Sometimes it’s not easy letting go of what you strongly believe in but that’s exactly what my partner and I faced 2 years ago.
We figured out business strategy was not effective anymore and we needed to adopt or wind up.
Our HVAC business was drowning in debts because we buy HVAC equipment on hire purchase and sell in cash to clients. However, with the entry of new competition, we faced direct competition that cut into our products. But an expo in a state down south taught us to think outside the box. For one, we didn’t know our state allowed for rebates so that is one thing we implemented and also introduced an air conditioning service plan to lore and trap more clients to broaden our HVAC service market. The current service we offer on, air quality systems attract lots of charges that make clients shy away. These ideas increased our awareness and encouraged us to purchase new HVAC in cash and retail in cash. Now with more quality HVAC that meet seer ratings demands, we were able to offer rebates without hurting our profit margin. The demand for cooling systems was just as high as the demand for radiant heaters and portable space heaters. The increase in business also prompted me to hire a second full-time HVAC contractor and a field a/c workman who works 24-hours. Most notably, our turnaround time for air conditioning installation became shorter and so did the complaints or need to revisit all installations to assess whether they were done right or not.