Eric, you said that carpenters to plumbers is apples to oranges. I respectfully disagree based on the fact that where I live plumbing falls under the building code, hence a licence to plumb isn’t even a requirement. The 4 years of school also isn’t 4 years of full time school, but whatever thats getting completely off track. Carpenters to foundation contractors is still a good comparison, the breadth of knowledge of a good carpenter far exceeds that of a good foundation contractor, and 9 times out of 10 I can tell you which one has 100% more income in the run of a year. (as I stated before, this statement reflects the business and pricing for my area)
Sounds like Russel Ray and the way he does it.
I got some good ideas from Russell’s website on pricing. He seems to understand his market very well.
bingo
In your State they could deliver recreational edibles between jobs 
IMHO, no home inspector is going to make “crazy money”. The only way to do that is a multi-inspector firm, and even then, it’s going to be more headache than it’s worth to have employees, vehicles, benefits, etc.
Adding more services (working more) will definitely yield more income, but if you’re a lone home inspector, you’re not gonna have a vacation house, boat, RV, vacations, or other extravagants unless your spouse works making good money. 
When your competitors do the same, how low does it go?
That among a host of other issues is one of the problems. In the end, you make not a whole lot more… overhead goes up… you are running around doing more with more liability.
We have found raising prices does a better job… and does not reduce work. In fact for past five years work has increased each year despite price increase each year.
Dropping prices is only if anything a short term and short sighted solution, as you said one can only drop so far… but there is no limit to raising prices a bit at a time. I do not see dropping prices as a business plan or solution to anything.
This could be debated all year round but the fact is that some people charge less than you do and if they get twice as much work guess who’s winning.
Lower price is just like marketing. Every time you spend marketing money, you lower your rate. If it cost you $10 000 in marketing to gain $100k worth of work, it’s the same as charging 10k less and still make 100k. Since you get more business, you will also get more referrals. When it’s busy you slowing bring you price up until you find the sweet spot.
I hate to debate this because I know lowering prices is not the way to go but until there is a minimum price like other industries has; dentistry… the most competitive guy will get the work.
Hi Robin, thanks for the PM, can you please let me know if you received mine? I think I can receive but can’t reply or send PM. I sent you a reply but I see no messages in my sent items.
Thanks,
David
The key is consistent pricing. I have picked up tons of realtors because my competition has raised pricing. Mine stays consistent. I don’t drop it. I actually lost an inspection yesterday to a competitor…because I am booked 2 weeks out. I have been like that for 2 months. I call the busy season, warm body season. You are going to get those who just grab the first guy they get. That is why they don’t care about your prices. But they will in the fall or early winter when it slows. I want to convert everyone in the slow season, knowing that I can’t when it is busy. I am averaging 15 to 18 per week right now. I am a one man show. Am heading out soon for 2 today. I also picked up 2 mold jobs last night. I will average 3000 per job, doing nothing beyond writing the bid and doing the pre and post testing. That happens 40 to 50 times per year aside from inspections. People count their pennies. It is amazing that someone will buy a 300,000 shack and not spend $ 150 on radon testing. I try to price so they will buy it. I want to sell more of it. I have 8 units that are going out about 13 times per week at $100 per unit. You have to play to the consumer side in yourself and in people. I wouldn’t sell that many at $150. Most of my competitors sell radon testing at that level. They only carry 1 or 2 units. They aren’t selling nearly as many tests. You have to find your sweet spot in pricing and stay consistent.
Got it thanks.
Be sure that you customer understands and values your service. I take extra time with my clients and with my reports to ensure they understand everything about the home they are purchasing. My primary means of is referrals, realtors make up only about 25-30% of my calls.
Also, as a general rule i raise my prices at least every year to keep pace with everyday life.
Since my prices are a little higher than many others when things are slow (about one month a year) it is easier to discount or offer some sort of promotion to get me through the slow time if it is needed or run some sort of web based add.
Perhaps I’m not a tough enough bidness guy but I’m pretty happy with my income. I don’t charge high dollar for inspections, I’m probably in the upper middle range.
According to national stats my income places me in the top 5% of households.
I’d say that’s darn good.
And while I work hard I also work very efficiently so I’m not overworking.
So obviously I’m not looking to improve my income drastically. 
Keep up the good work Tom! Wishing you and the rest of the guys here a banner year!
That and as Joe Hagarty posted on page 1 Raise your prices.
All Inspectors get paid what they are worth.
Jim
There is actually more truth to that than many realize or care to admit. And… although some believe it… it is a myth that raising prices hurts business. It is only when you raise it above what you are worth that it hurts business.
There are two ways to make more money. You need to charge more for your widgets, or sell more widgets. You can charge more for your widgets by increasing demand, and not supply. You sell more widgets by increasing demand and supply.
Raising prices isn’t an answer. Raising demand is the answer. So the real question is how do inspectors raise the demand for their services?
One thing we have done to increase demand like crazy is have two inspectors on site. People call us and ask if were the company getting the inspections done quickly.
It’s not enough to have an awesome idea though. You need to tell everyone.
So inspectors make more money by providing something of incredible value above a super awesome thorough home inspection, and then telling everyone about it.
well last year I had times when I couldn’t do more inspections so volume cant help, its make more per inspection or do more inspections…
I hired a guy to keep up with volume, and raised me fees a bit.
We use a team system, works great to keep quality high too, I’m at every inspection.
Good post Juan!