Thread: Plans for inpection business 2008

Hi, I am new here and I look foward to learning as much as I can. I am scheduled to go to HI classes in February and then I will purchase insurance and take the Indiana state exam.

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Welcome aboard! As far as I know, there are not too many people that chat from Indiana. I see your in the Indianapolis area. It will be nice when you have to take classes since most of them are in that area. If you have any questions, just ask away and if you have any questions specific to Indiana, I might be able to help.

You couldn't have picked a better time to jump into the biz.

Thats great news!

Jason, Jason, you have to read the emoticons. That little face with the smirk that Rick posted is sarcastic. Don't quit your day job, business is tough now.

Originally Posted by Jason Wright

Thats great news!

Jason,

So young, So Enthusiastic, So Much to Learn.

Welcome.

Jason, don't listen to them. You haven't even started class yet so by the time you get done and all set up, your area can have a good market. Around here things went from not doing hardly anything when it came to advertising to now having to sell my service over the other home inspection companies. Around here, the market still allows me to support my business and family and support my wifes business (we take any money she makes and put it into savings).

Maybe 2008 would be an ok year to jump into the biz. There should be plenty opportunity with many of the current HI newbies jumping ship.

Maybe Peck saw this coming.

rick

The winter months are historically slow anyway, add the soft housing market and it is even slower in many areas of the country. Starting a HI business in late winter or early spring might be a good move. Just realize that this is a tough profession. We have over a 90% failure rate for folks in their first year. The profit does not really start till your third year in the business.

Good luck, and as others have said do not quit your day job.

[QUOTE=Scott Patterson;24364] The profit does not really start till your third year in the business. [QUOTE]

According to the boss' accounting method, I'm at least 15-20 years away from realizing this.

Perhaps I should have said "hopes for profit do not begin till your third year", this is more realistic!!

... and the HI schools are still producing 'pie in the sky' riches to be made.

As we all know we have to continually work hard and market and watch expenses, etc., etc.

Anything but a quick buck. I'm so very glad I started out with a realistic foundation (oops ...) view and plan.

Like others have said...

From late November til Mid January are historically slower months (Dec and early Jan are really slow).

Now, add-the real estate market and the market issues become apparent. Hope the wife's job and benefits are very stable and good for a while.

I don't think anyone here is trying to dissuade you from getting into the business... all these folks and myself are trying to let you know what is REAL vs some (otherwise optimistic) expectations that could be a real awakening when they materialize.

Everyone here is basically dedicated to helping the others when we can. That includes those trying to enter the profession, such as yourself.

Take care, and we look forward to hearing how your classes/ training is progressing. Feel free to ask and post questions when needed. There will always be somone here to help you in this endeavour.

Rich

I appreciate the words of caution and support as well. In my slightly younger days I successfully ran my own landscaping business for 6 years and quit so I could obtain a few degrees. Now that I am about done with school for good, I have a desire to start my own business again, but obviously in a different profession. I have a well paying job with benefits now so I don't have expectations or the needs of large profits anytime soon. I know that establishing a business and a reputation take time and I am going to have plenty of that. I will not go out of business in the 1st two years and I look foward to getting to know all of you better. We can all grow and learn from each other. Sound good? I hope so and I am in it to stay.