenue
- Carrier commissions: steady income stream
- Bundles: higher attach rates
- Claims mgmt: boosts retention
Delivery, setup, and aftermarket services
Delivery, setup, and aftermarket services generate fees for transport, installation, and site work, with Cavco reporting approximately $1.8 billion in 2024 revenue supporting expanded field operations; parts, repairs, and upgrades extend lifecycle value and improve resale economics; warranty extensions create optionality for higher-margin add-ons; service contracts build recurring revenue and stabilize cash flow.
- Fees: transport, installation, site work
- Aftermarket: parts, repairs, upgrades
- Warranty extensions: optional high-margin offers
- Service contracts: recurring revenue, retention
Manufactured homes drove $1.9B in 2024; margins lifted by F&I, services
Cavco generated roughly $1.9B in net sales in fiscal 2024, driven by manufactured and modular home unit sales to dealers and retail, with ASPs shifting seasonally. Company-owned retail, F&I, warranties and service contracts materially lift per-unit margins; mortgage origination/servicing and secondary market sales benefit from ~7.0% 30-year rates in 2024. Insurance premiums/commissions and delivery/setup fees add recurring and high-margin revenue.
| Stream | 2024 ($) | Role |
|---|---|---|
| Home sales | 1.9B | Core revenue |
| Field services | 1.8B | Fees & aftermarket |
| Mortgage/F&I | — | Origination/servicing gains |
| Insurance | — | Commissions/recurring |