Home inspection franchise helps all kinds of people start and build businesses. Growing demand, lack of inspectors, low startup costs make it a strong opportunity.
WIN Strategic-Partners come from a wide variety of backgrounds. Some grew tired of climbing the corporate ladder. Others wanted the freedom of being self-employed. More than 25% of our franchisees are military veterans. All of them discovered new opportunities with WIN.
Here are three reasons why WIN may be the career you never thought of.
1. Demand is soaring
The housing downturn is history, and sales are skyrocketing. An estimated 5.26 million homes were sold in 2014, not counting new homes sold by builders, according to data from the National Association of Realtors. More than three-fourths of buyers — 77% to be exact — paid for a home inspection before making their purchase.
That adds up to more than 4 million home inspections per year. Home sales are expected to continue at a fast pace thanks to a stronger economy and other factors, says Lawrence Yun, chief economist for the NAR.
“Buyers continue to be encouraged by interest rates at lows not seen since last summer, improving levels of inventory and stabilizing price growth,” he says.
2. Opportunities are growing
There aren’t enough home inspectors to meet the demand, and that’s creating opportunities for WIN Strategic-Partners to build relationships with Realtors and earn market share.
The Baby Boomers who built the home inspection industry are retiring in growing numbers. In 2011, the first Boomers turned 65, and between now and 2030 they will reach that age at a rate of about 8,000 a day, according to the AARP. That is opening the door for a new generation of home inspectors.
“The opportunity is great,” says James Price, a 26-year-old National Guard veteran who operates in Lubbock, Texas. “I did some research the other day and learned there are 115,000 real estate agents and brokers in the state of Texas, but there are just 2,300 home inspectors. There aren’t enough home inspectors to handle it all! That’s why some inspectors get away with not having great customer service. But if you have a franchise and a system and are professional, you are set up for success.”
3. An affordable career path
Unlike franchise businesses that require an upfront investment of hundreds of thousands of dollars, WIN is affordable. Franchisees need liquid capital of $20,000 and net worth of $30,000. The total investment is between $32,900 and $53,500.
WIN offers in-house financing for qualified franchisees. Military veterans can qualify for substantially reduced franchise fees under the WIN for America program. WIN for America offers Gold and Silver level awards, which reduce the franchise fee by 50% and 25%, respectively.
WIN for America helped Navy veteran David Schalm launch his franchise in Dayton, Ohio.
“I started researching the startup of a home inspection business and came across WIN, who was advertising themselves as a veteran-friendly franchise,” says David. “I began discussions with WIN (through the WIN discovery process), and it did not take long to see that WIN had very similar values to me, including a commitment to superb customer service and a high degree of integrity. The fact that WIN provided a reduced franchise fee for veterans was a welcome benefit.”