The pandemic has caused a shift not just in people’s lives but in the world in general. Most businesses and industries have shifted to the remote work setup. Many people have spent most of their time at home, resulting in a solid residential real estate market. Because of this, the demand for home inspections grew higher. Due to this demand, there’s a greater opportunity to build and grow your own home inspection business. This business endeavor can be profitable, with part-time inspectors earning an average of $47,600 a year, full-time inspectors earning up to $97,000, and multi-inspector companies bringing in $500,000 to $3 million a year.
However, like any other business, not everyone succeeds as a home inspector. Even though the market demands are high and training is available to those who want to be a home inspector, not everyone succeeds in starting their own home inspection business. Sadly, not everyone is prepared to start a business from scratch.
Here are some of the tips that can help you start and grow your own home inspection business:
Create a Business Plan
A home inspection, just like any other business, requires a business plan. This will help you define your business goals, the steps you intend to make to reach them, and your timeline. This will help you become realistic with yourself about what you want to achieve and how you’ll do it.
Be sure to include the executive summary, overview of your services and pricing, market analysis with competitive research, and marketing and sales strategy in your business plan.
Choose Your Legal Business Structure
You must choose your legal business structure before registering your business with the state or applying for licenses and permits. Legal business structure is essential in starting a business because it will impact your operations, taxes, and personal liability. Look through the benefits and risks of legal business structures such as sole proprietorship, partnership, limited liability company, or corporation. Be sure to also consult with an attorney and accountant to help you choose the best business structure for your business.
Obtain Necessary Training and Licensing
Be sure to obtain the necessary training and licensing to operate your business. Check out the state regulations and training programs to help you meet your requirements. If you intend to offer your services in more than one state, comply with each state’s requirements.
Purchase Liability and Errors and Omissions Insurance
A home inspection business comes with a lot of responsibility. This business ensures the safety of a property before a family moves in. That comes with many risks, so it is important to prioritize getting liability insurance. Be sure also to check the state’s home inspection business regulations on insurance to ensure that you do not miss anything.
Invest on Tools
Tools are essential, especially in starting a business like a home inspection. Be sure to invest in tools that will ensure your safety and efficiency. Respirators, gloves, and safety glasses are some of the things that should be part of a home inspector’s toolkit.
Build your Brand
The competition is high when it comes to the home inspection business. You should always consider how to differentiate your home inspection business from another. Building your brand tells your potential customer about your business values, the type and level of services you offer, and why they should choose you to conduct their home inspection.
The Inspection Boys might be the right business franchise for you if you are looking for a credible home inspection franchise. The Inspection Boys franchise offers Credibility, Proven Marketing Strategies, Systems in place, Experience, and Recession Resistance. We will help you succeed in your home inspection business.
- We value our franchisees and value their goals and success. The Inspection Boys will offer a hands-on approach by assisting all franchisees every step of the way to maximize their success and growth.
- Exclusive Marketing Territories in place.
- The Inspection Boys unmatched marketing strategies to maximize exposure on day one when you are in operation!
- There are over 600,000 homes sold monthly, and the home inspection industry is worth over 4 Billion Dollars. There is expansion growth available for franchisees.
- The Inspection Boys system offers future franchise owners the ability to be RUNNING their business rather than working in it.
- The home Inspection industry offers limitless income potential and High-Profit Margins when you have suitable systems in place.
The Inspection Boys offers the best home inspection franchise opportunity. We are one of the leading home inspection companies in the United States. We have achieved customer satisfaction and established a reputable name throughout the years. So journey with us towards becoming the largest home inspection business. Contact us today.