A successful HI once told me a HI needed 100k population to survive in their business. That would mean no more than 188 HI’s in all of Florida, so I somehow struggle with their ratio. Regardless, it does not take much to determine 1 in 11,000 will not promote a HI business either. Sort of like opening a McDonalds on an island of 20 people with no bridge.
FL population 18.8 mil
of Inachi members: 1700
ratio: 1 in 11,000
Add ASHI/FABI/others or no association and obviously the ratio goes down further. To what, I do not know but using 5700 HI’s/18.89 mil population yields:
1 HI for every 3300 people in FL/2.4 heads per household, yields:
1 HI for every 1,375 households/40% ownership ratio, yields:
1 Hi for every 550 potential candidates for a HI
Assuming 3 home purchases in a 40 yr span, (550x3)/40 yrs, yields:
41 home inspections per year, per HI in florida
How much are you gonna charge for a home inspection:
to gross $50k/yr, $1,220 per home
at $200/home, any size by the way, you get to gross $8,200 year and qualify for every Obama giftcard provided by the Feds.
Russell is lucky to be in such an affluent area. Here in volusia county, we can’t charge more than the trailer is worth to inspect it - just wouldn’t be right. bet the homes in Russell’s area have A/C units with matching numbers. here, we don’t use Recallcheck, we just call the pawn shop.
The market has been saturated with realtors for along time. The ratio in Florida is 163 residents per realtor. My humble location has more than I can count but seems like they all manage somehow. Have some friends who are inactive or part time. There are many more than what we really know and probably be same with HI’s at some point because just because you have the license means nothing. Maintaining them has many factors as we all know. Skills in business,marketing,customer service etc. Inspection is only part of the job. My two cents anyway.
there will always be competition and one guy will thrive while another starves; just a fact of business life. John is busy due to his knowledge of the trade and his great marketing abilities. Russell, ditto, and I respect their abilities as many others. The multi-inspector firms have a better chance at defending against the “low ball newcomers” due to proven relationships and the ability to profit by volume.
However, all of us should be concerned with our own industry driven market pricing, i.e., $99 home inspections. We know where that leads.
The numbers are the numbers though and 1:11,000 is not good.
Working 7 days a week. Booked through Thursday of next week and loving it!
We intend to service all 11,0000 of our clients this year.
Oh yeah, it’s not about price. We charge 30% more than our competitors for WM’s. Our clients recognize the superior service and our reputation. They really appreciate the custom service.
I believe the lowballers will be out of business in a year.
We do several new inspections a month for clients that hired an inexperienced lowballer that got it wrong. The realestate and insurance agents remember names…These guys will go back to landscaping as soon as the economy improves.
I don’t know about other areas of florida, but in Palm Beach County, we are having our best year in 6 years and it is consistent across the board. We have had to work 6 days a week for just about every week this year unless we chose not to work on weekends. Gentlemen, it is reputation and not price that gets us business. We have actually raised prices this year by $25.00 and there has been no question by the buyers or realtors.
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$99 home inspection, Includes one dozen cupcakes baked in your oven!