Doing market research for friend. Wondering about doing digital inventory of tools. provide 2 cds. 1 for personal records, other for insurance co. What kind of demand, and how to price it…..would not want to be so high that out of the market, but wouldnt want to give it away.
Would any of you be interested in having someone do this for you?
Thanks.
Replies
How many times have I set out to do what you propose for my own arsenal. I've got bits and pcs, but never unloaded the van and ID'd the entire list. You might find it a useful service, pricing? If you got them to have all the tools on display, 75 bucks? If you inventory with ser. no., you'll be there a couple hours, an hour at the computer and mailing............? What kind of charge were you considering?
Remodeling Contractor just outside the Glass City.
Quittin' Time
There are companies that do exactly what you're talking about for homeowners insurance. They document everything you own- clothing, jewelry, furniture, electronics, vehicles- everything. Generally you get a CD of the digital pics, and a computerized list of the items with serial numbers, ID's, etc where applicable. Fees for the service generally run around $250-$300 for a "standard" size house, so I'd think a tool inventory would be substantially less, unless it was one huge collection.
The biggest thing is developing trust. Most people are leary of having a stranger going through their valuables, and knowing exactly what they have and where it's stored. Look into getting an "honesty bond"- at least that's what they were called when I lived in Las Vegas. It'll help establish some trust/credibility.
Good Luck,
Bob
Was that you I just saw in Tools of the Trade?
I'd be very interested if the price was reasonable- maybe $150-200.
You should think about doing regular updates, too. Maybe once a year?
I know I buy tools every year.
I saw it in Tools. The writer went out of business.....wood that is. Phone disconnected.
I think it's very good idea but it depends a good deal on where you are located. Are the majority of contractors in your area on "the up and up" with licenses and insurance policies and such or do you live in an area where fly-by-nighters do the majority of the work. For obvious reasons, it's probably only the true pro's that would consider your services. Even if the majority of contractors in your area are legit, you should still look into whether or not there are enough of them to sustain your business.
FWIW, I did just what you're talking about this past spring. I bought a trailer and realized that between the service body on the truck and toting the trailer around daily, I'd be basically dragging about 16 grand worth of tools down the street every morning. Was a bit of an eye opener. One slow day, early spring, I grabbed a notebook and my digital camera and took pictures of every dang tool I own along with a shot of the serial number. I then recorded the serial number, make, and model number of each tool. I lumped alot of hand tools together like misc screw drivers etc. I then went on Amazon.com and other sites to added the replacement cost of each tool to the list.
After I totaled it all up and picked my jaw up off the floor I adjusted my insurance policy accordingly. After a zinger of a summer, I should really update that list again.
Good luck in your venture.