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    3 Replies Latest reply on Jan 30, 2009 3:49 PM by bmt2008

    HVAC Service/Repair Startup

    Darren_M Newbie
      I want to secure a 50k line of credit for an HVAC startup. I have been working in the HVAC field for several years and see a need for this niche market here in Northern Colorado. I am only interested in Residential equipment. There is a gluttony of Commercial Service companies in the area, and the residential companies are only interested in selling new furnaces to people. When I'm actually dispatched for residential repairs, after parts, I am billing approximately $1500.00 to $1700.00 of profit for my company. I feel like I'm ripping off some of the clients, and it sickens me. I'm not trying to get rich. My goal is to grow my company as the economy recovers, and to be the most trusted, respected, service-oriented HVAC Service and Repair Company in Northern Colorado. I need the credit available for parts, while waiting for checks and credit cards to clear. My business hours are also going to be 2pm -10pm Wednesday through Sunday so people can be home and don't have to take off work and lose money if they don't want to. I will have a general stockage of repair parts on my van to get a unit running if I have to wait for a specific part, and will also honor warranty repairs. I retired from the Army in 2004, and owning my own business has always been my goal. Once established and extremely busy, my wife will be doing the books and dispatching, my business hours will change to encompass a 24hr on-call service, and I will hire 2 additional technicians. My goal is to have a service department, install department, and controls department and approximately 40 full-time employees within 7 years.

      What's the best way to secure the line of credit?
        • Re: HVAC Service/Repair Startup
          LUCKIEST Guide
          HVAC Service/Repair Startup, Welcome Darren??

          First go to Members page and add some info.

          The best way to secure a line of credit is to write a Business and Marketing Report FIRST.

          Do you know about SCORE. SCORE is FREE both online and in person and they can also help you develop the
          business report.

          Good luck, LUCKIEST
          • Re: HVAC Service/Repair Startup
            barterbroker Wayfarer
            Darren,

            Please email or call

            dbutts@tradebartermutual.com
            1-866-546-8737

            David
            • Re: HVAC Service/Repair Startup
              bmt2008 Adventurer

              Sounds like a great opportunity you have. Seems with a lot of hard work, you can easily meet your goals. One quick questions - why not be in business to make a ton of money. I have found that when money is not the driver in a business, the business will fail. It is OK to charge less or even charge more as you are offering more services then the competition. But, you still should be in this business to make tons of money. The reason is that if you are focused on your revenue and profits, you will make the right decisions (true business decisions) when needed. If you are focused on other avenues and not profits, you will break your business and yourself.

              How is your credit? You can get the funds you are seeking but must have good/excellent credit.

              You can use credit cards (your own credit cards). Most credit card companies offer low intro rates plus statement and grace periods. Thus, what you put on the card today may not be due for two or three weeks (allowing you time to collect from your customers).

              If you are looking to purchase equipment (van, tools, etc.) there are many companies out there that can provide the funding you need.

              Being a vet, you would also stand a higher chance of being approved for a SBA loan - they have many new programs (many are express programs) for Veterans.

              So, you may be able to cobble together what you need from different sources.

              Just some thoughts

              Business Money Today

              www.businessmoneytoday.com