By Greg Haskett, Vice President of Shared ServicesMany might think that now is the wrong time to get into franchising. The economy is suffering, the real estate market is in the dumps and people think, “Why would I start a business in this type of volatile market?”
But, now is exactly the right time to jump on board. Why? First, the market is only going up. Now is the time to establish your new business as a legitimate business so that when the market bounces back, your business will already be known, your service will already speak for itself and in the height of it all, you will capitalize much more than starting afresh in a stable economy.
Second, the home inspection industry is becoming more professional every day. If we look back to 1994, 25% of homes were inspected prior to the sale of the home. Now, 90% of all homes are inspected prior to the sale. Home inspectors are becoming a necessary asset for the homeowners, homebuyers and Realtors; home inspectors are an extension of the Realtor’s team. In addition, home inspectors are required to be licensed in 35 states and the remaining 15 states are putting laws in place to require licensing for home inspectors. This industry is becoming more professional by the day and the sale of 90% of homes in the US rely on home inspectors.
Finally, additional services are emerging within the home inspection industry that create additional revenue streams for the inspectors. These services include radon testing, mold testing, energy audits, water testing, lead testing, storm assessments and more.
Though opening a new business in a down economy may seem tough, HomeTeam Inspection Service supports new franchisees before, during and after the opening to ensure success. Over the next two weeks, we’ll discuss our Fast Start and The Academy programs which are support programs to help new franchisees from the time they become a franchisee through the first year of operation.
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