Home inspection franchises have become more and more popular, because of their significant growth potential. The reason, is that home inspections - once quite rare - now occur in increasing numbers of home sales every year. Believe it or not, an alarming majority of realtors (99% according to a National Realtor Association Study) encourage their buyers to get them! US GEO estimates that, "94% of buyers are likely to get a home inspection for future purchases." That's an tremendous number of home inspections! That's also a great deal of income potential forpeople thinking about an investment into a home inspection franchise. What is also exciting is the fact that, in today's world, both sellers and buyers realize the benefits of a home inspection. Buyers understand that it provides protection for their investment. People selling a home realize that pre-listing inspections are important for preventing re-negotiations and surprises, and are proven to sell homes in less time and for greater sums of money. Now that more people realize they NEED a home inspection, many home inspectors are closing more sales with less time, money, and effort. The question is: what makes a great home inspection franchise? Here are some critical things that separate the best opportunities from the rest.. A Powerful Competitive Advantage: In many locations, home inspectors are all over the place, so in order to be very successful, an inspector needs a competitive advantage over other companies. A great home inspection franchise will provide this competitive advantage right off the bat. Things like advanced inspector certifications, inspection comprehensiveness, and powerful, marketable guarantees can really drive customers to your door. Some inspection services sell themselves over the competition - many do not. Turnkey Marketing Plan: When choosing a home inspection franchise, be certain that they give their franchisees a stey by step marketing plan. There's nothing worse than investing in a franchise and discovering that there isn't much marketing help, collateral, tools, or a proven plan to land a regular flow of new customers. The franchise YOU decide on should provide this step by step plan to you, including proven marketing pieces, sales campaigns, websites, and much more. Experience and Reputation Just because a company is looking for franchisees, doesn't mean they've got a business worth buying. Make sure the company that you're considering has withstood the test of time and is well known in the marketplace. Look at who launched the company and the experience they have in the industry. Realtor Focus Realtors are in a unique position to deliver inspection professionals a great deal of business. Is the franchise you're looking into aware of this? Are they taking this into account? Do they have a marketing plan for generating consistent referrals from real estate agents in your town? You'll have a much easier time if they do. Rights to an Exclusive Territory Nothing is worse than buying a franchise and discovering that there is another business owner fighting for clients in your area! A franchise that truly cares for its franchisees will issue you an exclusive territory in which to grow. This is vital to your success! Quotas A lot of franchises charge what's known as a "sliding scale royalty fee" based on their franchisees' weekly sales, usually in the range of 6 and 9 percent (it's kind of like "taxing" success) not to mention co-op advertising fees of 1-3 percent. On top of that, some franchises demand a monthly minimum or "quota" that must be reached. Policies like these lead to financial stress on the franchisee -- and regardless, it's hard to see how penalizing your business owners (making them give up more of their profits as their sales grow) is fair. Be sure that you understand and agree with the royalties and fees your home inspection franchise plans to charge you. Or better yet, choose a company that doesn't charge quotas at all†and that charges just a flat fee!
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