Hello Everyone, I am happy to have found this group and I am looking to interact with link minded entrepenuers .
I am own HVAC franchisee, I opened my heating company in March 2009, I just turned 30 last week.
my first year in business I did 60K in sales and earned zero income, with a net loss of 6K dollars, Gross profit was 30%
my second year in business I did 150K in sales earned zero income, with a net loss of 8K dollars Gross profit was 35%
my 3rd year in business I decided I had to do something drastic to start earning income, I acquired my competition and will see my sales hit 350K in revenue. my goal for 2012-13 is 500K in revenue with a 10 percent ebitda
my management fee is 8% of revenue
I acquired my competition in the middle of the year and saw huge growth. I am now finally paying myself 3-4K per month, I have 2 full time technicians on the road both in 2011 and 2008 service vans an office staff and part time salesman. we outsource our inbound calls for booking appointments and allows us not have our phones staffed 24 hours a day
The system is in place now that allows me more time to spend with family and focusing on building my business.
the competition in my city is so large with over 60+ competitors in a city of 125K people it makes it very hard to get my margins. we are still not the most expensive but there are a lot less expensive firms that can't compete with my level of service or professionalism
even with the margins we set, I don't know how my competitions is staying in business. Heating and Air conditioning products and services have become a commodity. We are trying very hard to rise above that status and show people that our company has great value,
my Vison is to have a Million dollar residential heating company by February 28 2015 with a net profit of 10-25% (some franchises are doing 20+) The growth is a slow due to the target market we are after.
when I get to 1 million a year I could essentially hire a general manager and collect my 10% so the income potential is good 100-180K per year. I want 300K+ per year.
My company (me) just bought 2011 chevy Avalanche company vehicle to do business in (it was a little treat for the 3 years of handwork and dedication. (it was not a financially smart decision but whats the point of if we can't indulge once in a while)
I am looking for other things to do on the side, I am happy to have my business where it is, but I feel like I could do something on a larger scale, my business is so localized, that I want to do something that could cater to a larger market place.
I am hoping to find inspiration and motivation from this group.
please let me know what you think , I am very hard on myself and sometimes feel like my accomplishments are not large enough
If I can help in anyway please send me a message
Thanks
XYZ
I am own HVAC franchisee, I opened my heating company in March 2009, I just turned 30 last week.
my first year in business I did 60K in sales and earned zero income, with a net loss of 6K dollars, Gross profit was 30%
my second year in business I did 150K in sales earned zero income, with a net loss of 8K dollars Gross profit was 35%
my 3rd year in business I decided I had to do something drastic to start earning income, I acquired my competition and will see my sales hit 350K in revenue. my goal for 2012-13 is 500K in revenue with a 10 percent ebitda
my management fee is 8% of revenue
I acquired my competition in the middle of the year and saw huge growth. I am now finally paying myself 3-4K per month, I have 2 full time technicians on the road both in 2011 and 2008 service vans an office staff and part time salesman. we outsource our inbound calls for booking appointments and allows us not have our phones staffed 24 hours a day
The system is in place now that allows me more time to spend with family and focusing on building my business.
the competition in my city is so large with over 60+ competitors in a city of 125K people it makes it very hard to get my margins. we are still not the most expensive but there are a lot less expensive firms that can't compete with my level of service or professionalism
even with the margins we set, I don't know how my competitions is staying in business. Heating and Air conditioning products and services have become a commodity. We are trying very hard to rise above that status and show people that our company has great value,
my Vison is to have a Million dollar residential heating company by February 28 2015 with a net profit of 10-25% (some franchises are doing 20+) The growth is a slow due to the target market we are after.
when I get to 1 million a year I could essentially hire a general manager and collect my 10% so the income potential is good 100-180K per year. I want 300K+ per year.
My company (me) just bought 2011 chevy Avalanche company vehicle to do business in (it was a little treat for the 3 years of handwork and dedication. (it was not a financially smart decision but whats the point of if we can't indulge once in a while)
I am looking for other things to do on the side, I am happy to have my business where it is, but I feel like I could do something on a larger scale, my business is so localized, that I want to do something that could cater to a larger market place.
I am hoping to find inspiration and motivation from this group.
please let me know what you think , I am very hard on myself and sometimes feel like my accomplishments are not large enough
If I can help in anyway please send me a message
Thanks
XYZ
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