30 January Why Now Is A Great Time To Franchise With NPI January 30, 2024 By Melisa Rana Franchise, Marketing, Social Media business growth, business website, digital marketing, email marketing, Entrepreneur, Google, inspection industry, networking, SEO, small business 0 WHY NOW IS A GREAT TIME TO FRANCHISE WITH NPI January 30, 2024 | Marketing, Social Media, Franchise | inspection industry, small business, business growth, networking, Google, entrepreneur, email marketing, digital marketing, business website, SEO Opening up a small business requires boldness and a willingness to think big, but the most successful entrepreneurs tend to have their pulse on the current trends and projections of their selected industry. In an industry like residential and commercial property inspections, it makes sense to track the health and activity of the local real estate market before making major investments. While recent housing struggles might tempt some to delay franchising in property inspections, encouraging real estate projections and the challenges of solo operation paint a different picture. Here's why now might be a strategic entry point: Housing Market Projections for 2024 According to the most recent housing market projections from Forbes, 2024 projects a rebound from 2023's real estate woes. Declining mortgage rates predict a much-needed rise in inventory. While improved affordability may arrive later in the year, these trends signal a recovering market. While healthy real estate markets benefit property inspections, solo businesses often follow a boom-bust cycle. They launch during hot markets and struggle when things cool. Conversely, inspectors who weather tough times gain valuable experience and client relationships. When the market rebounds, they are perfectly positioned to dominate. Considering this cyclical nature and the time required to build a business, entering during market recovery makes strategic sense. New inspectors can capitalize on lower competition and rising demand, honing their skills and reputation in preparation for a booming market. Solo Operators Have a Tougher Time Today Today's small business owner wears many hats. Industry expertise and relationship-building remain crucial, but so is proficiency in website creation, social media marketing, and graphic design. Franchises offer support in these areas, allowing solo inspectors to focus on their core expertise. Even the most ambitious and multi-talented entrepreneurs would be spread too thin if they wanted to cover all of these bases when building a new business. This means the most resilient small businesses either start with enough excess capital or investment that they can hire out talented people to fill these different roles, or they opt for a franchising system with built in support to fill these needs. Developing a robust support network takes a lot of time and energy - but it’s essential to have people to lean on for guidance when encountering unfamiliar hurdles. NPI Offers Tons of Support With National Property Inspections, franchisees gain access to a wide array of benefits, support, and tools that they can use to climb to the top of their local market. Our marketing team provides a proven plan that walks inspectors through initial relationship building, widening their scope through Google ads and online marketing in the first few years, and expanding their team with their first employees. Our dedicated marketing coach analyzes each franchisee's communication style, providing personalized strategies for team management and building referral relationships. On the digital side, website support and updates, social media training, customized materials, and access to our experts help inspectors with even limited experience get noticed. In the field, tech support is available to work through issues and to talk through obscure finds (which will definitely come up during inspections - every home is different, after all), and our National Accounts Department provides opportunities for potential jobs. Finally, for growth-minded business owners, National Property Inspections offers support for those that want to diversify their business and add new services to their repertoire. The NPI network of inspectors is full of some of the most experienced and successful business owners in the industry who invest in one another through sharing their strategies for growth, while also mentoring those who are just starting out. For those waiting for the right time to make that jump into becoming your own boss - reach out today, get your questions answered, and figure out if NPI is the right fit for you! Request your free info packet to learn more about the advantages of franchising with NPI, or contact our team directly to get your questions answered! Comments are closed.