The Cost of Running an HVAC Business

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How to start an HVAC Business

Starting an HVAC business in 2022 can be very profitable. Before you start, it’s good to know some of the basics such as how to start marketing yourself, how much cash you’ll need upfront, and how to keep growing. 

Let’s start with the basics and make a plan for success. 

Starting a business plan

Using a business plan can move you in the right direction toward launching a profitable business. When you understand from the beginning what insurance you’ll need to get started, how to use marketing to help you grow, and what software to grow your business with, you’ll set yourself up for success.

Using quality products

At first, it may sound cost effective to cut corners with your business, but you’ll find that using “cheaper” methods will cost you in the long run. 

Customers notice when a product is quality, and by spending a bit more money upfront, you’ll be ensuring equipment doesn’t break down or need additional repairs. For instance, installing a brand new air conditioner means your unit will use 30%-50% less energy than an older unit. This is why it’s important to vocalize the importance of replacing older units vs. performing repair after repair.

When it comes to improving customer loyalty, the LTV (lifetime value) of a customer is higher if you use quality products and provide five star service. In 2021, the cost of heating rose 30%, which means customers are looking to find long-term solutions to their basic HVAC needs.

It’s up to you as a business owner to provide the quality service they’re looking for.

Finances needed for the job

Before starting your hvac business, you should know what upfront costs will be. That’s why it’s important to have software that works for you and a system to automate tasks to make things easier.

For example, you’ll want to look at business insurance requirements for your state to make sure you’re properly insured. 

Make sure you consider costs like auto insurance for your company vehicle and legal insurance for things like repairs. 

HVAC as a seasonal business

When the slow season approaches, as an HVAC owner, the main thing on your mind might be how to keep your business running during those slower months. During fall and spring, many HVAC owners are left wondering how they can keep business coming in.

Here are some things you can do.

Ongoing maintenance

Unfortunately, a lot of HVAC calls come from emergency situations. This can mean that your customers only call you for a job when it’s an emergency, which means less long-term work.

By upselling services that offer preventative maintenance for your customers, you’re continuing to fill orders during slower months and also building a long-term relationship with your customers.

That way, you’ll provide value for them and increase the change they’ll give you word of mouth referrals. 

Market yourself

There’s an old saying that people don’t know what they don’t know. If you focus on marketing during the slower months, you’ll increase the chance of getting work in the busier season, and ongoing. 

You can perform preventative tasks such as monitoring HVAC units and letting your customers know when it’s time to replace.

Take use of services such as automated marketing that drive referrals and repeat business.

Record keeping

Keep track of services you’ve provided customers in the past and let them know when it’s time to upgrade or replace equipment. At the time of service, offer system upgrades to be performed during the slow season. This will generate steady income for your business.

Offer home performance services for preventative maintenance and keep records of all completed tasks and repairs. 

Grow your HVAC business today

If you’re looking for practical ways to grow your HVAC business today, you’ve come to the right place. Get started with tools like customer management, automated marketing, and payments. Get everything you need to run your successful HVAC business.

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