Working on starting my own business...

[AmpleSound]

Hey guys, any thoughts ideas, know how, as far as running a business.  Obviously I have a fair grasp, or I wouldn't be taking a stab at it.  Though I'm curious if any of you know someone or are in the home inspection business?

[Blutarsky]

Hey guys, any thoughts ideas, know how, as far as running a business.  Obviously I have a fair grasp, or I wouldn't be taking a stab at it.  Though I'm curious if any of you know someone or are in the home inspection business?

Can't help you as far as the home inspection business, but if you have other questions about running a small business, ask away.   

[Poe]

Before even considering open a business, go purchase a general ledger and study it until you understand it entirely.  That's the best advice I can give to any first time prospective business owner.

[501]

I was in residential construction for over 10 years. I may be able to help bud.

Learn all of the values of every building material. How far can you span a 2x10 joist without supporting the middle?  Learn the proper construction of load bearing walls in all situations. If someone replaces their laminated counter tops with granite how does that affect the floor system?

You need to learn proper amperage for each wire size or gauge and how many fixtures can one 20 amp breaker handle. You will also need to learn how to properly wire and identify a 3 way switch and how to trouble shoot electrical junction boxes.

Learn how to test water for acidity and hardness. Water with high acidity can corrode copper pipe from the inside causing pinhole leaks in the entire home. Water with alot of minerals can destroy plumbing fixtures and water heaters. When a contractor adds a bathroom to a home you need to make sure they have used the appropriate sized pipe for good pressure.

You should also take some classes on mold in residential applications. How does it grow and how do you kill it?

More than anything advertise. Get a webpage. You need an 800 number. You need company vehicles with your advertising, a logo and a catch phrase. Try advertising with local restaurants and grocery stores. A BILLBOARD!! lmao

[AmpleSound]

Well I have an Associates Degree in Architecture so I've got an "in" so to speak.  Drew houses for years, and know quite a bit about structure.  The electrical part is the tricky part for me... I know it's pretty standard once you get the hang of it, though that's my issue is getting the hang of it.  I'm currently doing what they call a "Masters" course in Home Inspection.  So it will teach me/certify me about/in mold and remediation, as well as radon testing if I so choose to offer those types of services.  Luckily most everything in regards to a home inspection is all recommendation if there are questionable items, such as foundation cracking/shifting, negative grade, etc.  Identifying a 3-way is easy, wiring on the other hand that's where I draw blanks...  Fortunately the most water testing I'll do is pressure tests if I find it necessary. 

Honestly Poe, I understand the challenges ahead, though I'm up for them.  Tired of bosses that I wouldn't trust with my plastic fork.  My job is also going away in the very near future, and there aren't a lot of drafting jobs around if at all.  No matter the home market, people are still buying, and I feel I already have my foot in the door, so to speak.  I will look into a general ledger just to get an idea of what you're talking about though.

Advertising is going to be the fun part, though my girlfriend knows enough about that too so that's a plus!   Blu, have you written a business plan for your company?  I'm wanting to write a good strong business plan to help me with taking advantage of the many available grants for starting a small business.  Though I also would just like one to have as a good foundation for my company.  Even if I am the only employee ever working for it .

[501]

The more you know and can recommend the better your reputation will be. :-)

Plumbing and electric are major components to a home. Understanding different types of pipe and sewer systems is a big deal around here. Types of wire and loads is very important for fire safety. Understanding gas appliances and proper venting could save a family from carbon monoxide poisoning. You should learn about everything in order to excel at your job.

[AmpleSound]

The more you know and can recommend the better your reputation will be. :-)

Plumbing and electric are major components to a home. Understanding different types of pipe and sewer systems is a big deal around here. Types of wire and loads is very important for fire safety. Understanding gas appliances and proper venting could save a family from carbon monoxide poisoning. You should learn about everything in order to excel at your job.

I couldn't agree more!  Right now I'm holding about a 96% average through my basic home inspectors course, through 8 of the 15 lessons.  The fun part will be in a month or so when I begin to set up the actual business.  Though I definitely want to have a good solid foundation on all factors of a home inspection.  Plumbing is pretty straight forward, and I'm finding that checklists are key for documenting everything necessary and within the means of a home inspection.

