HVAC businesses can sell for as much as $6.2 million. So if you’re looking to start a profitable business, you might want to consider starting an HVAC company.
Starting an HVAC business isn’t easy, though, and there are some pitfalls you need to be aware of.
Keep reading and you’ll learn the do’s and don’ts of starting an HVAC business. When you’re done, you’ll how to start a HVAC business firm of your own.
Spend Some Time Getting the Right Paperwork
If you’re going to be an HVAC technician you need to have certain kinds of paperwork. Otherwise, you won’t be able to lawfully complete the work required of an HVAC business.
Before we go into the kinds of certifications you’ll need, it’s worth noting the requirements vary between regions. You should reach out to the relevant people in your state and ask what kind of paperwork you’ll need.
You’ll typically need some kind of HVAC license.
This is to show you have some experience in dealing with the HVAC industry. The amount of experience required is going to vary depending on the state. Sometimes two years is enough. Sometimes you’ll need around four years of experience.
You may even need to attend some kind of HVAC training school.
This is so that you can learn how HVAC systems work. Going to a school like this can seem a little bit intimidating. But it’s essential if you want the technical knowledge needed so you can work on HVAC systems properly.
You’ll likely need to pay to attend a school that teaches HVAC content. This can be tough if you’re tight on cash. But you should consider the returns you’ll be able to achieve, once you do become a certified HVAC technician and you have your own HVAC business.
Invest in the Correct Insurance
Once you have the correct educational and licensing requirements you then need to focus on getting some insurance. Insurance can be expensive, but it’s going to be essential if you want to avoid any kind of massive financial liability.
There are typically two kinds of insurance you’ll need to invest in. The first is some kind of general liability insurance.
This is to protect you from events that might lead to someone making a claim against you. For instance, some random individual may walk past your work site and experience an injury due to some freak event. This insurance should help protect you in the event something like this happens.
The second kind of insurance you’re going to need is something called workman’s compensation. This is to help protect you, in case something happens to your employees whilst they’re working on one of your projects.
You might not want to invest in this kind of insurance. But you need to be aware that in some states, it’s actually a rule that you do invest in this insurance. Again, you need to verify this with the people in charge.
Buying insurance can be a bit of a minefield.
So make sure you read all the small print before you sign on the dotted line. You need to be sure you know what the insurance is and isn’t going to cover you for. Sometimes there will be clauses that will make it so that you can’t make a claim. Be sure to look out for these clauses.
Get the Proper Equipment
You’re going to need some special tools to help complete your work as an HVAC business. You’ll also need a vehicle to help you transport your tools to the location in which you’re working.
If you’re going to buy a vehicle, consider purchasing one that is second hand. This’ll help keep your costs low. If you’re not sure what kind of vehicle you should spend money on, ask some other people that also work in the HVAC industry. They’ll be able to provide some good recommendations.
In relation to the tools, you might want to take a look at leasing them.
There are many companies that offer a system wherein they’ll let you lease the tools for a small monthly cost. This can provide you with access to vital tools, without forcing you to spend a lot of money. If you can’t find a store local to you that offers this service, consider checking what’s on offer online.
Marketing Your Services
You then need to consider how you’re going to market your services. There are a lot of options here.
One of the best things you can do is set up a ‘Google My Business’ profile. This’ll ensure you can be more easily found online. If you need help doing this, there are plenty of YouTube videos that’ll provide some direction.
You might also want to think about investing in some PPC ads. One example of this is Google AdWords. If you’re going to use Google AdWords, be sure to start off small. This’ll ensure you don’t waste a lot of money, by bidding on the wrong kinds of search terms.
You may even want to invest in some kind of print advertising to help promote your brand. If you offer specialist services, such as air duct cleaning, think about the kinds of content your ideal customer would read. Then think about creating an ad specifically for this form of content.
Or, you could question the kinds of websites your target market would visit. You could then place some banner ads on these websites.
Do You Know How to Start an HVAC Business?
The HVAC industry can be incredibly profitable and it’s because of this that you might want to consider starting an HVAC business.
In this post, we’ve explored some of the things you should consider, if you’re going to start such a business. You need to review what qualifications and certifications you’ll need. You should also think about how you’re going to source your equipment.
Just because you know how to start an HVAC business, doesn’t mean you’ll be successful. You need to learn how to market your services too. Things will be tough, to begin with, as there’s a lot of competition. Yet if you stick with the process, you’ll eventually find a way to steal market share from competing businesses.
Need some local SEO help? Check out this post for some tips.