With the right skill set and a bit of elbow grease, starting a Heating, Ventilation, and Air Conditioning, or HVAC, business in 2022 can be incredibly lucrative. In fact, an industry research firm projects the HVAC market’s compound annual growth will grow by six percent in the next seven years.[1] Another national projection estimates demand for HVAC services will increase by 12.6 percent by 2028.[2]
Why is demand for HVAC services so high? Most homeowners may be able to handle simple repair tasks. Yet, as a licensed contractor, you are able to offer your customers a much wider range of needed services. To better your chance of success, we’ve provided all the tried-and-true tips you need to know before starting an HVAC business in 2022.
In this guide, we lay out the ten steps you should follow in starting your own HVAC business:
- Define Your Goals and Set Expectations
- Perform Market Research
- Choose Your Business Structure
- Plan Your Budget
- Write a Business Plan for Your HVAC Company
- Register Your Business and Obtain a License
- Open a Business Account and Credit Card
- Hire Your Team
- Get HVAC Business Software Solutions
- Market Your HVAC Business
By the end of this article, you’ll have gained a comprehensive overview of how to follow your passion and set up your new HVAC business for success.
What to Know Before Starting an HVAC Business
Whether you’re an HVAC technician aiming to pave your own way or an entrepreneur hoping to capitalize on a growing market, it’s important to know a few things about the industry before you start.
In the U.S., data shows the HVAC industry creates about $96 billion in revenue annually and employs over 50,000 workers.[3] Unfortunately, this means that the market is competitive, and compared to other businesses, new HVAC businesses can have high failure rates. But the good news is industry growth has been steady and projected demand for HVAC services is on the rise. As a result, now could be a great time to launch your HVAC business and reap the rewards of your hard work and dedication.
Step 1: Define Your Goals and Set Expectations
Before taking a big step like starting your own company, it’s worth taking time to reflect on your reasons for doing so and the expectations you have for your HVAC business. Let’s walk through some questions you should answer early on into starting your own HVAC business.
Why are you starting an HVAC company?
Ask yourself what your motivations are behind starting an HVAC business and keep asking “why?” until you’ve thought through every reason driving you. Depending on your style, you may want to jot your answer down, keep it in a note on your phone, or talk it through with someone you trust.
Are you looking for financial independence and flexibility in setting your own hours? Do you want to start a family business that can be passed down over the years? Think about what parts of owning this HVAC business spark your passion, as well as what the downsides might be. You should then be able to proceed with the next questions with a clear sense of what drives you. And if you don’t feel highly motivated, you can recognize this early on and think if another option might be right for you.
What services will you specialize in?
Next, consider what HVAC services you will offer. Within the world of HVAC, what services do you see your business specializing in? Are you more drawn to air duct cleaning, water heater installation, maintenance, or something else? What experience have you had with HVAC services?
As you’re brainstorming, you can begin to think about what your competitors offer, what’s in demand in your local market, and if you have an aptitude for a certain kind of HVAC work. For example, if you have any credentials or background in the field, you may be able to take on more difficult jobs and charge more for them. Or you can go for a more generalized services approach. The choice is yours!
Average HVAC business owner salary
The average salary of an HVAC business owner varies based on many factors: geographic location, business size, and years of experience. Typically, owners can earn from five percent of a business’s revenue to 50 percent of net profits. Experts say that it’s wise to aim for at least 10 to 15 percent in take-home pay.
In contrast, HVAC contractors can earn anywhere from $67,573 to $209,355 according to compensation data.[4] To get another estimate of what you might expect to make, you can research the average small HVAC business owner’s salary in your specific area.
HVAC business requirements: What do you need to start?
In this section, we’ll cover everything you need to cross off your checklist before launching your HVAC business.
Equipment
With the right equipment, you can deliver quality and efficiency to your clients. When buying equipment, it’s important to buy the highest-quality equipment you can afford ensuring it lasts long, saving you maintenance costs. On that note, some tools on the market today can increase productivity while reducing the physical burden on your employees. For example, you may want to invest in a big-ticket item like a mobile crane to make it easier to move heavy AC units at a client’s property.
