First of all I’d like to say that you guys have been a blessing. Every post I ever put up is answered with positive and resourceful info. I Thank You all for that.
Anyway, I have been approached by several people in my area interested in the industry. They want to know how to get started and everything else. My question’s to you guys are, If I offer to get them started and set them up, How do you multi-inspector firms benefit from the inspectors? Do you split profits? Or do you pay a wage? ? ? ? ?
I am in the business for only a year now and things have been better than I expected thanks to you guys. I am always opened to new ventures and I know there is a way to make money for myself and others without competiton.
Are you getting them started so that they can then go out and compete with you? That’s what it sounds like; something that I don’t do although it’s difficult to put a stop to it if that’s what the employee really wants. However, I’m usually such a good guy that when people start working for me, they don’t want to quit and go out on their own, especially when they look at all the costs and liability involved.
I have always paid my full-time employees a salary (as opposed to a commission or an hourly wage). That allows me to more fully control their time and their job description during the course of their employment with me. Those who accept additions to their job descriptions typically get nice salary increases, lots of perks, use of the company car, work-at-home privileges, etc. Those who don’t get smaller salary increases, few perks, and limited use of the company car.
I know many multi-inspector firm owners who pay their employees anywhere from 25% to 50% of the inspection fee. I’ve always thought that was extremely high, especially since my average inspection fee right now, including all inspection types (even those “starting at” $49) is around $414. For two hours of work, paying $207 is an extremely good rate of pay for someone who doesn’t own the business and is not a commissioned sales person, doctor, attorney, etc. For someone who is “just a home inspector,” $25 an hour should be a very good rate of pay.