While the experts continue to argue over when the recession will hit the US economy, and how long it will last, you’ve still got a home inspection business to run. And between inflation driving up your operating costs, and high interest rates slowing the real estate market, chances are that surviving the recession is your number one priority.
To help you not only survive, but thrive during the impending economic downturn, we’ve assembled 5 recession survival tips for home inspectors, just like you. So, if you’re ready to recession-proof your home inspection business, let’s get started!
The first survival tip starts with improving your online presence. Whether you rely on a website or social media platform to connect with prospects, when was the last time you posted an update?
Regular and consistent blogging is an easy way to improve your page rank and tap into the free organic traffic looking for your home inspection services.
Whatever your hours of operation, be sure to be available via phone, text, and email for your prospects and customers during that time. Providing a timely reply demonstrates a solid commitment to your customer’s needs and separates you from those with a standard 24–48-hour response time.
Capitalize on customer experience and satisfaction by asking for reviews and testimonials you can post at your website or landing page.
Platforms like LinkedIn, Alignable, and NextDoor allow you to create a free business profile to connect with potential prospects such as local real estate agents, loan officers, and escrow agents.
While home inspection services for real estate transactions will remain your bread and butter, there are several complimentary services that are relatively easy to add to an existing home inspection business:
As you can see, there are numerous “non-traditional” inspection service opportunities for home inspectors with construction experience and a bit of creativity.
There are several steps that home inspectors can take to streamline their business operations and reduce potential penalties and late fees.
Since most of the world has gone digital, there’s no need to print out forms, sign checks, or go to the post office. In most areas of the country, you can pay the following expenses online.
The best construction apps typically include a free trial, so you can test out the features yourself before committing to a membership or purchase.
Chances are that you outsource several business services such as your accounting, marketing/advertising, and probably your website maintenance, too. And while we don’t suggest becoming a CPA to save on your tax prep fees, a little education can go a long way when running a business.
A basic SEO course can help your website rank better through simple changes you can make to your page content or website structure.
A copywriting course can help you write blog posts that people want to read and share.
A social media management class can help you understand the best practices for getting likes and shares for your posts and updates.
A UX (user experience) class can make your website intuitive and easy-to-navigate, reducing bounce rate and increasing the length of each visitor’s stay on your page.
Platforms like Youtube, MasterClass, Udemy, and Skillshare have thousands of courses and instructors ready 24 hours a day. Many are free or low-cost to attend and some offer a credential or badge upon completion.
None of us expected to face a recession so quickly after the pandemic, but here we are. The effects of the recession will vary greatly, depending on your location and local economy, so exercise some additional patience and persistence over the next few months.
In the meantime, choose one of the survival tips and get started recession proofing your home inspection business, today.
Or read our guide on why you should be adding Indoor Air Quality Inspections to your menu of services.
Team Lead Marketing