Heating, ventilation, and air conditioning also known as HVAC is one of the most successful businesses that one can start today. After a few years of training and consistent acquisition of education regarding HVAC, the world lies at your feet.
As an HVAC technician, you are open to a whole lot of opportunities. However, you could also choose to start your own business and make your own money as a self-employed person.
You see, starting an HVAC business may be a very good venture for you to start, and it can also be very tough. And this is why I will be showing you how to start an HVAC business.
Before going ahead to start an HVAC business, this guide on how to start an HVAC business is a very important read.
Without further ado, let us proceed –
What Is An HVAC Business
HVAC is also known as “Heating, Ventilation, and Air Condition”.
According to this definition, the HVAC business is a business that involves the movement of heated or cooled air to other parts of a building, so as to keep it safe and comfortable for the building habitats.
The business is very profitable business and involves some technicalities.
Later on in this guide, I will be showing you how to start an HVAC business.
How To Start An HVAC Business
1. Prepare a business plan for your HVAC business –
As always, the first step to every business is to raise or get the business plan in place.
Before you get started with your HVAC business, you first of all need to put your business plan in place.
A business plan will help you to decide what services you will be offering, how you will be doing your business, and when you will need more workers and it will even include details regarding the expansion of your HVAC business.
Usually, before writing a business plan, you need to always discuss it with a financial advisor. And also note that your HVAC business plan needs to be properly documented and also updated regularly.
2. Register your HVAC business –
Now, after getting your business plan ready. The next step that you will have to do is to register your HVAC business.
Registering a business comes with a whole lot of stress on its own. And one of the mistakes a lot of newbies make is not to seek the help of a financial advisor.
The process of registering a business, especially a HVAC business varies across countries.
In the United States, you can either register your HVAC business as an LLC or an S corporation for tax reasons. You can also register the business as a sole proprietorship business.
This step will also involve you naming your HVAC business or company.
3. Get a license for your HVAC business –
The third step on our list of how to start a HVAC business is to get a license.
Although this might somewhat sound similar to registering an HVAC business, some countries might even put it together. But in the United States, they are not the same.
After registering your business, you need to ensure that you are legally backed and this is where certification comes in.
Below are the different types of HVAC certifications that you will need –
- EPA Type II Certification—Servicing or Disposing High-Pressure Systems
- Universal EPA Certificate—Servicing All Types of Equipment
- EPA Type I Certification—Servicing Small Appliances
- EPA Type III Certification—Servicing or Disposing Low-Pressure Systems
4. Raise or gather funds for your HVAC business –
Now, after registering and licensing your HVAC business, you need to make sure that you have the funds to get the business started.
While raising funds, you need to consider the following things –
- That the business is new
- The cost of the project that you want to build
- The skills, experience, and qualifications that you would need
- And a lot of others
After considering all these things, this will help you to know how to raise funds for your HVAC business.
Below are a few options to raise funds for your HVAC business –
- Personal capital
- Borrowing or loans
- Government grants
- Investors or an Initial Public Offering (IPO)
5. Get insurance for your HVAC business
Although not compulsory, one of the things that you should consider is to get an issuance for your HVAC business.
Insurance will protect your business from impending disasters or crises.
It will also help to protect your HVAC business tools and equipment, especially if they are misplaced or they get stolen.
You will have to look up some insurance companies and compare them, and find out which one is best for your start-up heating, ventilation, and air conditioning (HVAC) business.
6. Create a business bank account –
A bank account for your business is the next step that you need to take after getting insurance.
With this, you ensure that all money that enters the company actually enters the company’s bank account
And also, all the company that leaves actually exits via the company’s official bank account.
This will greatly help your HVAC business during the time of auditing and accounting.
Laws on how to create a business bank account actually vary across countries, and in most countries, you would need to be registered and licensed before you can have a business bank account for your HVAC business.
7. Start Hiring workers for the HVAC business
When everything is done and the structure is built, this is now the right time to hire workers for your HVAC business.
Hiring workers for your HVAC business is not a thing that you should take lightly, as most times, the workers will be in customers’ homes and as such, representing the company.
You want a trustworthy person and someone that would not bring a bad reputation to your business. And also, I want people with the right skill set.
How Much Does It Cost To Start A HVAC Business?
The price of starting an HVAC business actually depends on your country. And as obvious as it is, the HVAC business industry is a very competitive one and would require a whole lot of capital.
Depending on the size of the HVAC business that you will be starting, you might need around $1,500 to over $15,000 before proceeding to start up the business.
What Skills Do You Need For HVAC Business?
To start your HVAC business, you will need some management skills and a lot of other skills, depending on the size that you want the business to be.
Below are a few skills that you might need to start an HVAC business –
- Mechanical skills
- Critical thinking
- Customer management
- Time management
- Effective communication
Frequently Asked Questions
What does HVAC stand for in business?
HVAC as I had said earlier, simply stands for Heating, Ventilation, and Air conditioning
Is Starting An HVAC Business Worth It?
Yes, starting an HVAC business is definitely worth it, especially if you are in for the experience and the cash.
Can I Do A One Man HVAC Business?
Yes, you can have a one man HVAC business. However, it would be somewhat hard for you to be able to manage the whole business by yourself.
Can I Have A Successful HVAC Business?
Yes, you can have a successful HVAC business depending on how you work for it.
Most of our area of discussion in this article is based on how to start an HVAC business in the United States. Although we have made a few tweaks and acknowledged that your country’s laws may differ and this could definitely affect how you can start your HVAC business.
Nevertheless, this guide is still useful and will help to get you started anywhere you are on how to start an HVAC business anywhere you are in the world.