After opening franchises in five new markets this year (so far), HomeTeam Inspection Service has seen impressive growth and is poised for continued expansion.
CINCINNATI, July 31, 2024 /PRNewswire-PRWeb/ -- HomeTeam Inspection Service is gearing up for a dynamic second half of 2024 following substantial growth and development in the first two quarters. The brand has opened five new franchises year-to-date and signed agreements for four additional territories in the second quarter of 2024 across West Cleveland, Ohio; DeLand, Florida; Bellevue, Washington and Harford County, Maryland. With seven franchises currently in the startup and opening process, HomeTeam Inspection Service is on track to see continued expansion and impact in the coming months.
"We're right on target to meet all of our goals by the end of this year," said Director of Business Development, Matt Cook. "Overall, we are seeing a 5-7% increase in company-wide revenue, as well as an increase in inspections, while average transaction fees are up. Our franchisees are staying busy and leveraging new partnerships, which have opened new business avenues. We are excited to pursue these opportunities in greater depth in the second half of the year."
In addition to the strategic market entries, HomeTeam Inspection Service has experienced a notable increase in revenue, with a 6.4% growth in Q2 2024 compared to Q2 2023. This financial growth is a testament to the brand's solid business model and the increasing demand for professional home inspection services.
"New construction sales are up nationwide and inventory has increased by 20%. Interest rates are moving downward, inventory is moving upward and home prices have risen by an impressive 6%," said President Adam Long. "HomeTeam is outperforming the real estate market and expects a strong second half of the year, building on a successful first half."
HomeTeam's expansion into new markets is not only beneficial for the company but also for the local communities. The services provided by HomeTeam franchisees help homeowners make informed decisions, maintain their properties and ultimately save money by identifying potential issues early.
As HomeTeam Inspection Service continues its expansion, the focus remains on partnering with dedicated local entrepreneurs who are passionate about providing valuable services to their communities. By doing so, HomeTeam ensures that each new franchise owner is well-equipped to succeed and make a positive impact in their market.
"HomeTeam is adaptable and cutting-edge, staying ahead of market trends and equipping our franchisees with the necessary certifications, training and models to succeed," said Long. "We understand the state of the real estate market and are expanding our services, including new construction and environmental inspections, to continue our growth and support system."
With a strong start to 2024 and a clear strategy for growth, HomeTeam Inspection Service is well on its way to further solidifying its position as a leader in the home inspection industry. Heading into Q3, the brand has its eyes on growth in Phoenix, Arizona; Sacramento, California; Seattle, Washington; and Alexandria, Virginia.
To find out more information on costs to buy this franchise, please visit https://www.hometeamfranchise.com/.
Media Contact
Julie Maw, Mainland, 3125263996, [email protected], www.hellomainland.com
SOURCE Mainland
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