Growing your own home inspection business is hard. Really hard.
Not to mention the whole COVID thing - which made it extremely hard on new home inspection companies.
Some new home inspectors are opting for joining a multi-inspector company that can weather the storm.
Some see this as an opportunity, as many great businesses are born in a recession.
No matter which direction you go here are some pros and cons of going at it solo vs. joining a larger home inspection company.
Pros
- You are building personal relationships based on your personality
- Your outputs (financial, pride of ownership, freedom) are a direct reflection of your inputs (time, energy, effort)
- You can choose when to work more/less
- You can make changes quickly
- You are building business value that could be sold someday
Cons
- You wear all hats - marketing, customer service, sales, technology, home inspector
- Slow times can put your business at risk
- Everyone wants to talk to you
- You might have to outsource areas of your business
- No time for marketing to agents
Joining a Multi-inspector Company
Pros
- You get to only inspect homes - no marketing, scheduling, email follow ups, etc.
- Resources - you have mentorship and a team to work with
- Job security in all economic times
- Existing and long-lasting relationships with brokerage offices
- Ability to grow into leadership roles (inspector manager, operations)
Cons
- Upside is capped - you get paid hourly or a flat fee per inspection
- No direct control over how many jobs you get
- You won't make business-level decisions (could be a pro if you don't want that responsibility)
If you're a new home inspector struggling to get to cruising altitude - check out Spectora Jobs marketplace. Joining a larger team can be a great way to stay in the industry and learn the ropes in a stable environment.
Did I miss any pros or cons? Which do you think is better?
