It is easy for HVAC contractors growing their HVAC business to get stuck in a no man’s land. It is a crossroads you reach when you’re making $600K to $1Million in annual revenue–and forces you to make a decision: continue working on your own or scale your HVAC business by taking on additional personnel and increasing your overhead.
Whether your HVAC business is in no man’s land right now, or a few steps beyond it, we have 5 key strategies that can help you grow it:
1. Know what to expect as you grow your HVAC business out of No Man’s Land
In no man’s land, it is possible you’ve been handling your HVAC business on your own. Or perhaps, you have a few hands to help. But, now that you are ready to grow beyond it, prepare yourself for a revenue dip.
Why? Simple. Hiring a dispatcher, sales representative, and technicians are all investments that cost money. And yet, that is exactly what you need in order to expand your customer base. Not to mention free up your time to put your businessperson hat on and start working on your business strategy.
2. Grow in stages
Rome wasn’t built in a day. The same is true for your HVAC business. A much better approach to growing your business is to do it in stages. Avoid trying to grow too fast and losing your visibility over where your business is headed. Or risk going bankrupt before reaching the next level! It is much more effective to grow your business at a steady pace to reach your goal of hitting the $1.3 to $2.5 million annual revenue range.
3. Find the right platforms to get more time back in your day
Time for HVAC business owners is always in short supply. But the right sales, financing, and field service management platforms can help you streamline your day-to-day workflow, so you can get time back to focus on your HVAC business growth.
4. Get your customers to get the word out
Any savvy salesperson will tell you that your existing customers are marketing gold to grow your business. That’s because you can ask your current customers to:
- Write great testimonials about your HVAC business
- Refer your HVAC business to their friends and family
- Share your HVAC business with their social media networks (think Facebook, Instagram, LinkedIn)
- Get repeat HVAC business through future maintenance and replacement contracts
Consider that at the end of the day connecting with your existing customers is significantly easier than reaching cold prospects. So tap into the power of your network!
5. Hire the right people
You cannot reach the $2.5M to $5M+ revenue range without the right people on your team. Keep in mind that down the road, you won’t be taking calls anymore. Instead, you will be managing your managers. The right service manager, installation manager, and sales manager will help you stay focused on the big-picture items you need to ensure your continued success. Once you get that down, the sky is the limit for reaching your goals!
Reaching the finish line
As we have shared, growing a very successful HVAC business is not a one-person job. You need an awesome team, loyal customers, and the right tools to support you in climbing up that hill.
Two tools that can help you reach your business growth goals are OnCall Air, a sales platform, and Credit for Comfort, our financing platform. With OnCall Air, you and your team can build digital proposals with up to 4 options in less than 5 minutes, while Credit for Comfort lets you offer Prime, 2nd look, and commercial financing plans to all your customers.
Best of all, both tools are integrated, so if you decide to use both, you and your team will be easily able to add financing applications directly onto your proposals and get approval decisions in seconds.
Have questions or comments? Feel free to reach out at ops@creditforcomfort.com
