5 Myths about Home Inspection Franchise Businesses
It’s estimated that there are more than 25,000 home inspection businesses in the U.S. alone. Home inspections as a career or business opportunity can be very appealing – it offers flexibility, challenges, the chance to be your own boss, and the satisfaction of helping others. And, despite the many disruptors facing real estate, home inspections are not vulnerable to similar disruptors—someone has to crawl around the house to document its condition!
As a result, the home inspection business continues to grow. As a professional with experience helping hundreds of entrepreneurs build their own successful home inspection businesses, I have heard every question and addressed many concerns about starting a home inspection business. Some of the concerns are simply unfounded, such as these five myths:
- You only get business from real estate agents. Part of a successful home inspection marketing strategy is networking with other real estate professionals, in addition to agents. There are many moving parts to every real estate transaction and it is important to know who’s who and connect with all potential contacts that may have the need for a home inspection professional.
- You need to have a construction background. It can be an added benefit to have a background in construction, but it is not a necessity. Some of the best home inspection entrepreneurs come from corporate backgrounds, the armed forces and everything in between. Access to professional training and ongoing technical support is the key to quality and is essential regardless of one’s background.
- It’s not a very high-tech profession. Every day, technology is changing our lives and the home inspection business is no exception. With digital images and video in reports, online scheduling, email and social media marketing, and high tech tools of the trade such as infrared devices, technology plays an important role in the business.
- All home inspectors are created equal. Beyond what the inspector inspects, how an inspector executes the customer experience can be very different and can make or break the inspector’s success. Word of mouth referrals are a big part of the business; rapport with the customer is as important as professionalism.
- Home buyers are your only customers. There are several different types of inspections that you can offer as a home inspector. Commercial inspections are a great source of business as well as pre-sale inspections for home sellers. Plus, in addition to standard home inspections, there is a large market for specialized inspections such as radon or mold screenings, water quality inspections, swimming pool inspections, termite inspections and more.
The bottom line is that a home inspection is a valuable real estate service that isn’t going away anytime soon. This makes it a smart franchise investment for those who want to own their own business in an industry with plenty of room for growth. When it comes to the home inspection business, there is more than meets the eye!
Kathleen Kuhn is President and CEO of HouseMaster and PatchMaster, two franchise brands in the home services industry with locations across North America. At HouseMaster, Kathleen oversees an organization with more than 320 franchise locations across the U.S. and Canada. HouseMaster has an average net promoter score (NPS) of 92, a near-perfect customer service mark that puts it ahead of the NPS of some of the most customer-centric organizations like Ritz-Carlton and Apple. And as the CEO of PatchMaster, Kathleen leads a new, fast growing drywall repair specialty concept with more than 50 locations signed in less than two years.