Scott and Megan Frederick purchased their Pillar To Post Home Inspectors franchise, which is called Pillar To Post – The Scott Frederick Team, in St. Louis, MO in August 2013. It was open and operating by October 2013. Scott shares his experience with Franchise Business Review.
What advice would you share with people considering purchasing a franchise? First identify your skill set and your interests. It’s important to be passionate about your industry since it will show in you communication with your clients and colleagues.
Why did you decide to go into franchising? The support of the franchisor and franchisees as well as the willingness to share ideas on success.
What kind of support do you get from fellow franchisees? When we first opened, I felt I had access to multiple franchisees in a similar situation. We talked and shared ideas, which helped with many learning curves. Now, I feel like I have a family. I can reach out to anyone. The support is great. We all share ideas through social media, etc.
What kind of support do you most appreciate from your franchisor? The Pillar To Post Home Inspectors’ corporate training in Toronto when we first began was incredible. It was so organized and informative. I felt like I was really part of something special. Now, I like that the franchisor involves the franchisees with research and development of new technology and marketing strategies.
Why did you choose to invest in a Pillar To Post franchise? I was looking for a franchise that was a market leader and had a strong focus on customer service and customer satisfaction. I looked at multiple other home inspection franchise opportunities and found that Pillar To Post Home Inspectors fit my vision. Its leadership team is also committed to developing and innovating new strategies, which helps ensure it remains competitive.
How did you fund your franchise? By leveraging my retirement account from my previous career as a firefighter.
What previous experience have you found particularly helpful when it comes to successfully running your franchise? I have an extensive background in building construction from being a general contractor and was a career firefighter. When you merge these two skill sets, it creates a value to my clients regarding home construction and safety.
Would you share your gross revenue figures? In 2015 it was $350,000. Our projected 2016 gross revenue is $525,000. We broke even during the first nine months and made a profit the first year.
How did you make ends meet until your business was profitable? We had savings and my wife worked full time. Now, that we’ve grown so fast, Megan is full time with our Pillar To Post Home Inspectors franchise.
What is your work/life balance? When I first opened, I continued with my usual schedule working seven hours a day with weekends off. Now, due to our rapid growth, I work 12-hour days and only have Sundays off. The business takes up the majority of my time, but I am learning to delegate things to others. We still take one family vacation a year.
Are you at the office daily? I am in the field inspecting 95% of the time. My wife, Megan, is in the office running things full time.
What is it that you like best about owning your franchise? I like knowing I am delivering an exceptional service and seeing the results. I also like being in control of my own success and destiny.
What is the most challenging aspect of being a franchisee? As we grow and scale up, we want to make sure we can find and hire employees who will deliver my level of service and represent our franchise properly.
Where do you see your business in the next five years? Our goal is to achieve $1,000,000 in gross sales.
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