I am just starting my business.Got a great name(can not share sorry).I was wondering does anyone here do this full time or is it a part time thing.The reason I started doing this is there is no company in my area doing it right now.Here is what I was thingking for business model
1.I will charge $99 plus tax 2.Updates will be $5 3.Free consultation 4.(Do I need to give receipts I am guessing yes) 5.Do I take money when I do the work or when I bring them the report
Let me know if i will be under charging.(what do you charge and how many do you do weekly)
Thanks for all your help..
Hi,
I also think you are under pricing, as you will be spending a LOT of time in the home if you are photographing everything and your updates seem way to low as the cost of paper and printer ink, etc. will eat just about all of it.
Please go to my web site (listed below in my signature) and check my pricing, as well as looking at other member Inventory web sites. There are a lot of different ways to set your price, but I recommend you use the simplest method that works for both you and your clients. I've tried by the square foot, and many others, but have decided to charge by the number of bedrooms, or bedroom type rooms like a separate home office, etc. This makes it simple for the home owner to understand and figure out as most don't know their square footage and it isn't always easy to figure out.
Some of us were doing this full time and some part time. I say were, because your business depends on the area you live in. I was doing this and several of my other business's full time and doing VERY well in all of them until the economy dropped out. I was doing so well with the inventories that I had several of my friends working for me as Independent Contractors because I had more business then I could handle by myself. Since I live in one of the hardest hit areas of the nation, Reno Nevada with over 14% unemployment, people here are not spending money if they don't have to for fear of loosing their jobs. Right now, my business is not doing so well. BUT, as the economy improves and people start spending money again, it will pick up.
The thing you will have to do to generate business is to educate the people in your area about this industry, network with realtors, insurance agents and others, as well as consistent advertisement. I suggest you read everything you can in this board, as there is a lot of information on what to do as well as what not to do.
To answer your other questions, I ask for a deposit up front and then collect the balance due on delivery of the final product and yes, I give receipts as they might be able to use it for a discount on their home owners or renters insurance. It is also the professional thing to do. Check with your state department of taxation on what and how much is taxable. Here in Nevada, the inventory is NOT taxable, but the report, CD, etc is. There is nothing wrong with free consultation, but only charging $99 for the inventory, you are not making enough money to justify your time. Don't forget that you will be spending a lot of time in the home or business and some more in your office doing the report.
I understand wanting to keep your company name under wraps until your ready to get started and I'm looking forward to finding out what it is when you are ready.
I hope this answered your questions and good luck in your new business.
-- Edited by JD on Saturday 12th of February 2011 06:53:05 AM
I am brand new to this idea, so take what I say with a grain of salt.
From what I have read about the business there is a lot more to it then you listed.
Your pricing seems very low to me.
I went on here and visited some of the websites of the users of this formum and some of them have they're prices listed.I would suggest you look at them.
This business seems to be one where you can make a lot of money in the right area but since most people do not know about it then it will be a hard to start business you will probably need to put a lot into educating potential clients about the business.
Please do not be offended but from what you wrote I think you have a lot more research to do. It will benefit you because you should be able to make a lot more money.
I am just starting my business.Got a great name(can not share sorry).I was wondering does anyone here do this full time or is it a part time thing.The reason I started doing this is there is no company in my area doing it right now.Here is what I was thingking for business model
1.I will charge $99 plus tax 2.Updates will be $5 3.Free consultation 4.(Do I need to give receipts I am guessing yes) 5.Do I take money when I do the work or when I bring them the report
Let me know if i will be under charging.(what do you charge and how many do you do weekly)
