Strategy and Implementation Summary
Inspection Connection will focus on the following to establish and grow the business:
- Acquire associations in the Real Estate industry
- Offer Niche services
- Direct marketing
- Community involvement
5.1 Competitive Edge
Currently in the home Inspection industry, specifically in Connecticut, there is not much need for a competitive edge due to the very high ratio of Home Sales to Licensed Inspectors. Inspection Connection will try to gain somewhat of a competitive edge by offering Maintenance Inspection services for the Owner Segment, a segment which is relatively new and not currently being heavily marketed to by existing Home Inspection Businesses.
The following table and chart indicate some of the milestones that have been or will need to be met before Inspection Connection is fully operational. The CT License Internship is only necessary for Inspection Connection to provide services in CT. Inspection Connection intends to provide services in NY while performing the CT Internship.
|Milestone||Start Date||End Date||Budget||Manager||Department|
|Identity Creation (Name / Logo)||2/12/2005||2/21/2005||$259||Clouseau||N/A|
|Internship Registration Fee Due||3/15/2005||3/15/2005||$14,000||Clouseau||N/A|
|Contact Citizens News||4/1/2005||4/30/2005||$0||Clouseau||N/A|
|Marketing Material Design||5/7/2009||6/6/2009||$500||Clouseau||N/A|
|CT License Internship||5/1/2005||12/31/2005||$0||Clouseau||N/A|
5.3 Marketing Strategy
Inspection Connection will adopt the following marketing Strategy:
- Maintain a website containing useful information and links for Buyers, Sellers and Owners; possibly an online scheduling system for scheduling Inspection Services
- The owner will write a column for the local Citizens News and possibly maintain an advertising block in the Citizens News.
- The owner will attend ASHI meetings as well as Real Estate Association events and meetings to promote visibility
- Bulk Mailing of postcards to specific ZIP codes to market Maintenance Inspections
- I will become active in the community by sponsoring educational seminars and attending community events
5.4 Sales Strategy
My Home Inspection, LLC’s sales strategy is very simple; the prospective client MUST speak with a person when they call. Inspection Connection will contract with an answering service so that every call is handled by a live person who can answer questions and complete the scheduling.
In the future Inspection Connection may offer an Online Scheduling option to customers. If this option is implemented the following implementation details will be addressed:
- The scheduling application will be Secure
- Clients that schedule a service through the website will be contacted via phone and email to verify the appointment.
5.4.1 Sales Forecast
The Sales Forecast is based on the minimum dollar amount of $450 per inspection. A percentage of the clients will be choosing add-on services which will increase the total price of the Inspection. Thus the projected monthly and annual sales could be much higher than the table indicates.
|Year 1||Year 2||Year 3|
|Buyer Home Inspection||83||120||120|
|Pre-Listing Home Inspection||12||12||12|
|Total Unit Sales||225||372||372|
|Unit Prices||Year 1||Year 2||Year 3|
|Buyer Home Inspection||$450.00||$450.00||$450.00|
|Pre-Listing Home Inspection||$450.00||$450.00||$450.00|
|Buyer Home Inspection||$37,350||$54,000||$54,000|
|Pre-Listing Home Inspection||$5,400||$5,400||$5,400|
|Direct Unit Costs||Year 1||Year 2||Year 3|
|Buyer Home Inspection||$45.00||$45.00||$45.00|
|Pre-Listing Home Inspection||$45.00||$45.00||$45.00|
|Direct Cost of Sales|
|Buyer Home Inspection||$3,735||$5,400||$5,400|
|Pre-Listing Home Inspection||$540||$540||$540|
|Subtotal Direct Cost of Sales||$10,125||$16,740||$16,740|