Whatever equipment you choose, decide with an eye toward maximizing your bottom line.
Experience
In starting your HVAC business, it will be helpful to rely on the experience you have in the industry or in starting a business. You should also lean on the experience of those around you as well. Don’t be afraid to tap into the expertise of a fellow entrepreneur in your network, like a colleague or a mentor.
What licenses are needed to start an HVAC business?
Every jurisdiction has different license requirements for starting an HVAC business. You can research the requirements you must follow by getting in touch with your local regulatory office. Here are some resources that can help.
HVAC-related information:
General business-related information:
Other certifications and education
Success in the HVAC business requires many different skill sets, such as plumbing, metalwork, welding, carpentry, electrical work, and more. You do not need a bachelor’s degree to work in HVAC, but if you’d like to improve your skills, you can attend programs and earn certifications.[5]
Various kinds of HVAC certifications include:
- Universal EPA Certificate
- EPA Certifications: Type I, II, and III
- For servicing small appliances, high-pressure systems, and low-pressure systems, respectively
- North American Technician Excellence (NATE):
- Air Conditioning (AC)
- Air Distribution (AD)
- Gas Heating (GH)
- Oil Heating (OL)
- Heat Pumps (Air-to-Air) (HP)
- Hydronics Gas (HG)
- Hydronics Oil (HO)
- Light Commercial Refrigeration (LC)
- Commercial Refrigeration (RC)
- Senior Level HVAC Efficiency Analyst
Step 2: Perform Market Research
To understand your future consumers, you need to understand the market. This means researching your competitors, customers, and the niche your HVAC business can occupy to maximize your chances of people seeking out your services above others. If you have the resources, consider putting together a survey to gather the most accurate data on consumer needs. No matter how you approach your market research, plan to invest a decent amount of time in this step. Strong market research is key to your HVAC business thriving in the market.
Below examines the two main questions you want to answer as you define the parameters of your HVAC business.[6]
Define your niche and services
It’s important to formalize the services you brainstormed in step one. After you know exactly which services you want to offer in your HVAC business, you can define the niche it will fill. You can begin by researching your future competitors. Begin by searching online or calling around to gather data on competing HVAC businesses’ pricing and services.[7]
How many HVAC businesses serve your area? How many services do they offer? Is there any disconnect between what’s currently offered and what consumers need in their homes or offices? If so, you should certainly consider incorporating those specific needs into your services in order to occupy a corner of the market that offers something unique and checks the boxes of what your customers are seeking.
As a future HVAC business owner, there are many different services you can offer. For example, you may want to include the following services in your HVAC business:
- Heating and cooling system installation
- Heating and cooling system maintenance
- Duct sealing
- Plumbing
- Insulation
- Indoor air quality evaluation
- System performance reviews
In addition to these services, you may even want to sell heating and air conditioning systems to customers.
Define your target customers
With a clearer idea of what your HVAC business can offer customers, you can next define who those customers are. Begin by picturing your target customer. What are their HVAC needs? Are you planning to service industrial offices or homes or apartments?
Using data from the U.S. Census Bureau, research into the demographics in your area can go a long way. For example, if you learn that industrial HVAC needs are in high demand in the next year due to construction, you may want to target these customers accordingly. Or perhaps your customers in your target demographic have been trending toward using HVAC systems that rely on renewable energy sources.
All this information is crucial to know as you envision your target customer profile: who they are and what they look for in the market.
Step 3: Choose Your Business Structure
As your HVAC business takes shape, you’ll next need to decide what business structure you’ll choose. Each of the three main options available to an HVAC business has benefits, so you’ll need to decide which aligns best with your needs.
Limited Liability Company (LLC)
Chosen by many small businesses, a limited liability company, or LLC, can be a strong choice for your HVAC business. Since it’s registered formally with the government, an LLC combines the benefits of a simple business structure with the liability protections of a corporation.
