With three new units opened in Q3 and another five in the pipeline, the home inspection franchise continues to grow, outperforming the real estate market and further proving its strength.
CINCINNATI, Oct. 9, 2024 /PRNewswire-PRWeb/ -- In dynamic business and real estate markets, HomeTeam Inspection Service, the 200-plus territory home inspection franchise, continues to see consistent, system-wide growth. With three new openings in Q3 and five more territories in the pipeline, the franchise is on track to round out the year with one new franchise opening per month. All of this growth, in the context of a still-unstable real estate market, only bolsters HomeTeam's strength further.
"Real estate transactions are actually down this year by just a bit," said Vice President, Josh Spires. "We're up approximately 6% in revenue year-over-year, and we're pretty excited that we've been able to achieve that level of performance despite what would appear to be suboptimal market conditions."
In addition to the three new territories open in Ohio, New Jersey, and Maryland, and steady revenue growth system-wide, HomeTeam has maintained its commitment to quality training, education and support for its owners since its founding. The intentionality behind HomeTeam's training and support is what has led to many franchise owners seeing tremendous success over their tenure with the brand. As a new addition to its Franchise Owner Coaching Department, in 2024, HomeTeam launched a new internal podcast, an additional resource it launched by the suggestion of an existing franchise owner.
"People are enamored with podcasts in general, and in our industry, we spend a lot of time on the road between inspections," Director of Business Development Matt Cook said. "Many of our owners have expressed interest in scheduling mentorship or coaching calls, but those can be difficult to fit into a busy schedule. So, we've turned training meetings into 45-to-60-minute podcasts that our owners can access and listen to at all times. It's been great, and we've already seen the majority of our owners subscribe to the internal feed."
As HomeTeam begins to look ahead into Q4 and beyond, they are setting their sights on developing a few new key markets which would be very beneficial for brand growth. With an already strong group of franchise owners in the Phoenix area, HomeTeam sees an opportunity to further saturate the market while giving a new franchise owner the opportunity to work in close proximity to a great group of mentors and cheerleaders. Omaha is another target due to the brand's existing partnership with Berkshire Hathaway HomeServices.
"Omaha is home to the Berkshire Hathaway HomeServices headquarters," Cook said. "We already have a relationship with them, so having a strong franchise in that market is extremely important to us. Given how strong the relationship already is, we see great potential to make an impact on homeowners in the market while deepening our connection with Berkshire Hathaway HomeServices."
With a stabilizing market, strong partnerships and proven performance, HomeTeam is positioned to round out the year and start 2025 on a high note, both in terms of franchise development and the success of existing franchise owners' businesses.
"Typically, we see a leveling off of revenue for HomeTeam after the major home-buying push of spring and summer, but we are currently experiencing uncharacteristic growth for what is usually the end of the busy season," Vice President Josh Spires said. "Our July performance surpassed June's, and we're continuing to outperform last year. With inflation stabilizing and the Fed cutting rates, we anticipate an uptick in the housing market. As we close out the year and head back into the busy season, we expect even stronger growth for HomeTeam."
ABOUT HOMETEAM INSPECTION SERVICE
Founded in 1992, HomeTeam Inspection Service is a full-service, independent home inspection franchise serving home buyers, sellers and real estate agents. For 30 years, HomeTeam has built a reputation for providing professional, reliable, efficient and accurate inspections on both residential and commercial property, focusing on electrical and plumbing systems, HVAC, exterior and siding, gutters and drainage, mold inspections, air quality reports and much more. Unlike other inspection companies, HomeTeam sends a team of certified inspectors to every appointment to provide a better and faster inspection, every single time. The brand's reputation for excellence has made them a top choice among real estate agents and earned them the title of #1 home inspection franchise by Entrepreneur magazine's 2022 Franchise 500 listing. Now, HomeTeam Inspection Service has grown to include over 200 territories nationwide. For more information about HomeTeam please visit https://www.hometeam.com.
Media Contact
Julie Maw, Mainland, 3125263996, jmaw@hellomainland.com, www.hellomainland.com
SOURCE HomeTeam Inspection Service
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