HVAC contractors provide a very important service to the public. Just ask someone whose air conditioner is out when it is 100°F outside. Because of our importance, it is probably not surprising that a large number of individuals who work in the industry want to open their own business one day. There is nothing wrong with this. It is the American way. I am not here to discourage but to urge caution. Unfortunately, when you are as experienced as I am (meaning old), you have seen countless contractors come and go. In fact, just a few years ago, I read an article in this magazine that stated the life expectancy of an HVAC business is only four years.
If you are about to take the plunge and head out on your own, here are some things we have seen that, if you aren’t prepared for, can cause your downfall. We’ll use a hypothetical contractor named John.