With an LLC, you file a tax return as the owner and pay taxes on your business at the rate of your normal personal income. Since your business is under the name of an LLC, however, you don’t have to worry about mixing your personal assets with business risks, like lawsuits or bankruptcy.
Partnership
Are you going into business with one or more partners? Then a partnership structure may be right for you. Under a partnership structure, you have two options from which to choose: a limited liability partnership (LLP) or a limited partnership (LP).
- Limited liability partnership – With an LLP, every partner has the same limited liability in the business. Consequently, each partner is isolated from the actions of the other partner(s) so they won’t be held liable.
- Limited partnership – Under an LP, partners have different levels of liability. One general partner holds unlimited liability, while the other partner(s) have limited liability. Thus, the general partner makes decisions around daily company operations, while the other partner(s) have limited control. Sometimes these limited partners act as “silent partners,” limiting their involvement to an investor role.
Sole Proprietorship
Lastly, a sole proprietorship is the simplest and least costly of the options. In a sole proprietorship, your business is owned by one person fully responsible for it. These responsibilities include all aspects of management, like taxes, debts, and liabilities. With this simplicity comes some risk, as with any business.
Unlike the other two types, in a sole proprietorship, there’s no legal separation between your personal assets and your business financials. As a result, you, as the owner, are personally liable for your business, including any debts.
With this in mind, a sole proprietorship can be a great option if you don’t expect a high level of risk with your business. You can also choose to set up a sole proprietorship as your first step in launching a business and switch to another structure later. Starting small and scaling up in the future is a good way to test the waters.
Step 4: Plan Your Budget
Next, it’s time to plan your HVAC business’s budget. Budgeting is a key part of any successful financial management process. By designing a budget that takes into account all the expenses that may come up, you ensure you won’t be faced with surprise expenses that could sink your HVAC business. You can also ensure you’ll be ready to hit the ground running with all your assets coordinated and ready to go on day one.
To help you with your budget, here are some factors to consider in terms of initial expenses, revenue, overhead, and more.
Grants for small businesses
To start an HVAC business, you need enough funds to cover your expenses until your business is profitable. As the saying goes, “It takes money to make money.” Thankfully, there are resources out there to help small businesses get off the ground.
Grants or loans for small businesses can supplement your start-up funds. The main difference between the two is that loans need to be repaid while grants do not. Naturally, grants are competitive. They are offered by state, local, and federal governments as well as private organizations. Additionally, there are a few other kinds of business grants available, such as:
- Specialty business grants
- Research business grants
- Corporate business grants
- Small business relief grants
Loans
You may want to seek out loans from the bank to begin your HVAC business. To do so, consider your needs and your ideal loan terms. Depending on your situation, you may even seek out a loan from a friend or loved one.
Specifically, you could consider a heating and cooling business loan from National Funding. Another option is one of the many kinds of grants and loans guaranteed by the Small Business Administration. You may use these loans for buying equipment, refinancing debt, buying out partners, and more.
HVAC business start up costs to consider
After establishing where you’ll get the funds to start your HVAC business, you need to consider all the start-up costs. Here are a few for you to consider in your business plan:
1. Business insurance
To protect your HVAC business, you need to invest in the appropriate insurance coverage.[8] This can include general liability insurance, worker’s compensation insurance, and property insurance. With insurance comes costs related to insurance premiums. Plan for these costs on a monthly and yearly basis.
2. Incorporation and licensure fees
To formally register your HVAC business with your state, you’ll need to pay a few incorporation and licensure fees. State requirements vary, so make sure you budget enough funds to secure all the needed HVAC licensure, permits, and certificates.[9] Additionally, if you plan to launch an HVAC franchise, you will need to pay a one-time franchise fee, as well as a portion of the annual revenue to a franchisor.
