At a Glance
Products & Services: Home inspections
Number of Locations: 343
Total Investment: $61.1K - $107.9K
Began Franchising: 1979
Ken Austin began an independent property inspection service in northern New Jersey in 1971. Nine years later, he formed HouseMaster and began franchising, using marketing experience he gained at Johnson & Johnson and Warner Lambert Co. to spread the word about his new company.
HouseMaster inspectors check out all the major systems of a home, providing a comprehensive report on all physical conditions. The HouseMaster Express Report can be completed on-site. HouseMaster franchises offer homebuyers a limited inspection guarantee, and the company has a group errors and omissions insurance program to protect franchisees.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $42,500
Ongoing Royalty Fee: 6-7.5%
Term of Franchise Agreement: 5 years, renewable
Veteran Incentives: 15% off franchise fee
Financial RequirementsNet Worth: $80,000
Liquid Cash Available: $40,000
OperationsFranchise can be run from home. 30% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1 - 5. Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators).
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