WIN franchisees have a bright future in a booming home inspection industry
WIN’s services are in demand, profitable and professional
A strengthening economy and continued upward trend for home sales is a winning combo for the professional home inspection industry. Home sales rose 19% from 2010 to 2014, and the National Association of Realtors predicts existing-home sales to finish 2015 at 5.3 million — the highest level since 2006.
WIN Home Inspection franchise owners charge an average of $375 per inspection. Combine that number with the number of projected home sales and it paints a portrait of an industry that is worth nearly $1.8 billion a year and growing. With affordable startup costs and a market primed for growth, now is the perfect time to launch a WIN Home Inspection franchise, ranked as a top franchise opportunity by Entrepreneur magazine, Franchise Business Review and G.I. Jobs.
1. High demand for home inspections
1. High demand for home inspections
Home inspections are now considered a normal part of a home purchase. According to the National Association of Realtors, 99% of real estate agents recommend that clients purchase a home inspection, with more than three-fourths of home buyers heeding that advice. It wasn’t always this way; 30 years ago the idea of hiring someone to inspect a home was new to the market.
Rising home sales also mean rising demand for home inspections. The pent-up demand for buying in recent years finally broke out in 2015, fueled by sustained job growth in many parts of the country and rising home values giving more homeowners the incentive to sell – a trend that the National Association of Realtors expects to continue in 2016. Zillow, which tracks the housing market, says that by the end of 2015, Millennials — people younger than 35 — will overtake Gen X — those 35 to 50 — as the largest group of homebuyers. Zillow reports that 42% of them want to purchase a house in the next one to five years.
2. WIN has a track record of profits
WIN has continued plans to expand, with franchises in 29 states and growing. WIN franchise owners can work from home and have very low overhead — not much more than the cost of a vehicle and gasoline, internet and a cell phone. Most franchise owners are owner-operators, so they don’t have to worry about HR expenses or managing employee issues such as hiring and firing. They keep most of what they earn. In 2014, WIN franchisees brought in an average annual revenue of $115,493.
WIN franchisees also operate as Strategic-Partners, not as competitors, within the WIN franchisee family. If a WIN owner is booked on a day when one of their real estate agents needs to schedule a home inspection, they will refer the job to another WIN owner who is available.
3. WIN offers professional standards
Training, technology and marketing support help WIN franchise owners establish loyal relationships in the real estate industry that lead to a steady influx of customer referrals. WIN’s proprietary software platform, WINspect, was a breakthrough for the industry when it debuted in 2001 and has radically sped up the process of conducting an inspection and providing a finished report. WINspect provides WIN inspectors with a system-by-system checklist for homes enabling them to make quick notes as they perform the inspection.Those notes, as well as photos taken by the inspector, then feed into the WIN Home Inspection report, which is delivered to the buyer. The software allows an inspector to quickly generate the final inspection report — sometimes the report is delivered before the inspector even leaves the home!
WIN comprehensive training covers different types of marketing techniques, sales and public relations strategies, target audiences for franchisee messages and ways to clearly differentiate WIN from competitors in messaging. Behind the scenes, WIN provides many other tools that help a franchisee become profitable and grow their business, including customized websites that are optimized for search engines, mobile sites optimized for smart phones, and social media marketing support and PR. And WIN home inspectors arrive at customers’ homes in a professional and uniformly branded white crossover or SUV.
James Price, a Strategic-Partner in Lubbock, Texas, is just one of many successful franchisees benefitting from WIN’s rapid growth.
“I did a business plan and made a three-year projection that figured I’d be getting a set number of home inspections a month by year three. Well, at six months I started hitting my monthly goal, and I haven’t stopped hitting it since. I’ve jumped far past all my projections for my first year. It’s really exciting to be part of a fast-growing business.”