As a retirement plan, an ESOP won’t maximize the sale price of an HVAC company. But for owners looking to carry on their legacy, it will keep the company intact and reward loyal employees who helped them build it.
The last two years have been very good for the HVAC industry, thanks to robust demand for new equipment; however, manufacturers worry that inflation, rising interest rates, and a possible recession could dampen growth in 2023.
As contractors embark on 2023, it is important to keep an eye on the economy without seeing a recession that is not there yet … and might not be here for a while.
Following two boom years, economic signs point toward a slowdown in HVACR industry growth in 2023, but distributors who take the changes in stride should be OK.
When running a business, when is it time to react? If you react too quickly, you can create chaos. Too slowly, and you can fall behind. Three days is a trend.
Just as the pandemic accelerated the HVAC industry’s digital transformation, wholesalers’ dependency on eCommerce as a sales channel has skyrocketed over the past few years.