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What Does It Take to Become a Young Entrepreneur?

WHAT DOES IT TAKE TO BECOME A YOUNG ENTREPRENEUR?
 September 21, 2021 |  Business Tips, Franchise |  inspection industry, small business, entrepreneur

By Shauna Nilsen, NPI, Inc.'s Recruitment Coordinator

More and more, younger generations are breaking apart from the traditional workforce to go out on their own. Nearly 30 percent of millenials own a small business, and 20 percent of them rely on it as their main income source. Have you thought about venturing out on your own? Here are our best tips for young entrepreneurs. While entrepreneurship may be intimidating, it’s also extremely rewarding.

Ask Yourself: What Do You Want?
Before starting your own business, decide what you want to accomplish. Perhaps it’s getting more free time. Or you might not enjoy office life and sitting behind a desk all day. Maybe it’s simply the prospect of making more money. Whatever your reason, it’s important you have your goals figured out before you begin your business venture.

Don’t Think You’re Too Young
Like we mentioned earlier, more millenials and even Gen Zers are walking away from the office to do their own thing. But one phrase often uttered by doubters could hold you back: “You’re too young.” Don’t think of it as an obstacle, but rather an advantage! Some of the best success stories come from young business owners that utilized their age. For starters, young entrepreneurs aren’t afraid of a challenge (the above phrase alone might be enough motivation to get you going!). Young business owners also ask questions and challenge the status quo, leaving an impact on any industry.

Home Inspections and Entrepreneurs
How does the inspection industry tie into entrepreneurship? Well, the obvious answer is that you can start your own home inspection franchise! There are certain benefits you get with a franchise that you might not get going at it alone. You won’t have to worry about being by yourself because you’ll have a whole team behind you! That means if you ever have a question or need advice, someone is there to answer you. You also get connected to a national brand that’s built many connections already. Plus, you save money without having to dish out extra to third-party marketing companies.

New Laws Means More Inspectors
The demand for qualified inspectors is expected to grow in the coming years. One reason for this is the Surfside condo collapse in Florida. As the state is still recovering from the tragedy, other major cities are re-examining their inspection laws. Coastal states, especially, are becoming more conscious of the effects of poor construction, age, and environmental elements on high-rise, multi-family residencies. Similar to other home service industries, property inspectors need to increase their numbers to match the predicted demand.

Many Older Inspectors Leaving
As we get closer to rounding another year, it means more inspectors are reaching retirement age. This highlights the great longevity that can be found in inspecting (houses and commercial properties aren’t disappearing any time soon), yet it also brings to light a point of concern. Almost half of inspectors are aged 55 and older, with less than 6 percent being 34 and younger. The “gray out” of the majority of the industry further stresses the need for younger, qualified professionals to step up.

Have questions? We can help!
As you can see, there’s a definite need for property inspectors. And the best part is you can get started today! If you still have questions about what it takes, check out this article with frequently asked questions. You can also contact me at shauna.nilsen@npiweb.com. We hope to hear from you soon!

 

About the Author
Shauna Nilsen, Recruitment Coordinator
Shauna has 12 years experience in research and development of policies and procedures, and training manuals. She started at NPI in our National Accounts department, assisting with placement and follow-up of all inspection orders and invoicing. Shauna now leads NPI's Recruitment Department to onboard new NPI and GPI franchisees.


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