Choosing A Business

Q: I’m looking to start a home appraisal business. Is that a good move?

A: It would seem that the boom in home buying will not stop anytime soon and so the home inspection business will continue to grow or at least sustain itself.

The questions I would be asking myself if I were you are:

  • What makes me suited for this business?
  • How will I be able to separate myself from the competition?
  • What can I do marketing-wise to build the business?
  • Do I have the financial resources to do so?
  • What relationships do I have that can be leveraged to acquire customers?

The home inspection business is lucrative but very competitive.
Furthermore, starting a business is always a risky venture.

While I like the model of this type of business, I would highly recommend that you consider purchasing an existing one with customers and contacts (and sometimes contracts) in place rather than starting from scratch.

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