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This is a well-established, 40-plus-year HVAC company serving the Triangle area. The company offers commercial and residential HVAC solutions.
Services include installations, repairs, preventative maintenance, and emergency services. The business is 75% residential and 25% commercial.
The company currently has more work requests than they can handle. They have two full-time technicians (including the owner) and rely on contractors for installations.
The Business is currently home-based.
The company should hire new technicians and advertise to increase revenue. To increase profitability, the company could raise prices, buy in larger quantities, and/or develop inventory.
The global market for HVAC & plumbing is projected to reach $370B by 2030 with a CAGR of 3.9% between 2020 and 2030. New technology, such as systems connecting HVAC, lighting, and security using voice control systems is driving residential and commercial demand. With high fixed costs and high accounts receivable, HVAC companies depend on high volume for profitability.
Most companies in the industry are small (60% of US plumbing and HVAC contractors have fewer than 5 employees). Small companies can gain a competitive advantage by serving a focused market with excellent customer service or by providing specialized products and services.
Demand for HVAC services is heavily dependent on new home construction and existing home sales. Demand for air conditioning units has increased as there has been a net migration to the Sunbelt, with a hot and humid climate. Increasing environmental and workplace safety concerns are also increasing demand for efficient HVAC systems.
Maintaining a high-quality workforce of contractors is a pivotal concern in the industry as they need technical skills and certifications, and earn higher pay than the national average. Fluctuating commodity prices, seasonality, and high insurance costs are additional business challenges.
Owner retirement.
Monday-Sunday 24 hrs.
Will train for 4 weeks @ $0 cost.
Lender pre-screened with $44,995 down.
