Franchimp Summary Rating
Lower than 62% of peers
Lower than 33% of peers
Franchise Summary
Description
A HomeTeam Franchise sells building inspection services for single-family homes and certain multi-family residential buildings.
Company Background
HomeTeam is a network of over 100 independent building inspection franchises. HomeTeam offers unparalleled value for the homebuyer and homeowner by providing an experienced, qualified inspector who has been trained in "inspect to sell" techniques that identify problems that could impact a property's marketability. The company also provides a web-based toolkit with proprietary content, training programs, marketing materials and other tools to help franchisees grow their business quickly.
Franchise Opportunity
Buying a home is one of the biggest investments you will ever make. Unfortunately, it's also one of the riskiest. A small crack in your foundation can lead to thousands of dollars in repairs and renovations down the road. You need to know if there are any problems before buying a new house! Home Team Inspections offers affordable, comprehensive inspections for homes throughout San Diego County and Riverside County that include visual inspection, infrared scans, moisture testing and radon testing. We have been helping people buy or sell their homes with peace-of-mind since 2002. Our service includes an onsite consultation where we explain our findings along with recommendations for repairs needed to protect your investment now and into the future . Your local Home Team franchisee can inspect single family homes as well as certain multi-family residential buildings up to three stories high (condos/townhomes) at no extra charge! The cost is just $250 for a
Corporate Structure
The HomeTeam Inspection Service, Inc. is an Ohio corporation that was incorporated on December 14, 1992. Their principal business address is 575 Chamber Drive, Milford, Ohio, 45150.
Royalties and Marketing Fees
Royalties : 6% of Gross Sales (Note 2) ? Refunds calculated on the following: 6% of the first $500,000 of Gross Sales per year, 5.5% on $500,001 - $750,000, 5% on the $750,001 - $1,000,000, and 4% on Gross Sales over $1,000,001. Annual Minimum Royalty Fee is 6% of the Minimum Annual Gross Sales threshold
Royalties : 3% of Gross Sales Annual Minimum Branding Fee is 3% of the Minimum Annual Gross Sales threshold (Note 3)
Royalties : $199 per month
Earnings Transparency
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Real Estate Industry$286,319 / unit
Franchise Type: Standard
Average Revenue During 2022
Franchisee Attrition
This franchise's rate of attrition in 2020
of 4.14%
was
Slightly Lower
than the 7% in the Real Estate industry. Generally speaking, a higher rate of attrition represents a less stable franchise system and a lower rate of attrition indicates a more successful system
What's Included in franchise attrition?
We define the franchisee attrition rate as the sum of terminations, re-acquisitions by
franchisor, non-renewals, and ceased operations, divided by the number of outlest at the start of the year.
It is a strong indicator of the strength of the underlying operating model
Franchise Types Available
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Employee Contact Database
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Distribution of HOMETEAM INSPECTION SERVICE Franchisees
HOMETEAM INSPECTION SERVICE Franchise System Development in 2024
FAQ
How much investment do I need to start my own HOMETEAM INSPECTION SERVICE business?
Franchisees typically require at least $65,100 to $91,800 investment to get their HOMETEAM INSPECTION SERVICE business started
What are the initial franchise fees for HOMETEAM INSPECTION SERVICE?
Franchisees typically need to pay at least $59,800 in fees directly to HOMETEAM INSPECTION SERVICE in order to earn the right to launch their business
How much money can I make with a HOMETEAM INSPECTION SERVICE franchise? What are
the average revenues for a typical HOMETEAM INSPECTION SERVICE business?
We estimate that the average revenue of an individual
HOMETEAM INSPECTION SERVICE unit is approximately
$286,319. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a HOMETEAM INSPECTION SERVICE unit? What
is my contractual commitment?
HOMETEAM INSPECTION SERVICE franchisees are typically required to sign up to a
10 year contract initially. The renewal length
is 10 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
The Franchisor's investment costs ranges from
$65,100 to $91,800
which is
Much Lower
than the $0 to $0 average in the Real Estate industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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