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Home Inventory Business Idea

If your home is not prepared for a disaster, perhaps you should turn to a home inventory business for help. Better yet, start a home inventory service for yourself, and help others as well.

A home inventory business is like a home inspection business, except instead of examining the structure of a home, you will catalog the customer’s belongings.

Think of this scenario—a wildfire or hurricane is headed toward your town. You’ve got moments to gather your most cherished belongings and escape safely.

Later, as you sift through the wreckage you realize that almost everything you own has been destroyed.

The loss is so big, it may be hard to even fathom. But, in order to replace and rebuild, you have to be able to tell your insurance company exactly what was lost.

What make and model is your television? Where is the documentation that proves the table lamp you had is an antique?

How do you show that the anniversary ring you received has monetary, not just sentimental value? Do you have receipts, warranties, and appraisals at your fingertips? Do you remember how many CDs, DVD’s and pairs of black pants you have?

In that chaotic time after a disaster, think how useful it would be to have a complete catalogue of your belongings.

“Everyone should have an up-to-date home inventory of their personal possessions,” says the Insurance Information Institute (iii.org). “This can help you purchase the correct amount of insurance and will make the claims filing process easier if there is a loss.”

Although individuals can do their own inventory but many don’t because it is time consuming. One Allstate spokesman estimated that his adjusters see one to two inventories per year, compared to hundreds of claims.

So for an entrepreneur, home inventory is one of the best home businesses because it is a new and growing service. In addition to protecting people in case of loss due to weather catastrophes, a home inventory can help in case of loss from theft.

In addition, having an up to date inventory can help individuals assess the amount of insurance they need as well as help with estate planning.

What Do You Need To Start a Home Inventory Business?

You will need a good quality digital camera for still photos and a good quality video recorder so you can record descriptions of belongings along with pictures. You will need a computer with home inventory software to help you categorize the information.

Many of the software programs have a room-to-room guide, so it may be helpful to have a laptop computer that you can bring with you to the client’s home, and enter information directly into the computer.

Getting Your Business Started

Once you have gotten the materials you need and are familiar with the software (start by inventorying your own home—it’s good practice, and it will be useful to you), start offering the service to people you know, i.e. neighbors, co-workers, teachers, et cetera.

Contact your insurance company and ask them to recommend you. Call other insurance companies and estate planners to find out if they can give your name to their clients. Join your local chamber of commerce to draw attention to your business.

With attention to detail and planning, you can create a home inventory business that will succeed, rain or shine.

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