HomeTeam Inspection Service
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When buying a home, it has become standard practice to have a home inspection before the sale closes. In fact, the number of real estate home inspections performed each year is on the rise; almost 90 percent of all homes sold are inspected. Also, many mortgage companies now require a home inspection as a financing requirement.
HomeTeam Home Inspection franchise has set the standard of professionalism in the industry. Throughout the growth of the HomeTeam franchise network, its primary focus has remained the same: to offer top-quality home inspections, while running an effective and efficient operation to help control costs. This high-value, low-cost combination is the bedrock of HomeTeam’s operating philosophy.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
220 |
195 |
182 |
| | % Change | -- |
-11.4% |
-6.7% |
| | Company-Owned |
0 |
0 |
0 |
| | % Change | -- |
-- |
-- |
| | Total |
220 |
195 |
182 |
| | % Change | -- |
-11.4% |
-6.7% |
| | Franchised as % of Total |
100.0% |
100.0% |
100.0% |
Investment Required
The initial fee for a HomeTeam franchise is $9,800, plus a territory fee that ranges from $12,000 to $30,000.
HomeTeam Home Inspection provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$9,800 |
$9,800 |
|
Territory Fee |
$12,000 |
$30,000 |
|
Start-Up Package Fee |
$9,200 |
$9,200 |
|
Vehicle |
$1,000 |
$4,000 |
|
Furniture and Equipment |
$500 |
$1,000 |
|
Telephone, Bank and Other Deposits |
$500 |
$1,000 |
|
Expenses While Training |
$1,000 |
$2,000 |
|
Insurance |
$1,800 |
$4,000 |
|
Permits, Licenses & Profssional Memberships |
$500 |
$2,000 |
|
Additional Funds (3 Months) |
$3,000 |
$7,500 |
| |
Total Initial Investment |
$39,300 |
$70,500 |
Ongoing Expenses
HomeTeam franchisees pay ongoing royalty fees equal to 6% of gross sales, plus an annual minimum royalty equal to 6% of gross sales. Additional fees payable by franchisees include an advertising contribution equal to 3% and a local advertising fee equal to $2,500 for half of the calendar year and then 4% of gross sales.
What You Get—Training and Support
HomeTeam franchisees undergo a comprehensive two-week training course, where certified instructors teach successful home inspection operations and business practices. In addition to extensive classroom training, franchisees gain actual hands-on experience. During training, franchisees perform home inspections, first as observers, then as home inspectors. HomeTeam also gives instruction that covers entire marketing system, including how to make compelling presentations to referral sources in addition to powerful programs designed for the real estate professional and homebuyer.
HomeTeam franchisees also learn the ins and outs of the TeamWorks© proprietary computer and pocket PC software used during the home inspection to aid in gathering information used in completing professional home inspection reports. Ongoing regional and international meetings help franchisees stay on top of their inspection business. These meetings allow great networking opportunities with other HomeTeam Inspection Service franchise owners.
Territory
HomeTeam grants exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2012 Edition of Bond’s Top 100 Franchises publication.
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