Robert,
It’s keyworded for Kentucky but here’s some info on startup with some informational links that can help you plan.
One of the hardest parts for those in the trades switching to Home Inspection is unlearning all the “good enough” and “it’ll work this way” and learning the “right” way.
Good luck. It’s hard work but patience and persistence pay off.
You can do it, if you really want to do it.
Any time is a good time to start a business in any industry if (1) one’s company is capitalized properly, (2) if one understands business management (or at least is willing to hire someone who does understand business management if business management is not one’s forté), and (3) one understands marketing (or at least is willing to hire someone who does understand marketing if marketing is not one’s forté).
Any time is a good time if (1) one’s company is capitalized properly, and (2) one understands marketing (or at least is willing to hire someone who does understand marketing if marketing is not one’s forté).
Cash reserves
I heard great advice when it comes to getting into the home inspection business.
How do you make a small fortune doing home inspections?
Start with a large fortune.
Thanks Russell, I absolutely enjoy the marketing end of things. I just seem to have a nak for it. I am really not worried about getting business. I know it take persistence and time like any worth while venture.
Unfortunately, even though I am excellent in my trade, due to darn surgeries, I have no choice but to get out of the construction field. I figured that becoming an HI would be a career transition where as my construction experience would be a benefit and not a deficit.
One gentleman who wrote expressed his concerns about “unlearning” the “good enough” mentality of my trade (paraphrased). I personally think that that depends on the integrity of the tradesman in which he conducted business. I kind of took it as an insult. But, he has probably seen enough poor workmanship to also have a valid point. I have also. But again, just as there are poor contractors, there are poor HI’s.
But one thing I do know is that if a person in any field does not have integrity, and that always incorporates putting the value of others first, he/she will eventually fail. For some reason, and in todays mentality of me me me, many lose out from the rewards of putting others first in friendships and in business.
Once this is understood and applied, I don’t care what the market is doing, having demonstrated this competently to a client, work will be fed my way out of duty, loyalty and trust. Always have…always will. And I have this quality.
In short…If I fail to be praised for my work, I did not demonstrate these qualities and need to find out where adjustments need to be tweaked.
I believe the ability to “create” trust must not be developed on an “one time” basis. There are some pretty smooth talking liars out there that take advantage of people everyday. But rather, a consistent and persistent “desire” to become better than I was the day before, for me, is integrity. And that SELLS!
If there is someone I am trying to get my foot in the door with, absolutely believes that I have “their” best interest first and foremost, I’m in!! A person can’t fake sincerity for long before being found out.
I find this one of the biggest pitfalls for business failure. Every customer/client “has” to completely believe that we have only thier best interest in mind in order to feel the trust they need to select someone. I know I want that, if I am having to hire someone.
All of the certifications play a part…but in truth, a small part in creating volume of work.
Any other advice would greatly be appreciated.
Bob
Robert, good luck to you on entering this profession. Other ideas are to join the local or neighboring Chamber of Commerce or both and get active. Join a networking group like BNI or Le Tip or a group in the chamber you just joined. Send out letters to your past clients, family, friends stating you are now in the inspection biz. Use referral rewards, they work great. Anything you can think of getting your name out in a positive fashion is not out of the question.
Most importantly, when you do your inspection do a great inspection each and every time! Have a good report that is easy to read and follow. Obviously with 25+ years in biz you know how things work in the real world.
Again, good luck!
If your business is anything like that post, I have no doubt that you will be immensely successful as a home inspector, or in any other business should you decide not to go with home inspections. As my wise old grandmother said, “You are a pot of gold” (see http://mywiseoldgrandmother.com/words-of-wisdom.html.).
That would be the good capitalization part.
Just a few of the major things on my list:
1 - Have a business plan.
2 - Have a marketing plan.
3 - Have a tracking and analysis plan.
4 - Know what your competition is doing.
5 - Do what your competition doesn’t do.
6 - Diversify your business services. One inspection does not fit all!
7 - Know your weaknesses and get someone to complement them.
8 - Know your strengths and use them to your fullest advantage.
9 - Join your local business associations and make contacts.
10 - Ask for business from everyone you meet.
