Starting Your Own Home Inspection Business
If you are a home inspector and have been involved in the business for some time now, you might have
thought about starting your own home inspection business. And why shouldn't you? As the real estate market
rebounds and concern over the safety and integrity of structures and buildings become a primary consideration
in the purchase of a home, the demand for the services that home and building inspectors offer is expected
to grow. Since home inspectors are part of all phases of the construction process- from construction to
maintenance to repair- it's unlikely that they will get affected when another recession slows down the real
estate economy. If truth be told, there is still a huge chunk of the market that needs qualified home inspectors
even as this post is being written. All these are good reasons to start your own home inspection business.
What are the perks of venturing on your own as a home inspector, anyway? First of all, you get the chance to
be your own boss and work your own hours. You get to experience the thrill of actually growing your business,
of watching your client list grow as more and more people get to know the quality of your work through
referrals from satisfied clients. Of course, it goes without saying that if you run your business well, you get to
reap the financial rewards by yourself.
But like any business that has just started out, starting your own home inspection company has its own share
of growing pains. While you become your own boss, you will also be your own secretary, finance officer and
janitor as well. Establishing connections and letting people know about your business is not going to come easy
as well. It's going to take a lot of initiative, advertising savvy and sheer hard work. The financial rewards are not
also going to be as lucrative when you are still starting out. That will all come with time and the right amount
of effort. Another risk- if it should be called that way- that comes with starting your own home inspection
business is that you have to assume all liability and face potential lawsuits on your own.
If despite all these challenges, you still want to start your own company, you should do the proper feasibility
study about the area you intend to serve. You have to know if the number of homes there will make your
business viable. Get to know the competition and their prices and the potential clients that you will be serving.
Make sure that you create a business plan to serve as a blueprint for your company. You should also ensure
that you give people a reason to switch to your services, not necessarily because you are cheaper. Finally, you
should also choose an inspection reporting system that suits your personality and your budget. Always make it
a point to prepare yourself in all aspects of the business- managerial, accounting and interpersonal relations.
Get training if you feel that you are inadequate in any of these areas.
Be flexible as your business gets rolling. Be open to changes when you feel that these are warranted. Don't give
up easily as there are bound to be frustrating moments in your journey. With the determination and will to
succeed, you should be able to take your home inspection business to new and greater heights.
If you believe that you have what it takes to be a Home Inspector, then the first step is the Home Inspector Exam Study Guide that walks you through the entire Home Inspertor hiring process.
For more information, go to our page for the Home Inspector Exam Study Guide.