[Blutarsky]

Advertising is going to be the fun part, though my girlfriend knows enough about that too so that's a plus!   Blu, have you written a business plan for your company?  I'm wanting to write a good strong business plan to help me with taking advantage of the many available grants for starting a small business.  Though I also would just like one to have as a good foundation for my company.  Even if I am the only employee ever working for it .

No, I've never had the need to write up a formal business plan, but in your case (going for the grant), it's a great idea.   Here's a link to a Canadian site.   The guidelines will be similar and I'd suggest going to the library where they'll be lots of books on the subject.

http://www.canadabusiness.ca/eng/86/4877/

As 501 said, a website nowadays is a must for most businesses.  And once you get yourself going, you should probably use LinkedIn.   

http://www.linkedin.com/home?trk=hb_home

Also, once your site is up and running, your area should have some kind of master site listing all the Home Inspectors.  Make sure you get on at least one of these sites. 

I wouldn't waste my time using flyers for advertising.  Too expensive for the return you'd get.  As you probably already know, connect yourself with as many as you can within the business, so have lots of business cards. 

Make sure you keep all your receipts.  You'll be happily amazed at what you can write off.  Your vehicle will be a biggie. 

And make sure you return all potential client calls asap.  People appreciate that more than you think. 

Most important, figure out the financial aspects, or your bottom line, as they like to say.  Better to underestimate your earnings and overestimate your costs than the other way around. 



Bathe frequently. 

["RIVERS"]

Who ever told you to 'bath frequently' is a fucking idiot. Look, nothing smells more real than an unwashed pitchman. Trust me, the more you stink the better folks will relate to you.

[Blutarsky]

Who ever told you to 'bath frequently' is a fucking idiot. Look, nothing smells more real than an unwashed pitchman. Trust me, the more you stink the better folks will relate to you.

Your confusing your job as a panhandler with real work. 

["RIVERS"]

Your confusing your job as a panhandler with real work. 

Crap...you foiled me again.

["RIVERS"]

I couldn't agree more!  Right now I'm holding about a 96% average through my basic home inspectors course, through 8 of the 15 lessons.  The fun part will be in a month or so when I begin to set up the actual business.  Though I definitely want to have a good solid foundation on all factors of a home inspection.  Plumbing is pretty straight forward, and I'm finding that checklists are key for documenting everything necessary and within the means of a home inspection.

In the mean time, it might be time to 'build' your brand. There are several ways to do that. Social Media brought down a few countries. Look at some options. "Word Press" is an open source media that you can create your own magazine and then link it to all your social media--Twitter, Facebook, etc.  But wait until you have an audience

 Facebook sucks and is irrelevant as far as I'm concerned.

I love the power of 'Twittter'...I  have folks calling me because of my 'tweets' ....but my philosophy is different as far as Twitter goes. I have a select demographic who 'follow' me and I have superstars who 'tweet' back to me. It's important to have people with 1,000's of 'followers' tweeting YOU. I know how to do that.


Think about the most influential people within 25 miles of you, they can help you, you can help them. Don't be afraid to call them and tell them that.

[AmpleSound]

I need a damn ladder . Trying to find a little giant, best price is off ebay for $250 or so.  Which I pretty much have to save any of my extra money for fines coming up in June.  Then a there's a slew of other things I'll need, oh joy!   Close to being done with my Basic Home Inspectors course, just need to do the field exercises and the final exam.  Which I need those items in order to do the field exercises.  Guess I can always use the grant to buy a company vehicle, since I'll probably have all the tools I need by then.

[Evans]

  Well, first of all, hopefully the type of business you want to start will not be #396 of the same in town.....   In other words, if there are 14 Chevy dealers in town, don't be the 15th..........Try and pick out one that is NOT on every corner..........

[AmpleSound]

  Well, first of all, hopefully the type of business you want to start will not be #396 of the same in town.....   In other words, if there are 14 Chevy dealers in town, don't be the 15th..........Try and pick out one that is NOT on every corner..........

Fortunately there are a lot of corners in the Denver metro area.  So with 3 million plus people I'm hoping I can get my foot in the door with Home Inspecting for buyers.