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Start your Own Home Inspection Business

By  R.L.  Fieldingwillingness to be a part of the system. It
also involves paying for an existing business
As the housing market continues to cool,model - one that includes approved marketing
opportunities in related businesses, such asmaterials, the latest software systems,
the home inspection industry, often thrive.insurance and other operational systems.
Despite a slower than average market, theOwning a business franchise is an attractive
National Association of Realtors, estimatesoption when considering the time and money it
that 5.7 million resale homes will be soldwould take to organize all these elements on
and almost 852,000 new homes will be soldyour  own.
this year - and many of them will need
inspections.Successful franchise owners generally have a
strong background in marketing, management,
An inspection is one of the most importantremodeling or home rehabilitation and utilize
steps in the home buying process, especiallythose skills to grow their local franchise
in today's market. At a time when priceand potentially expand into a multi-unit
negotiations have become more vigorous, aoperator.
home inspection can give buyers, or sellers,
an edge in the negotiation process. AThe best candidate for a franchise is someone
professional home inspection can help buyerswho is interested in reaping the benefits of
avoid buying someone else's problems, and forhard work, but values the added coaching and
sellers the home inspection can help themaccountability of a franchise system. While a
eliminate potential defects that could turnfranchise owner controls the day-to-day
off  a  prospective  buyer.operation of a business, he or she is also
required to follow the franchisor's ways of
As the home inspection business continues tooperating. These might include designated
remain steady and profitable, there has neverhours of operation, the use of specific
been a better time to buy a franchise in theequipment or materials to operate the
field. Buying a franchise is a wisefranchise, or franchisor-approved marketing
investment, but only if the buyer understandsand/or  sales  materials.
the ins-and-outs of the relationship between
the  franchisor  and  franchise  owner.If you think you might be interested in
starting a home inspection franchise, it's a
Franchises generally have successful trackgood  idea  to  consider  the  following:
records compared to non-franchise start ups;
however, it takes time and money in order to1) Get Educated - Find out what kind of
turn a profit. Like any small business,training is offered by the franchisor.
undercapitalization is usually the number oneTraining is the cornerstone for success, so
cause of failure. It could, in fact, take ait's important to make sure the training
significant amount of time before aprovided  by  your  franchisor  is top notch.
franchisee realizes a return on his
investment. However, once your franchise2) Get Input - As part of your due diligence,
takes off, the benefits are well worth theyou will want to speak to as many current and
investment  in  time  and  money.former franchisees of the system as possible.
As part of the disclosure process, the
The Benefits of Owning Your Own Inspectionfranchisor is required to give you these
Businesscontact  names  -  use  them!
Although the housing market has cooled in3) Assess Your Strengths - or weaknesses.
some areas of the country, the percentage ofBuying a franchise does not automatically
transactions where a home inspection is usedguarantee clients. Calling on
has been growing. Opening a home inspectionRealtorsÂ(R) in your area and bank
franchise offers tremendous businessmanagers dealing in home loans will be a big
potential for entrepreneurs and for homepart of your marketing strategy. If you
inspectors looking to grow their businesscan't see yourself putting on a professional
with the help of a national company. Just apresentation or making a sales call, a home
few of the benefits of being part of a homeinspection franchise is probably not right
inspection  franchise  system  include:for  you.
• There is no building, real4) Talk to Your Family - Family support is a
estate  investment  or  inventory  to  carry.critical factor in making the dream a
reality. If your spouse is against the plan,
• There is no constructionit will be difficult to navigate the highs
experience necessary as you can hireand lows of a new business alone or with the
qualified  inspectors  to  work  for  you.added  tension  at  home.
• You gain access to trainingDeciding to invest a significant amount of
resources and marketing support from youryour time and money into buying a home
franchisor.inspection business franchise is, of course,
a risk. The first step should be taking the
What It Takes to Get Started as a Hometime to learn all you can about how to launch
Inspection  Franchise  Ownerand operate a successful business. The rest
should fall into place with a little
Becoming a successful franchise ownerperseverance, steady clients and a real
involves time, energy, commitment, and apassion for the business.



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