3. Equipment, tools, and service vehicle costs
Equipment is key to an HVAC business, so it’s important to budget for all you’ll need. This includes the cost of equipment, tools, and service vehicles, as well as maintenance costs. HVAC equipment can include any of the following:
- Furnaces
- Air conditioners
- Thermostats
- Heat pumps
- Ventilation lines
- Filters
- Trucks
- Vans
- Fuel
- Safety equipment
- Personal protective equipment (PPE)
4. Uniforms
Another cost you’ll want to include in your budget is quality HVAC uniforms. Protective apparel keeps your employees safe from the hazards of the job. You can consider uniform options that are flame retardant, branded with your business logo, high visibility, or designed to keep cool. In addition to a jumpsuit, you should consider buying hard hats, earplugs, safety glasses, masks, and work gloves.
5. Other costs
Managing an HVAC business also requires its own equipment and costs. To manage your operations efficiently, you may want to invest in computer equipment, accounting software, customer relationship management software, data storage, and mobile devices for field technicians. Other costs can include the cost of leasing or owning office space.
Average overhead for an HVAC company
Overhead is one of three categories of costs to your HVAC business in addition to labor and materials costs. It represents the total cost of what you need to manage your business, from office space to uniforms to insurance. The amount in overhead costs can vary greatly across HVAC businesses, but you can expect five figures to stack up faster than you think.
Overall, in your budget, keep in mind the exact numbers of your overhead costs, as you’ll need to charge your customers more than that to make a profit.
Budget your money
Budgeting your money means taking into account how all funds flow into and out of your HVAC business. In your financial planning process, you can use tools like a profit and loss analysis or break-even analysis. Together, these analyses can help you manage your HVAC business to financial success. The market today offers sophisticated solutions to conduct these analyses, as a pen and paper or even a spreadsheet might limit you too much.
With all costs, it’s important to track which are start-up costs, fixed costs, and recurring costs. Your expenses will also shift depending on the season. For instance, in peak season, you may need to add to your fleet of vehicles, while you need to smooth out your revenue to sustain yourself during the slower months. It’s recommended to aim to at least break even during slow months, according to HVAC expert Mike Moore in Contracting Business magazine.[10]
Budget your time
As an HVAC business owner, your time is valuable and must be factored into your budget. You need to estimate your time spent planning, researching the market, organizing your finances, buying equipment, launching your website, and more. Each hour spent developing your HVAC business is part of your costs.
Taxes and other expenses
You also need to account for the taxes you must pay to run your businesses, as well as license renewals and any other expenses. The last thing you want is to be surprised by any major expenses during tax season.
Equipment and vehicle insurance
Let’s explore the details of two kinds of insurance you need to buy for your HVAC business: equipment and vehicle insurance. Equipment breakdown insurance covers you when your equipment degrades over time.[11] With this coverage, your insurance may pay a replacement or repair of your HVAC equipment. For whatever kinds of vehicles you use, you’ll also want to get auto insurance in case of an accident.
Step 5: Write a Business Plan for Your HVAC Company
Starting an HVAC business comes with the risk of failure, like anything else, but a smart business plan can help you offset those risks. Think of your plan as your roadmap of how to manage your business over time. You want a realistic plan taking into account your vision for your HVAC business and how you plan to achieve your goals.
In other words, your business plan doesn’t need to be overly complicated. In fact, there are many resources out there that can help you devise a plan. For example, you can rely on existing business plan templates that have already done the legwork of organizing what you need into a document.
Elements of a business plan
While you can add or subtract sections depending on your needs, here are the basic elements in a business plan:
- Executive summary: An overview of your business in two pages or less.
- Company description: A description of your mission, target market, what makes you unique, and how you measure success.
- Market analysis: A summary of your research on market trends and competitors.
- Organization and management: A breakdown of your company’s legal structure and organizational chart.
- Service or product line: A description of what you sell and how it serves your customers.
- Marketing and sales: A section outlining your marketing strategy and sales process, which you’ll adjust over time.
- Funding request: If applicable, you should include a section on the funds you’re requesting and how you’ll spend them.
- Financial projection: This section includes your five-year financial forecast, based on past (or projected) statements, budgets, and balance sheets.
- Appendix: Any supporting documents like resumes, contracts, patents, or credit histories will go here.
