I’m sure many Inspectors have asked themselves this question, and wondered about the possibilities. So here’s to all those who are seriously contemplating this issue, and what you need to consider before making your choice final.
Points in favor of expanding your home inspection business.
- High demand- According to one statistic, more than 70% of home buyers hire a home inspector (National Association of Realtors and the American Society of Home Inspectors), so this proves that home inspections are in demand! You don’t have to worry about your business not having a potential workload.
- Decision of a life time – Purchasing a property is one of the most important decision people have to make so they will be willing to pay for a good inspection.
- More profit – With more inspectors you will be able to inspect more places at one time. This means a potentially larger market share and more income for your business.
- New Areas – If you are not doing well in one city because of fierce competition from rival companies, lack of trust of clients or any other reason then you can simply expand your business to other areas, providing you with more opportunities to make your business successful.
- Sky is not the limit! Even if your business is already doing well, you can always achieve more!
Points against expanding your home inspection business
- More investment – Of course to expand your business you will have to spend more. You will have to pay more inspectors and might have to open new offices in different cities, which will require you to pay for more utilities and resources.
- Regulations – There will be different laws and regulations in other cities. If your tactics were successful in one area, you may not be able to use that in other areas because of certain housing codes or any similar regulation. Make sure to do some research before servicing a new area.
-Competition – Wherever you are thinking of expanding your business you will have to learn about the companies already working there. If they are settled and are successful, you will have to invest a lot to make your business look attractive to win clients over.
There are also ways to succeed in this business without expanding. You can buy new gadgets and equipment for the inspectors already working for you and can market your business all over the internet by using different social media networks like Linked In, facebook, twitter etc. Build an attractive website and make it viral, so everyone knows about it. Whichever you decide to do, make sure that you are aggressive and your efforts will pay off.