Thanks Dennis! I have already compiled a call list of past and potential customers. I like to call first to “ask” permission from the true potentially deciding individual to send them an information package after giving them a 20 second brief about my company. I find this sets the stage for them “feeling important” (which is important and proffesional), and at the same time they are now “expecting my package”, and it is just not another piece of junk mail. And we all know that everyone likes to feel important. I really try to keep the bar as high as I can when “allowing” the person I am speaking with to value his/her importance in my eyes. I also again “ask permission” to call back in a week or so to follow up. Once that has been accomplished, I then set up an appointment for a face to face where as each of our attention is strictly focused on each other and the topic at hand. This simple method has worked for me for 30 years. So simple, so powerful!
note…I have never done a “walk-in” to speak with someone about being hired. Too many variables that can go wrong…bad day, catching them at the wrong time…ect. I want their attention to be on me, and that is seldom the case with walk-ins. Plus, it eats up so much time. I can contact 50 times as many people in the same amount of time and this in turn lowers my average cost for initial contact.
Thanks Robert. I like your idea and use a variation of it. I contact Realtors, bankers, mortgage people to set up appointment at a later time and tell them I will keep them no longer than 20 minutes. I stick to that time frame, if they want to further discuss my services, I set aside time for him/her in my schedule for the day.
Again the best of luck to you!
I was wondering something…what is your method for getting some type of commitment from your first meeting? What carrot do you dangle in other words? I always with new potential customers that have the ability to “feed me work” instead of me searching it out (and as in the “God Father”), make them an offer they can’t refuse to get in!
I would never dismiss the idea of offering a free inspection. In my finish carpentry construction business, I have offered and done many model homes for no charge, and also have reaped the benefits after I was able to demonstrate my expertise.
This is also a good way of “no-real-out-of-pocket-cost” marketing. Yes time is money, but I don’t need money to market myself this way. At least not as much. Like I said…provide an offer they can’t refuse if need be. Getting a commitment is my goal when meeting someone. Some will say “work for free” you’re nuts!
Think of it this way…pulling a number out of the air for the price of an inspection…say 300. Okay, so you don’t collect that $300 for the free inspection. But now divide that $300 from the repeat inspections from that same client because, you have demonstrated your expertise as a HI and also as a man of character and hunger, and after a small amount of time, that $300 truly becomes pennies.
I am just starting up also…but I guarantee you this will be part of my arsenal as it was in the past.
Of course my current business will be in force until I feel I can comfortably make the full transition.
Bob
With that attitude and patience, perseverance, and hard work, you can’t lose!
Thanks Erby! I have much to learn and I will. Nich has done so much with this site. The success pages are packed with a wealth of information I am finding out. You are right though…with the right attitude and desire which makes up the rest you mentioned, I won’t lose.
Thanks for the encouragement! That does help to keep someones motivation up.
Bob
I don’t use any sort of “magic”, but would at times like to take the Godfather approach. I tell them how I can help them meet their goals and objectives utilizing my services. I inform them that I relay information about the house in a non-scary way, which can kill a deal if you alarm the client. In addition, If I am talking with the owner or top broker of the agency, I offer them a great deal on a Deluxe inspection, which is only good for a client one time so I can earn their confidence. I normally tell them, "If you loan me 1% of your confidence, I’ll earn the other 99%. The third thing I tell them is I look at the inspection not only as a way to check the house over, but to also be an educator on the clients house. Informing them about conditions, if any, how to maintain the home so it will last, and what will happen if the issues are not corrected. My success rate is about average with Realtors on presentations. I get more inspections from referral from new Realtors after they have seen my work. Additionally, I get about 35% of my business from referrals of past clients too.
During the presentation I show them the binder of information I give to the client. It’s all about the client, as that is who I work for. Seems to open their eyes a little when they see what I do for their client for no extra charge.
Great attitude, honesty, professionalism, and good communication skills can get more business than people who do not have those skills.
Robert,
I think a slow market is the best time to market and get your name out there. Market hard to Realtors, there are many good real estate agents who truely want the best for their clients.
You can slowly build relationships now and when things pick up you will be have plenty of work.
I worked for another home inspection company just before the Florida market slow down. Things were so slow that the owner had to lay off a couple of us. I opened my own business and within a 3 - 4 months I have been very busy and already have a part time inspector in training. I know when the market picks up again…and it will, that I will have more work than I can handle.
It’s all about marketing. A great ranking website has been by far my best source of business. Go for it with the end in sight and you will do well, even in a slow market.
If one forgot to market during the good times, it will be more difficult to market during the tough times. However, it is never too late. Start now!
Of course it is ok - I like to help guys who are where I once was.
Anyone have a fee structure set up for these?