All in all, it’s worth spending time to develop a strong plan for many reasons. First, you can only benefit by formalizing a plan accounting for various circumstances. Aside from this obvious benefit, your plan can also help you when applying for funding or pitching to investors.
Understanding the HVAC business model
With an HVAC business, your business model typically means charging your customers for a flat-rate service. As a result, you can plan for how much profit you make per service call by analyzing your costs and revenues. You can set your pricing based on what you need to make a profit under your business model.
When to review your business plan
Regardless of what goes into it, expect to revisit your HVAC business plan. At a minimum, aim for updating this document at least once a year. Some experts say you should keep it in the back of your mind at all times.
Why is reviewing your plan so important? Your plan reflects how your business will respond to changing conditions and what you learn over the course of your operations. In fact, the National Federation of Independent Business recommends updating your business plan any time one of the following events occur[12]:
- Change in your product or service line
- A missed goal
- Financial decline
- Change in location
- Rapid growth
- A decision to seek financing
- Change in partners or owners
- An advantage gain by a competitor
In your review process, look at your goals compared to your performance. Note any unforeseen circumstances that affected your business. Reflect on how you’ll adjust going forward. Review your records to conduct a financial analysis based on your sales patterns and marketing strategy. Accordingly, set new goals and prepare your new financial outlook based on this data.
Pricing: how much will you charge?
Setting competitive, profit-driven rates is crucial to a successful HVAC business. But just how do you strike the right balance and set those rates? It requires a fair amount of research. After calculating your costs (including all fees, such as taxes) and doing market research, estimate how much you’ll need to charge per job to break even. Then, calculate your markup and profit margins. Let’s look into this in more detail next.
Calculate HVAC business profit margins
In order to make a profit, you need to earn more in revenue than it costs to run your business. The amount you charge in addition to your costs is called your markup. Your ultimate price will be settled based on your desired markup and the demand of the market.
Another pricing consideration is offering discounts or bulk rates. This can be a smart way to boost your profit and secure loyal customers. Just make sure you don’t discount too much.
How to name your HVAC business
You have one more crucial step to take before you can officially register your business: deciding what to call your brand-new HVAC business. Spend some time sifting through ideas until you find one that seems right. Like every other aspect of building your business, naming it is an important decision.
Things to consider when choosing a business name
To help you settle on a winning name, below are three considerations to make when it comes to naming your HVAC business. Selecting a name that satisfies all three guidelines is a recipe for success.
Choose a business name that clearly communicates what your business does.
You want a name that your customers won’t misinterpret, first and foremost. Bonus points if it’s catchy. For example, with a name like Hamza’s HVAC Services, customers will know exactly what to expect from your business. As an added benefit, with a simple name that has “HVAC” or “HVAC services” in the title, you can draw customers to your website who are searching for these terms online. If your business is more specialized, tailor your name accordingly. For instance, if you only plan to offer cooling services, you can reflect this in your name with the words “AC,” “cooling,” etc.
Pick a name that appeals to your target customer.
A name that has a joke in it may be appropriate for some audiences, but not all. Similarly, if you include a location in your name, make sure it matches your HVAC business’s jurisdiction. You also generally want a name that’s easy to remember and not too wordy.
Choose a name that’s not already taken by another business.
You don’t want your customers to confuse you with another “Rodrigo’s HVAC Services,” so first check out if your name is taken in the area. Then, look up your business name online to see if you can secure a matching website domain. If it’s not immediately available, don’t go back to the drawing board just yet. You can choose a .net or other URL. Alternatively, you could tweak the domain to include your city’s name.
Lastly, if your name meets the first two criteria, check with your state’s official record to see if it’s available.
Step 6: Register Your Business and Obtain a License
After selecting the right name for your new business, it’s time to make it official and get your paperwork in order. You can register your business with your state and local government. Since each state has a different process, research what to do in your state on your Secretary of State’s website.
Then, you need to get the licenses you need to begin legal operations. Refer to the list of licenses above, as well as all your federal, state, and local requirements.
