Home inspection businesses protect buyers, real estate agents, mortgage companies, and banks by identifying problems in a property before a real estate sale is completed. While some home inspection businesses provide general home services, some specialize in substances like mold or radon or components like sewer lines or pools. About 77% of homes in the U.S. are inspected prior to purchase, making this a relatively recession-proof industry.
While home inspectors are well paid for their expertise, owning a home inspection franchise is relatively affordable. The nature of the business typically allows you to set up a home-based entity with minimal equipment or materials. Like all new ventures, you can reduce your risk by owning a franchise and benefiting from a recognized name, solid reputation, proven business model, and established relationships. Explore our home inspection franchises to learn more.
Given the relatively low barrier to entry in this market, it’s tempting to jump into the home inspection space on your own without the support of a franchise. That can be done, of course, but you’d be taking on some significant challenges that you could avoid through the help of a franchise partner. So let’s discuss a couple of the hurdles you’ll have to clear if you decide to start your own independent operation.
Create a Business Plan
How will you find customers for your new home inspection venture, and what will you have to offer those customers when you find them? When you work with a franchise, the basic elements for operating your business will already be in place. You’ll still have plenty of work to do, of course, but the framework has been built, and you won’t need to reinvent the wheel. The time and effort you save by having this advantage can be significant – and you’ll be building on something that has proven to be a winner for other franchisors.
Be Trusted
A home inspection is a critical part of a real estate transaction, so buyers will want to be sure you are qualified to do the job properly. It will be difficult to convince them of your skills if you have no franchise brand name and little to no experience (even if you are properly trained). The franchise brand alone will go a long way toward conferring trust and helping you get your business off the ground. With the right franchise partner to support you, especially in the early days of the business, building a successful venture will be far more attainable.
