Why Now is a Great Time to Start an HVAC Business
What do you mean ‘HVAC is Pandemic Proof’?
You’re thinking of opening an HVAC franchise, but it’s been almost two full years since the beginning of the COVID-19 pandemic. While it doesn’t seem to be going anywhere, one thing COVID-19 and it’s subsequent variants have taught us, is that some businesses are more at risk of closure and economic instability than others.
Is now the right time to open a business?
Though the thought of the pandemic sticking around itself has caused many people to shy away from starting a new business. What COVID-19 has really has shown us is why now is an excellent time to get into the HVAC industry. While restaurants, and retail stores have closed their doors or transitioned to an “online only” format, HVAC technicians have been hard at work updating ventilation systems and installing new HRV equipment, HEPA filters, and UV-C sanitation lights.
Top 5 Reasons Why Now is the perfect time to open an HVAC franchise:
So without further delay here are my top 5 reasons why now might just be a perfect time to branch out into the HVAC industry via opening a Penguin Heating & Cooling Franchise.
- Like grocery stores, hospitals, gas stations and telecom companies; heating and cooling are essential services. Meaning regardless of what’s happening in the world around you, the work is steady, 24-7/365 people have HVAC needs. Even if, all things forbid, it comes to another global shutdown, HVAC companies will remain open as essential services. When your furnace, air conditioner, generator, roof top unit, or duct work needs servicing, it doesn’t need it done next month or next year, it needs to be working NOW. This is especially true for commercial buildings like hospitals, factories, restaurants, etc. With more people working from home than ever before, having up to date and properly working home comfort equipment is more important now than ever. Between residential HVAC work, and commercial contracts there will always be a steady stream of jobs to do even in the most upsetting of global situations.
- When starting a business, you need to take a look at the area market as a whole, as well as the global economy, and while experts are predicting some unsteady times ahead and even some downward trends that could show a recession people ultimately still need the essentials. In North America, especially in northern areas like the northern United States and Canada, people rely on their furnaces heavily for at least 6 months of the year. And throughout most of North America from the tip of Florida in the southern most part of the continent all the way to the northern most remote communities especially in the center of the continent people rely heavily on their central air conditioners to get them through the other 6 months of the year. That gives the HVAC technician a wide range of customers to target, with nearly every homeowner, to commercial office managers to apartment complexes and industry both big and small, the market potential is massive and ever increasing.
- While HVAC is generally a competitive industry often with multiple companies servicing the same area, finding qualified people providing quality service isn’t always as easy as one might think. The size of your area market will be ever increasing as contractors build new homes and retail spaces, all of which require HVAC systems, so providing quality service, with a reputable brand name attached will give you an advantage over the competition. Between new construction installations, and servicing older systems in residential neighborhoods you will likely find yourself with an ever-increasing client base, allowing you the peace of mind and the knowledge that the market will continue to grow.
- The best part about the HVAC industry is that air conditioning and heating systems is a needs-based service, rather than one based on wants or whims. While other industries can market their fifteen minutes of fame on the latest trend or newest technology, heating and cooling equipment is required to keep your customers comfortable year round. Especially during these uncertain times, filtering air throughout a home or business has never been more important than it is now. The necessity of the HVAC industry provides job security for the technicians, business owners, franchisees, and with the right marketing and sales training, it provides the customers with a positive relationship with the business as well, as they learn to rely on the company to provide outstanding service and trustworthy products.
- Timing, timing, timing. While the rest of the world is laying low in recession mode, carefully guarding their assets, now is the perfect time to invest in an HVAC franchise. There are plenty of opportunities for small business loans and start-up grants in communities that have been hard hit by the pandemic. And because lenders are risk averse, you’ll be starting up lean, which is the ideal way to start out a new business. HVAC profit margins have a tendency to be fairly high compared to other trades, so you will be earning money sooner than with other franchise models enabling you to invest more in your business and yourself.
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