HVAC franchises offer a unique opportunity to become your own boss while also leveraging the support of an established HVAC brand. Before you jump into HVAC franchise ownership, it’s important to understand what benefits they offer, how much they cost and tips for managing them successfully.
In this guide, we will cover all these topics so you can make an informed decision on whether or not owning an HVAC franchise is right for you.
HVAC Franchise Overview
HVAC franchises provide heating, ventilation, and air conditioning services, such as equipment installation, repair, routine maintenance, and design services.
These systems are increasingly complex and require expert knowledge to install, maintain, and repair them. The average home owner doesn’t know how to repair their the ventilation system, HVAC business owners provide a solution.
Most franchises focus on residential HVAC services to start, and branch out to commercial once their franchise runs like a well-oiled machine.
How Much Do HVAC Franchise Owners Make?
HVAC is an industry with high demand giving owners the potential to earn a lot of money.
On average, HVAC franchise owners can expect to make between $50,000 and $100,000 annually. Income varies greatly depending on factors such as location, the size of the business, and how much work is done by the owner or hired help.
HVAC owners who specialize in repair and maintenance services can make more money than those who focus mainly on installation.
It’s important to evaluate franchises correctly to choose a HVAC franchisor that best fits your needs.
HVAC Franchise Startup Costs & Operating Expenses
HVAC franchise startup costs usually range from $50,000 to $100,000 but cost varies depending on the size and location of the business. The initial capital is used to cover equipment and supplies, as well as training personnel in order to meet the high standards expected from HVAC franchises.
Operating costs for an HVAC franchise can range from $5,000 to $10,000 per month. A few examples of operating costs include:
- Hiring and training personnel
- Purchasing new equipment
- Managing inventory
- Handling maintenance and repairs
- Franchise royalty fee
- Local taxes (if applicable)
Remember that HVAC franchises are long-term investments and should be approached with a business plan in mind. With the right business plan and execution, HVAC franchises can provide a steady stream of income for franchisees over time.
HVAC Franchise Benefits
HVAC businesses offer a unique opportunity, here are the advantages of owning an HVAC franchise.
Customers often seek out HVAC franchises because they know they can trust the quality of service they will receive. As a franchise owner, you can also take advantage of promotional materials, such as branded T-shirts, keychains and other items, to advertise your business and increase customer demand.
HVAC franchises are able to provide better service offerings than non-franchised HVAC businesses due to their access to exclusive products and services. Franchisees benefit from the economy of scale that comes with being part of a larger HVAC network – meaning they can purchase products and services at a lower cost than non-franchised HVAC businesses.
Training & Support
HVAC franchise owners also have the opportunity to take advantage of specialized HVAC training programs that equip them with the skills and knowledge they need to identify HVAC issues quickly and efficiently. Franchisees are given the tools to optimize their businesses and maximize profitability from the start.
These are only a few of the many advantages of owning a HVAC franchise.
Tips to Start a HVAC Franchise
We asked experienced professionals what advice they’d give someone looking to start an HVAC franchise and these were the most common answers.
1. Don’t Skimp on Research: Take time to research opportunities and choose one that best suits your needs.
2. Find Proper Financing: Obtain enough financing from a bank or other lending institution to start the franchise.
3. Develop Relationships With Suppliers: Establish relationships with suppliers in order to obtain discounts on HVAC equipment, parts, and services needed for running the business.
4. Create an Effective Marketing Plan: Create effective advertising and marketing strategies to increase customer awareness of your HVAC franchise’s products and services.
5. Hiring and Training Employees: Hire qualified HVAC technicians to perform installation, repairs, and maintenance services for customers. Additionally, train your employees on the latest HVAC technology, safety protocols, and customer service best practices.
6. Develop Quality Control Systems: Develop quality control systems to ensure that all HVAC services are performed correctly and in a timely manner.
7. Create Service Agreements: Create HVAC service agreements for customers to purchase which will guarantee regular servicing of their HVAC systems, as well as extended warranties on HVAC products.
8. Be Up-to-Date on HVAC Technology: Keeping up with the latest HVAC technology enables you to offer the best HVAC services and products for your customers.
9. Establish an Online Presence: Create a website, social media accounts, and other online marketing channels to increase customer engagement and attract new HVAC customers.
10. Stick to Your Budget: Monitor expenses closely and stick to your HVAC franchise budget to ensure that you remain profitable.
These tips will help get your franchise off the ground and running successfully.
Is HVAC Right For You?
Interested in owning an HVAC franchise after learning about it? Get a franchise concept evaluated to see if it aligns with your skills and financial goals.
Our franchise experts have over 20 years of experience in the industry as franchisors and franchisees themselves. They know what to look for and how to set you up for success from the start.
Get a free franchise evaluation by contacting our team.