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- 2022 Franchise 500 Rank
#241 Ranked #251 last year
- Initial investment
$50K - $77K
- Units as of 2021
202 19.5% over 3 years
Here’s what you need to know if you’re interested in opening a HomeTeam Inspection Service franchise.
HomeTeam Inspection Service is one of the leading brands of in-home service inspections. Operations began in 1992, and HomeTeam Inspection Service has only honed its skills since then.
HomeTeam Inspection Service believes that everyone deserves a better home and strives to provide homebuyers with professional home services. HomeTeam Inspection Services utilizes a team of experts on all components and systems of construction. Missing a significant problem in a home can be financially devastating, and most homebuyers don't know how to identify these defects. That’s when the professionals at HomeTeam Inspection Service take over and make sure that the homeowners know what they are getting with their exciting new purchase of a home.
Why You May Want to Start a HomeTeam Inspection Service Franchise
Starting a HomeTeam Inspection Service franchise means you can satisfy your passion for conducting inspections while giving back to your community. HomeTeam Inspection Service franchise has a relatively flexible business model with moderately low startup costs along with the opportunity to establish a successful business.
As a franchisee, you'll provide investors and homebuyers with home inspection services to ensure that a home is livable, safe, and up to code before a buyer makes the purchase. You'll ensure that a home is within regulation in several categories, including plumbing, foundation, electrical systems, basements, attics, and more.
HomeTeam Inspection Service is a leader in marketing, operations, and technology. The brand continues to set its standards high as one of the leading home inspection franchises in the industry. With over 175 locations across the U.S., HomeTeam Inspection Service appears to be one of the only franchises in the industry that trains its franchisees to develop a powerful approach to their specific territories. This approach may help you establish a flourishing business that will thrive in the real estate market.
What Might Make a HomeTeam Inspection Service Franchise a Good Choice?
To be part of the HomeTeam Inspection Service franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees that will include advertising, royalty, and potential renewal fees. It may be a good idea to speak to existing franchisees and ask questions to the HomeTeam Inspection Service team when deciding if the opportunity is right for you.
Suppose your net worth and available liquid capital match the brand’s requirements. In that case, you may qualify to open a HomeTeam Inspection Service franchise, and you can get started with an initial investment.
Your biggest ally as a HomeTeam Inspection Service franchisee may be word of mouth as you conduct inspections. Clients may refer other people to you and keep your business flowing. So make sure you have lots of business cards to share!
How To Open a HomeTeam Inspection Service Franchise
As you decide if opening a HomeTeam Inspection Service franchise is right for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a HomeTeam Inspection Service franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
In no time, you may be inspecting homes and businesses the HomeTeam Inspection Service franchise way. Arm yourself with the opportunity to start your own HomeTeam Inspection Service and submit an inquiry form today!
About HomeTeam Inspection Service
- Franchising Since
- 1992 (30 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Canada
- # of Units
- 202 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a HomeTeam Inspection Service franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $35,000 - $55,000
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $50,100 - $76,800
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 10-15% larger territory
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- HomeTeam Inspection Service has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 33 hours
- Classroom Training
- 48 hours
- Additional Training
- Licensing courses
- Ongoing Support
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Work with our free FranCoach and get what you need to start a HomeTeam Inspection Service franchise.
Franchise 500 Ranking History
Compare where HomeTeam Inspection Service landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where HomeTeam Inspection Service ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to HomeTeam Inspection Service.
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