Register for taxes
The last step to registering your business as a legal entity is registering for taxes with the government. To do so, you can complete an online EIN application to receive your employer identification number for your business. Often, this is the only step you’ll need to take, though you might consider registering with federal or state agencies. The benefits of these additional registrations are trademark protection, tax-exempt status, and more.
Step 7: Open a Business Account and Credit Card
To set up your HVAC business finances, it’s a good idea to open a business bank account and business credit card. This is true whether you’re operating as a sole proprietor or an LLC. A business account can help you separate your personal funds from your business funds, which simplifies your bookkeeping and tax filing.
The first step in setting up a business bank account is determining how you want to handle your banking: online or in-person. If you expect that your customers will be paying in mostly cash, a brick-and-mortar bank might be ideal. On the other hand, online banking offers benefits like convenience, low fees, and minimal paperwork. Among banks, you can choose to support a local bank or opt for the convenience of a large bank.
Next, select a business credit card to further separate your expenses. Additionally, a business card can come with perks like a higher card limit, cashback, and rewards points.
Step 8: Hire Your Team
Hiring a strong team is the next step in setting up your HVAC business for success. When it comes to hiring, you have a few choices. For example, you can even outsource your hiring needs to a different company. And depending on your business model, you may want to just keep your HVAC business to a one-person show in the first year. However, if you do decide to hire staff, below are the options you have available to you.
Hiring employees vs. independent contractors
As an HVAC business owner, the market gives you options in what kind of workers you want to hire. Two categories of workers are employees and independent contractors. When hiring employees, you will pay a regular wage and dictate their schedule. In contrast, an independent contractor works their own schedule, and you pay them by the project or services rendered.
How do these differences affect your business operations? Although they may do the same work, employees and independent contractors are legally different. Thus, each comes with its own tax-filing implications. For example, you need a W-9 form for an independent contractor, but a W-4 form for an employee. The different categories also affect how you cut paychecks. With an employee, you withhold taxes from their paycheck, while an independent contractor pays their own taxes. Lastly, employees are also given legal protections and benefits that non-employees are not.
Subcontractors
Lastly, there are subcontractors, which are a kind of contractor that performs part of the work of another contractor.
With any kind of workforce, it’s a good practice to pay them as well as you can. Competitive wages and benefits keep your workers happy and increase your retention rates. As a result, you can reduce the costs of hiring and training new staff. Furthermore, make sure that you buy worker’s compensation insurance to protect your business in the case of an employee injury.[13]
Step 9: Get HVAC Business Software Solutions
In today’s day and age, a successful business is a tech-savvy one. Research shows that modernizing your business using technology or software solutions can improve the quality and efficiency of your operations. For example, consider choosing a software provider that manages your inventory, payroll, accounting, and customer relationships. Or you may select an integrated solution that offers other capabilities that meet your needs.
To streamline your payment acceptance process, you can follow many profitable business owners in setting up mobile payments. Mobile point-of-sale systems, or payments processed through a smartphone or tablet, allow you to accept payments anywhere, anytime. You can choose a mobile service provider that also offers you the ability to track payments, send electronic invoices, and set up recurring billing for your customers with ease.
Utilize field service management software for easy invoicing
Another tip for simplifying your invoicing is to make use of field service management software. What can this software do for you? Field service management software can automate aspects of your work operations and invoice processing. In doing so, field service management software can lighten your load as an HVAC business owner. As a result, you can free up time from your busy schedule to devote to other parts of running your business.
Step 10: Market Your HVAC Business
At this stage, you’ve worked hard designing a business to provide your customers with the best HVAC services on the market. Now, it’s time to get the word out about your business.
Simply put, if prospective customers don’t know about your HVAC business, they can’t reach you and help you grow. Thus, it’s important to devote time to creating a marketing plan that works for you and your customers. You can design your marketing plan using a combination of tools, using your business’s online presence, physical advertising, and word-of-mouth advertising within your community.
