How do you determine territory size?
Territory size is based on "Owner Occupied Homes" (o.o.h.). Territorries consist of up to 150,000 o.o.h. The difference between HomeTeam and other franchises is that we count only occupied homes in our values, which means that all new construction and commercial inspections are an added bonus. There are times when HomeTeam will sell a smaller territory when there is a specific geographic need or when an owner is expanding.
How do I hire inspectors?
Forming great teams has always been a priority for HomeTeam. After more than a quarter century of experience, the process has been perfected. HomeTeam trains and guides our new owners on every aspect of the hiring process beginning with deciphering what makes an ideal "HomeTeam Inspector." The detailed instructions offer ad templates, target markets, interviewing questions, incentive programs and much more.
How much money can I make?
The answer is truly up to the owner. HomeTeam's top quartile averaged more than 1/2 million dollars in revenue in 2016. All of HomeTeam's territories have the potential to generate multiple millions in revenue annually. HomeTeam seeks to partner with individuals who would like to generate high revenue, scale their territories and, if they choose, replicate their success in another territory when they have exceeded a 15% market share.
Can I purchase more than one territory?
For existing owners who have reached a minimum of 15% market share, HomeTeam will sell a second territory to the successful owner. When purchasing an initial territory, HomeTeam will occasionally encounter a propective owner who has extensive business, sales and industry experience, and desires more than one territory. With an in-depth background and financial analysis, HomeTeam will, in rare instances, award more than one territory.
How much does it cost to open a HomeTeam franchise?
The franchise fee for a HomeTeam territory and all of the systems, ongoing support and training is $45,000. The Start-Up package that includes everything you need for the first year of business is $8,500. HomeTeam also recommends that owners have $15,000-$20,000 in reserves for insurance, miscellaneous items and funding growth during the initial year of your business.
Do you have any company owned stores?
HomeTeam currently has two company-managed locations. These locations are an integral part of our testing programs. HomeTeam, time after time, is the forerunner of systems, operations and technology in the Home Inspection Industry. However, before HomeTeam implements these advantages system-wide, thorough testing is completed in our company-owned locations, giving our owners the advantages of new programs without the risk.
How long is my contract term of agreement?
HomeTeam takes our partnerships seriously. For this reason, we do not sign short-term, 5-year agreements where failure is taken lightly. HomeTeam, with our 95% continuity rate, makes the success of our owners the highest of all priorities. We value our partners immensely, and back this with a full 10-year renewable agreement. With no litigation, HomeTeam is very selective of the owners we partner with.
Do I need to have a designated business location?
It is not necessary to have an office location. Most new owners designate an office space in their homes. However, as your operations grow, and you are managing multiple teams and territories, a central meeting location to discuss strategy, growth and incentives may be beneficial.
Do you offer financing?
HomeTeam offers financing for qualified prospective owners that do not have a broker or third party represent them at the introduction to our model. For owners that do have a coach or broker, HomeTeam has access to several valuable sources for funding including the SBA (Small Business Administration) where we are listed as a preferred franchise on their registry.