In 2018, the number of heating and air conditioning contractors grew by as much as 3.1 percent, reaching a whopping $94 billion in just a few years. And that’s in the United States alone.
The average HVAC business has an annual income that ranges from $35,000 to $75,000. The good news? Given that you play your cards right, there is a huge possibility you can earn more.
However, starting an HVAC business from scratch would entail more than just knowing the difference between commercial AC repair and residential AC repair. Run a thriving HVAC business from scratch by keeping the following basics in mind:
No HVAC business will succeed without a solid business plan. In your business plan, you will define your business structure, local competition, marketing plan, target market, and revenue projections, among others.
Just how important is your business plan? It can do more than keep you on track. Your business plan can also make it very easy for you to secure financial help from banks or other investors.
Starting an HVAC business can cost a significant amount of money, and failing to account for all the possible expenses is one of the biggest mistakes you can commit. If you keep equipment costs low, startup costs can range from $2,000 to $10,000.
However, if you purchase everything you need for the business upfront, the cost can easily hit the $100,000 range. Some of the things you need to invest in can include:
- Liability insurance
- Workers compensation insurance
- HVAC tools for air conditioning work
- Vehicle signage
- A vehicle that can carry all your equipment and tools
- Tools you will need for the business (i.e., electrical testers, tape measures, battery-powered drills, etc.)
To build trust, you need to ensure you come across as professional as possible. This is especially true for those who are still starting out. Consider investing in a website that has all the information about your company and business.
You can also set up a business email with your URL. Setting up a voicemail is also recommended so you won’t miss any of the calls from customers. Make sure you also add prominent signage to your company vehicle and require your staff to wear a shirt with your company name and logo when at work.
If you want to establish your reputation, generate more leads, and get ahead of the pack, you need to find ways to attract more customers. Fortunately, there is no shortage of ways to achieve said objectives. For starters:
As soon as your website is up and running, make sure you claim your Google My Business listing. Claiming your Google My Business listing can increase your chance of showing up in the local searches.
Creating a Facebook Business page is also a good idea. On your page, you can share projects you are working on, tips for heating and cooling, and general information on the benefits of keeping a well-maintained heating and cooling system.
The importance of customer service cannot be overstated. In line with this, make it a priority to provide the best possible service at all times. If you give your customers a compelling experience, they would be more than happy to spread the word about your business.
Starting an HVAC business can be exciting. However, it can also be daunting. Fortunately, as long as you prepare accordingly, running an HVAC business from scratch should come easy.
About the author: Sara Olsen is the Content Marketing Manager of Emergency Air, Arizona’s premier HVAC repair and service company with NATE-certified technicians and the best HVAC service in the quickest time. When not writing articles, she makes the most of her time with her family and gives back to the community.