Me and my business partner are just starting our business and was wondering the best formula to use for inspection fees. We are currently using the scale online of $275 base, $1.80 per year of home, $2.00 per mile traveled, and $0.04 per sq. ft. A 1000sq. ft home at 30 years of age would be $370 is that a comparable formula to use in todays market.
You could experiment by changing the factors in the shaded Standard Rates box of www.nachi.org/fee-calculator.htm then adjust the *How busy are you *drop down box. Experiment with it. However, IMHO, the fees you can command are directly proportional to the success of your marketing (if your marketing is working and keeping the jobs comin’ in… you can command higher fees).
Curious, whose your businesses partner? Most of us are a one man team unless a franchise, or inspecting mansions in Florida.:mrgreen:
It ought to be fun trying to calculate all of that when trying to price and win an inspection while on the phone with the client. With experience you should be able to quote a price off the top of your head given the same info.
What about a .05% for rain and .0025% for high humidity and then there is Barometic pressure! Don’t get me going on barometic pressure. Then Red houses are always problematic detached garages, sheds,
I mean your only scraching the surface!
Thanks guys for your responses and I’ll definitely apply them.
And is your client a hot distraction like the one I had today, or will they bring 5 kids and uncle Joe and brother Billy with them?
My formula is a base price, then a additional cost for sq.ft., raised foundation and age. Then other questions like is it a 2 story, is the garage detached, is there any out buildings. I have also researched my competitors pricing. I have raised my prices in the last year an average of $50, I am not the highest priced inspector in my area (not yet) but I found that my reports and myself are worth it. My formula now is I charge what I am worth and I don’t try and compete with my competitors.