People hire the services of home inspectors for a number of reasons. Often, before purchasing a new house, these professionals are called in to survey the dwelling, looking for structural damage and performing interior and exterior checks. It’s a process that is repeated across the country day in and day out. But few people think of these home inspectors as employees of a multi-million dollar industry. Fewer still would equate home inspection to businesses such as McDonalds, Supercuts and Jiffy Lube. But just like these aforementioned organizations, home inspection offers franchise investment opportunities.
And these opportunities are rich in potential for growth. It’s already a $2 billion a year industry and all signs point to an even brighter future. Plus, the franchisee does not need to have a real estate or home inspection background to make his or her operation a success. Here are some other reasons that make home inspection an attractive franchise option.
Low Startup Costs
Unlike the restaurant or retail industries, franchises in the home inspection sector can often be had for a song. AmeriSpec, for example, offers franchises starting at $41,000, including fees. Not only that, but many of these kinds of operations offer financing to interested investors. The royalty fees for home inspection franchises are also low, ranging between five and ten percent.
It was mentioned above that the franchise owner does not need to have previous home inspection experience. Most franchisors in this sector offer 1-2 week training courses that cover everything the investor needs to know to get him or her up and running. Many companies also offer continuous online support to their franchisees whenever they need it.
On top of providing the franchisee with all the proprietary technology tools he or she needs, companies offer detailed business support as well. In fact, many provide the services of a dedicated business manager to the investor whenever he or she may need their help.
Work from Home
By nature, home inspection companies are small operations. In fact, most franchises can be operated using five employees or less – sometimes just one. This allows the owner to set up and run the operation right from his or her home.
By investing in a home-inspection franchise, the owner will receive the full force of the company’s marketing power. And many of these companies take a two-pronged approach to their advertising strategy. They market to the average home buyer as well as real estate agents. This is due to the fact that most potential buyers hear about inspection services through the agent, therefore it makes sense to focus the thrust of the marketing to this segment in order to establish the brand with a recurring sales channel.
These are just a few reasons those who are thinking about investing in a franchise should look outside of the restaurant, retail and automotive world and into those corners of the industry unexploited by excess competition. It is in areas like the home inspection sector where investors will find outfits with comparatively simple and quick ramp up, while also providing some of the biggest potential for growth.
Andrew Ewing is a professional blogger that shares tips and advice about franchising topics. He writes for FranchiseExpo.com, a leading franchise directory.