5 Tips to Start Your HVAC Business
Thinking of starting an HVAC business in your locality? This sector is growing by leaps and bounds every year, and you would make handsome profits from it once your business grows a little. Here's what you need to do:
1. Set up a business plan
Setting up a business plan doesn't just mean you confirm that you will do a business of HVAC installations and repairs. It includes elaborate preparation that includes defining your marketing plan, financial obligations, business structure, revenue projects, target market, and local competition. These pieces of information keep you on the right track so that it becomes easier to secure your startup funds by explaining your plan to investors and banks.
2. Determine startup costs
This isn't like starting a t-shirt or online flower selling business that would require a low startup cost. You can expect the startup cost to be on the higher side, somewhere between $2,000 and $10,000, depending on how big you want your business to be. Of course, this amount includes working with low-cost tools and buying a used vehicle. If you're going to buy everything brand-new, you may look at spending $100,000. Here's a checklist of the things you'll need:
- Workers compensation insurance, Liability insurance
- Vehicle to carry your tools
- HVAC parts like electrical testers, thermostats, temperature controllers, tape measures, and a battery-powered drill
- Safety equipment
- HVAC tools for sheet metal work like folding bar, shears, crimpers, tin snips or aviators, and a staple gun
- Vehicle signage
- T-shirts with company logo
- Marketing materials, such as door tags and business cards
- Website
3. License and certification
Even if you know how to repair HVAC systems, you will need a license and certification. Your target audience won't bother hiring you if you don't have a permit. Complete your HVAC certificate program from a renowned school and obtain your license to start your business. Here are some of the types of HVAC certifications that you may target:
- EPA Type I Certification
- EPA Type II Certification
- EPA Type III Certification
- Universal EPA Certificate
- North American Technician Excellence
4. Make your business look professional
The easiest way to make your target audience trust you is to make your business look professional. This includes setting up your company website, creating a business email, and setting an official business phone number. Don't forget to add signage to the vehicle containing your business name, contact number, and email address.
5. Promote your business
Start by word of mouth. If you want to attract your local customers, don't hesitate to tell your neighbors. A good service will get good reviews, and your present customers can refer your business to others. Alternatively, you should also use social media to your advantage. Start a business page and post regularly to increase your target audience. Don't forget to end every post with a call-to-action message.
It's not overwhelming to start an HVAC business. You just need to set up a full-proof plan, gather funds and certification, and enter the industry with a bang.