ESSENTIAL STEPS FOR SETTING YOUR HOME INSPECTION BUSINESS UP FOR SUCCESS June 6, 2023 | Business Tips , Franchise | small business , business growth , money management , entrepreneur By Celeste Black-Harr, NPI, Inc.'s Recruitment Coordinator Becoming a home inspector is a great profession that allows for incredible flexibility and the potential for impressive profits, but many enter into the industry unprepared and uninformed. Starting a home inspection business requires an investment of both time and money, and too many start up while missing key details that cause their businesses to stagnate or even fold prematurely. Don’t let a lack of research end your entrepreneurship dreams before you’ve started! Avoid these pitfalls, and your home inspection business has the opportunity to meet its potential. Understand the Profession Although this may sound surprising, one of the most common mistakes that new home inspection business owners make when setting up their business is that they do not fully understand what the job entails. Business owners who start out inspecting homes themselves need to be aware of the physical nature of home inspections, for example. To examine roofs, home inspectors should expect to carry and maneuver ladders, as well as climb up and down them on a regular basis. Additionally, inspectors should feel comfortable with navigating attics and crawl spaces. Some newer technologies such as drones and crawl bots enable those who might be otherwise physically limited, but these tools incur additional costs and training. Many new home inspectors gloss over the initial fact-finding phase of what being a home inspector is actually like on a day to day basis, mostly looking forward to becoming their own boss and dictating their own schedule instead. The best thing that hopeful business owners can do to start their journey is to find a reliable home inspector mentor (ideally in their area) whom they can learn from. Naturally, the next hurdle with finding a mentor is that most people aren’t interested in training up their potential competition. Even if they are willing to share the basics, successful existing inspectors are likely to keep their hard-earned business-building strategies closer to the vest. In these situations, there really is no replacing a franchise model. New franchisee home inspectors have access to a national network of experienced, successful business owners who are far more willing to share their advice, marketing strategies, and stories of how they first “got their foot in the door.” Write a Detailed Business Plan Gaining a solid understanding of the business may take some time, but once this is accomplished, the next step is to project forward and assemble a realistic business plan, or in other words, a detailed written document that breaks down how, specifically, a business is expected to make money. Every business has startup costs, so owners should plan to itemize anticipated expenses, revenue expectations, and top line revenue growth. In addition, owners should dictate when (or if) they plan on hiring in the future, and what role they plan to have after one year, five years, ten years, etc. Having a network of support is important for success, so incorporating family members into business plans can hasten growth. Alternatively, partnerships can be a fruitful option, though agreements would need to be made regarding business structure and liability-sharing plans. Trusted advisors that business owners should ensure they identify through this set-up phase are their attorney for reviewing legal documents, and their accountant to review their business plan. When establishing their business as a franchise, a business owner’s support system and access to advisors rapidly increases. Though the amount of attention can vary between franchisors, National Property Inspections’ marketing team, national accounts team, and full corporate staff prides themselves on their accessibility. Get Equipped to Succeed With an understanding of the profession, a fleshed-out business plan in hand, and a strong support team in place, business owners should be ready to put their plan into action. Licensing and training should be completed as soon as possible to ensure competency and compliance with state standards, and the actual tools required to complete an inspection should also be acquired. Of particular note, any home inspector who considers forgoing their E & O Insurance or General Liability Insurance should rethink their plans. Insurance isn’t a suggested expense, it is necessary for any successful home inspection business. These plans are not only for a business’ protection, but they provide vital peace-of-mind for clients as well. Finally, every business needs a potent marketing plan to succeed. This includes (but is not limited to) an eye-catching website built with SEO in mind , professionally-designed marketing materials (such as brochures, business cards, and flyers), and branded shirts and vehicle signage. These items ensure that your business is recognized as legitimate and trustworthy, and without them, standing out from the competition becomes a task of its own. Admittedly, there is a lot to juggle when setting up a new home inspection business - but business owners don’t have to go it alone! National Property Inspections is an established brand, built on a reputation tracing back to 1987. To learn more about what a home inspection franchise can mean for your business plan, get a free info packet today! Our recruitment team is always available to talk through what a relationship with NPI can mean for you. Send an email , or schedule a call to learn more. About the Author Celeste Black-Harr, Recruitment Coordinator With a background in customer service and office administration, Celeste joined National Property Inspections, Inc. in 2022. Her experience in customer service is the driving force behind helping all new franchise owners get started and developing those strong business relations! In her daily role as Recruitment Coordinator, Celeste onboards new NPI and GPI franchises from across the United Stated and Canada.