Do you want to start a home inspection company from scratch? Or you need a sample home inspection business plan template? If YES, then i advice you read on.
The real estate industry is one industry that is considered to be a money spinner and there are many ways investors or entrepreneur can participate in it. If you are thinking of ways to become a player in the real estate industry with little start – up capital, then you should consider starting a home inspection business. It is also important to state that if you are considering going into this industry, you should have gather some form of related experience.
The good thing about home inspection business is that you can start out from your own house and within a short period of time if you are diligent, you can make very huge money from just a deal. The running cost of this business is also very low and your network will go a long way to determine the number of deals you can access.
In most countries of the world especially in the united states, there is a body that regulates the home inspection industry and it is advisable to become a certified home inspector if you truly want to do well in the industry. You can become a certified home inspector by going through the certification process (exams) of either American Society of Home Inspectors (ASHI) or the National Association of Home Inspectors (NAHI).
Now, if you have made up your mind to start a home inspection business, then the following sure fire tips would help you start from the scratch and build the business to profitability within record time;
Starting a Home Inspection Firm – Sample Business Plan Template
Table of Content
1. Read up all you can find About Home Inspection
No doubt sometimes some business ideas might seem fantastic and highly profitable when others are doing it, but might not be ideal for you. One of the ways you need to prove to yourself that you are making the right choice to start a particular business is to read up all you could lay your hands about the business.
The truth is that in some cases, you might discover some challenges associated with the business that you can’t handle. So, if you think that starting a home inspection business is the right thing for you to do, it is advisable that you first of all read up all you could lay your hands on so that you can be well informed and guided because committing your time and money to the business.
2. Register Your Business
If you are convinced that you have all it take to do well in this industry (Home Inspection Industry), then the next thing that is expected of you to do is to go ahead and register your company. When you have registered your company, you can now open a corporate account and also obtain your Tax Payers ID.
3. Acquire on the Field Experience
It is one thing to have paper knowledge of a business and it is entirely another thing to acquire on the field experience. It will do you a whole lot of good to garner ample on the field experience before starting out with your own home inspection business.
Part of what you need to do to acquire this experience is to work with someone that is a major player in this industry. It will afford you the opportunity to know how to source for deals, how to seal deals and the pricing system. The truth is that if you are properly trained as a home inspector, it will make it easier for you to do very well when you start your own business.
4. Get the Necessary Certification
Part of the requirements that is expected from anyone who wants to start his or her own home inspections company is to get a certification. If you live in the United States of America, you can obtain your certification from either American Society of Home Inspectors (ASHI) or the National Association of Home Inspectors (NAHI). Of course it is important to state that you are not going to get the certification on a platter of gold, you would have to work for it. You will have to write and pass their exams.
Part of the insurance cover you would need to buy is Purchase liability insurance. With purchase liability insurance, you would be able to protect yourself and your client when the business deal goes bad. It is part of what people do in the industry and you should prepare yourself for it as well.
The people that do well in this industry are those with very rich network base. If you truly want to do pretty well as a home inspector, then you should be able to build a network that comprises of realtors, construction contractors, real estate lawyers, and business people, et al. Also, of course you know how to get involved with these groups of people. The truth is that your network is indeed your net worth in the market place.
7. Go Out There and Search for Business Deals
Having done all you need to do to set up your home inspection business, then you need to just go out there to search for deals. When going out to search for business deals, you should be well equipped with your business card, well dressed and well prepared.
It is important to point that you should take out time to develop your marketing and presentation skills, so that you will be able to maximize every opportunity you get to talk to a client. Of course your skills for attention for details should be very groomed if indeed you want to do well in this industry.
There you have it, 7 tips that would do you a world of good when you take them really seriously. Those who have walked the path of starting the home inspection business by working with these tips have had good stories to tell. Make this tips yours and you would be glad you really did.