Website
In 2022, setting up a website is a must. An online presences make it easier for modern-day customers to reach you. On your website, you’ll want to feature your business name, services, pricing, and how to contact you. You have plenty of options in terms of doing it yourself or hiring someone to set up your site.
Social media
Since social media reaches millions of people each day, you can’t ignore the marketing benefits it can offer. As part of your marketing strategy, research how you can use social media ads, pages, and events to bring in new customers. Setting up even a minor professional presence on the most popular platforms used by your customers is worth the effort.
Physical advertising
In addition to online advertising, don’t forget to make use of classic, physical advertising. It can help build brand recognition across your market at an inexpensive cost and reach specific demographics. For example, a newspaper ad could pay off in no time depending on your desired audience. Two of the most common kinds of effective physical advertising include flyers and business cards.
Flyers
Physical flyers are one way to spread the word about your business. You can post them on community bulletin boards, utility poles, and willing businesses.
To maximize the effectiveness of your flyer, you can include a QR code. With a QR code, prospective customers can scan your flyer with their phones and arrive instantly at your website.
Business cards
Good old-fashioned business cards are a smart option for any entrepreneur. By handing out your business cards, you can network and give people the best ways to get in touch with you.
Customer referrals
Referrals can be one of the most effective ways to build your HVAC business. Another person’s recommendation carries weight, and often good customers know other good customers. While it is slower than other methods, word-of-mouth marketing pays off in the long run.
To increase the chances of your HVAC business growing, simply ask satisfied customers to recommend your business to their networks. Improve your online presence by sending customers a link to your business’s Yelp after a successful job. And you can encourage your customers to refer friends to you by offering a discount whenever they bring in a new customer for you.
Press releases
Issuing a press release with key announcements can be a smart marketing strategy to increase the amount of attention generated. Basically, a press release is a newsworthy bulletin that shares news you’re trying to promote. The goal is that journalists write a story about your latest update and include the press release information in their publication.
Personal connections and networking
Leveraging your network is an important part of being a business owner.[14] Don’t be afraid to rely on the help of others. And do let people in your community know what’s coming next in the world of your business.
In general, people love to support a small business owner, especially one in their circles. With successful networking efforts, it’s a win-win situation when people help each other succeed. For example, you can set up referral partnerships with other trades, like electricians, house cleaners, landscapers, or painters. And by building off of your personal connections, you can create a strong client base that can give you positive testimonials. Networking can be a beneficial, two-way street by which you can help yourself and others in your community.
How to Grow Your HVAC Business and Make Millions
With strong marketing and successful planning, you can set up your HVAC business to thrive. The most successful HVAC business owners develop their business proactively, even during slow months. For example, you can seek creative opportunities to market with a giveaway or trade show.
Similarly, it’s important to stay in the know about the industry to keep your HVAC business one step ahead of influential trends and technological advancements. For example, in 2022, it’s worth looking out for how the industry responds to the growing popularity of geothermal solutions, 3D printed air conditioners, smart wifi-connected devices, and more.
All these tips, plus the experience you bring, will add up to long-term success for your budding HVAC business.
Starting an HVAC Business: Final Thoughts
Starting a successful HVAC business can be intimidating, which is why we hope this guide has been helpful in outlining the ten steps to turn your dream into a reality. In no time, you’ll be accepting mobile payments from clients completely satisfied with your HVAC work.
Just by researching the steps to success, you can pat yourself on the back for already setting your HVAC business off on the right foot. Consequently, even when challenges arise, your effort will pay off in rewards in the long run—from the millions you might make to the many happy customers you’ll serve.
Sources:
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- Projections Central. “Long-Term Occupational Projections (2018-2028)“. Accessed January 27, 2022.
- IBIS World. “Heating & Air-Conditioning Contractors Industry in the US – Market Research Report“. Accessed January 27, 2022.
- Salary.com. “HVAC Contractor Salary in the United States“. Accessed January 27, 2022.
- North American Technician Excellence. “North American Technician Excellence“. Accessed January 27, 2022.
- Netscribes. “6 essential parameters of performing a company analysis“. Accessed January 27, 2022.
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