Former B-2 Stealth pilot Brian O’Rear was well-prepared to buy a franchise when he retired from the Air Force in 2009. O’Rear, who flew a mission over Afghanistan the first night America struck back against terrorism in 2001, started studying franchise concepts years before he retired. He read franchise magazines, did research online and attended franchise conferences.
The fledgling home inspection industry caught his attention. “I realized that the home inspection industry was relatively immature, that it’s mostly filled with single-man operations and mom-and-pop type companies and that more professional companies are the wave of the future in this business,” O’Rear said.
After thoroughly researching three home inspection franchisors, O’Rear bought a Home- Team Inspection Service franchise in Louisville, Ky., in September 2009.
HomeTeam is another home-based franchise that requires a relatively low initial investment of between $60,000 and $87,000. O’Rear used a $50,000 Patriot Express Loan through the Small Business Administration to finance most of the $70,000 start-up cost for his business after he retired from the Air Force. He loaned his company the balance.
“That whole process was really, really smooth,” O’Rear said. “I think a lot of the military background helped because I was able to put together a nice tight business plan. I went and presented a business plan to the bank – it was a very easy sell.”