This sample marketing plan was created with Marketing Plan Pro software.
Inspect A-bode is entering its first year of operation and owner Chek Domisile recognizes the imperative nature of a well designed marketing plan that is not just lip service, but actually implemented. The basic market need is for a professional, experienced, home inspection service that provides valuable insight regarding the condition of an existing residential home prior to its sale/purchase.
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Inspect A-bode possesses good information regarding the market and knows a great deal about the common attributes of the most prized customers. This information will be leveraged to better understand who is served, their specific needs, and how Inspect A-bode can best communicate with them. Inspect A-bode recognizes that the collection of information about the market and its customers is an ongoing process that must be continually attended to in order to provide the highest quality level of market analysis.
Inspect A-bode is providing its customers with a professional, complete, inspection service for residential homes. These inspections provide the prospective buyer with ample information to make an educated decision regarding the purchase of the house, its current condition, as well as the cost for needed repairs. Inspect A-bode seeks to fulfill the following benefits that are important to customers.
The market trend for home inspections evidences an industry growth rate that is greater than that seen in similar industries. This can be explained by the fact that home inspections are a relatively new service and a valuable source of information to all involved in a house sale. Over time prior inspections will become a standard requirement when purchasing a home. Trends that have been observed within the industry are:
In 2000, the home inspection market in the U.S. reached $123 million in revenue. The growth rate of the industry is projected to maintain 12% for the next several years. As more and more buyers become accustomed to researching their large purchases first, demand for inspections will be fueled by their need to do due diligence.
The following SWOT analysis captures the key strengths and weaknesses within the company and describes the opportunities and threats facing Inspect A-bode.
There are many different competitors in the home inspection market. At first glance, the service appears to be commodity like. Most people have the same service offering, the same type of inspections, the same price, etc. However, the level of experience and professionalism of the service provider does indeed differentiate the companies.
The buying patterns regarding the home buyers seems to be based on referrals and advertisements. The home buyer will often ask someone in the industry if they can recommend a home inspectoion provider. If they do not know anyone to ask they will typically look in the number of local magazines for homes and find an advertisement in there. Lastly, they would check the Yellow Pages.
The home sellers will either ask their realtor or they will look for some sort of advertisement.
The buying pattern for the realtors is that they typically will know of one or a few inspectors that they send their clients to. Because they are in the industry, networking will take precedence over advertisements.
Inspect A-bode offers residential home inspections for both buyers and sellers. Initially the majority of service calls will likely be referrals from strategic partnerships with realtors. Inspect A-bode's standard inspection includes addressing:
Optional services will include electromagnetic field testing ($45), radon testing ($200), and asbestos testing ($120).
A comprehensive written report (typically around 12 pages) will accompany the service. Inspect A-bode suggests all clients be present during the inspection to increase their comprehension of the written report. The cost of the full service is $200-$400, depending on size of home, layout, and any areas such as a swimming pool requiring special attention.
The following variables are the keys to success for Inspect A-bode:
Inspect A-bode is still in the speculative stages as a service provider. It must take a fiscally conservative approach, recognizing that it takes time to build reputation and goodwill within the community. If this is done effectively, over time, the business will flourish.
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