With the current housing market, many people are looking to enter the home inspection industry. Some may opt to do it as a side hustle, but if you want to get the most out of it, you can do home inspections as a full-time job.
A home inspection business can be profitable, but several requirements and training programs are necessary. Reports show that part-time inspectors can earn over $47,000 annually. However, if you do it full-time, you can make upwards of $97,000 to $3 million per year.
This guide will cover starting a home inspection business, the necessary tools, licensing requirements and the services you can offer.
What Is a Home Inspection Business?
A home inspection startup is a company providing thorough inspections of homes. Their customers include homeowners, home sellers and potential buyers. These companies inspect a property’s interior and exterior, looking for potential areas that may need to be repaired or corrected. After the inspection, the home inspector files a report to the client, providing all the details about the notations made and referring qualified specialists to verify the condition of their findings.
Benefits of Starting a Home Inspection Business
Some people ask how to start a home inspection business because of the perks of such an enterprise. Consider the following benefits:
- You can run the business from home.
- It doesn’t require a long history of professional experience.
- There are plenty of resources you can learn from to get started.
- The housing market has a growing demand for home inspector companies.
Home Inspection Startup Costs
When people ask “how to start my own home inspection business”, one of the first things that may come to mind is the cost involved. The price to set up a home inspector small business varies depending on the type of company being set up and where you’re located.
Here are some of the expected expense categories during the opening of a home inspection business(based on average market values):
- Home Inspection School/Training
- Licensing Equipment
- Home Inspection Software
- Marketing
On the low end, startup costs can average around $55,000 without any additional support. You can start with that amount and scale your operations as needed. On the high end, however, you may need to spend substantially more, which can give you a head start over the competition.
How to Start a Home Inspection Business
Starting a startup home inspection company will begin with the necessary training and certification. Then, you can run your business from home and work with a few customers until you can grow your enterprise.
- Certifications
- Market Research
- Home Inspection Software and Other Tools
- Branding
As you figure out how to start a home inspection business, you will have to consider a business name, register your business, set up a website, cover all the business licensing requirements, get your taxes in order and purchase business insurance. Many aspiring entrepreneurs opt to join successful home inspection franchises instead, saving time and money on branding and marketing costs.
An insurance policy will help to cover costs related to injuries due to workplace accidents. Some of the most common business insurance coverages include the following:
- Errors & Omissions Insurance
- Professional Liability Insurance
- General Liability Insurance
After getting the necessary insurance, you can start marketing your services. There are many channels and mediums available today through which your business can gain exposure. From trade shows, working with contractors and real estate agents, posting ads in local newspapers, and digital marketing through social media to setting up your website, the options are plentiful. Your goal is to generate enough leads to boost brand awareness and recognition and gain new clients.
Typically, your tasks for each client will include inspecting for the following:
- Damaged air conditioning
- Bad or damaged roofs
- Fire damage
- Gas leaks
- Electrical problems
- Termite damage
- Mold and mildew
- Structural damage
- Water damage
- & More
Scale Your Business Operations with a Proven Franchise
With all the information provided above, you have a great idea on what it takes to get started. But there is one thing that is missing which is continuous support and coaching in an industry that many people fail at due to their lack of experience. However, one of the best ways to start a home inspection business is to leverage a proven franchise model. At Morrison Plus Franchising, we have helped our franchisees scale their successful home inspection business. With over 15 years of professional experience, our brand offers affordable startup costs, financing, training and support. To learn more about these opportunities, call (866) 881-5027 or fill out this contact form.
