Newbie considering buying a HI business-advice please!

[Michelle S. Cousins]

Hello everyone,
I have just found this forum and am hoping you can give me the advice I need.
I am currently in the UK and aiming to buy an established business in the US, kind of a "fresh start" thing. This will mean going into a new line of work, and HI is one of the things I have been considering. Now, because of visa restrictions that will be applied to me initially I would be unable to actually carry out the inspections myself, even though I would obviously be capable. Whatever business I enter I will have to have set up so that I can passively manage it. Now I realise this rules out the majority of HI companies for sale as they are one man bands but there is one I have seen which looks good on paper, 3 years good tax returns and reduced in price too (Ft. Myers, FL) and currently has 2 FT and 1 PT inspectors working as well as the owner.
Theoretically I could employ another inspector and do the admin/scheduling myself. Does this sound feasible or would I be diving head first into shark-infested seas I have been searching all the comments regarding newbie HI's and found some really useful stuff, I have been bitten in business before by someone I considered a friend so intend to check things out as thoroughly as possible from all angles. I guess one of the major pluses of this industry is I could stay solely in control of the company checkbook and would be employing professional type people capable of working on their own initiative so wouldn't be having to be breathing down their necks all the time. I have friends doing vacation rental management who spend their entire working day making sure the lead workforce are doing their jobs properly, which is very frustrating for them.
Any comments would be greatly appreciated.
Thanks in advance,
Michelle.

[Douglas Cossar]

Hello Michelle:

I'm not sure how things work in Florida but up here in Canada customers and agents make a connection through personal rapport with the inspector or company owner, not so much with the company or brand.

You may not be able to "passively" manage the operation. I think you may have to get out and market "yourself"

I've seen many companies loose business due to a change in management

Hope this helps and good luck

Cheers

[Roy D. Cooke, Sr]

I have seen franchises fail in my area and they had owners who new the area and new the business .
This seems to happen fairly regularly .
I would look back in this BB and the ark hives there are many comments
.

Roy Cooke

[Michelle S. Cousins]

Thanks for your replies, much appreciated.
I think this has maybe highlighted a difference between the British way of business and the N. American, I've noticed that it's normal for HI's to put their pics on their websites whereas over here biz owners wouldn't dream of doing that. Also, who does our surveys is dictated by the mortgage lender who will want just the basic report (my last one 3 years ago cost the equivalent of $1200!!) and if you want a fuller one you would just add it on to the basic one rather than choosing your own (and you would be saying goodbye to around $5k in the process).
I totally understand what you are saying about people expecting to be seeing the owner doing the inspection, it was just with that particular biz as an example, it covers 2 counties and employs 3 inspectors so any customer would only ever have a 25% chance of being dealt with by the owner. It could also be that 2 work one county and 2 the other, if you are in the "wrong" county you will have zero chance of seeing the owner. I guess it depends on how the firm markets itself and whether the employees are all long term and well known to customers in their own right.
Food for thought...

[Brian E. Kelly]

Michelle, I cover three counties and with you it would be two inspectors. I will gladly sell you my business for $200,000.00, and even through in some logo work shirts and a couple of web pages.
Hopefully you are not going to be a real stickler on the tax return thing as that may pose a problem.

The waters may be a little sharky..................

[Michelle S. Cousins]

$200,000 sounds a bargain to me, where do I sign?

(cue Jaws music...)

[poliner]

Good Luck
Used to live in Zennor, Cornwall is a magnificent place

[Brian E. Kelly]

Originally Posted by Michelle S. Cousins

$200,000 sounds a bargain to me, where do I sign?

(cue Jaws music...)

Send your funds to the Nigierian Minister of Home Inspection Finance.

[Michelle S. Cousins]

Small world, Paul. I'm in Perranporth, not too far up the coast.
You're right, Cornwall is a beautiful place but this country has totally gone to the dogs, record numbers emigrating every year. I love Vancouver, I used to be airline crew and found myself visiting rather the place a lot, being on standby always meant a little trip to either Seattle or Vancouver!

[Michelle S. Cousins]

Ok Brian, the money's on it's way...I must say I am very keen for this to be a mutually beneficial and honorable transaction uniting our two esteemed countries in deepest harmony, therefore I am sending you $300,000 as an expression of trust and would like you to expedite the returning to me of the overpayment of $100,000 by pony express. I urge your respectful confidentiality in this transaction.
God bless you and your family,
Michelle NmgobowagoluluCousins.

[wforsyth]

Oh TOUCHE'!!!

I think she's PERFECT for the business!!!

[Roy D. Cooke, Sr]

Originally Posted by Michelle S. Cousins

Ok Brian, the money's on it's way...I must say I am very keen for this to be a mutually beneficial and honorable transaction uniting our two esteemed countries in deepest harmony, therefore I am sending you $300,000 as an expression of trust and would like you to expedite the returning to me of the overpayment of $100,000 by pony express. I urge your respectful confidentiality in this transaction.
God bless you and your family,
Michelle NmgobowagoluluCousins.

Love it the British humor is still the greatest in the world.

Roy Cooke ...Canada sorry we are no longer red on the globe

[Jeffrey R. Jonas]

Originally Posted by wforsyth

Oh TOUCHE'!!!

I think she's PERFECT for the business!!!

Yeah...kinda 'spunky' isn't she?

Hmmm...reminds me of someone else...

[Brian E. Kelly]

Originally Posted by Michelle S. Cousins

Ok Brian, the money's on it's way...I must say I am very keen for this to be a mutually beneficial and honorable transaction uniting our two esteemed countries in deepest harmony, therefore I am sending you $300,000 as an expression of trust and would like you to expedite the returning to me of the overpayment of $100,000 by pony express. I urge your respectful confidentiality in this transaction.
God bless you and your family,
Michelle NmgobowagoluluCousins.

The check is in the mail Old China, My Irish Grandfather would turn in his grave if he knew I doublecrossed a POM.

Brian E. Kellymumbo

PS I generally charge a little extra for "Harmonious Transactions" (Happy Endings here), but I like the cut of your Jib and will waive the usual fees.

[wforsyth]

Originally Posted by jjonas

Yeah...kinda 'spunky' isn't she?

Hmmm...reminds me of someone else...

I like it...I like it ALOT!