As an HVAC contractor, managing your pricing has always been an important part of your business, but this past year had made it more critical than ever. Many contractors we have spoken to recently have described the perfect storm of challenges facing their businesses:
- Strong demand for services, but continued lack of skilled labor
- Equipment shortages creating delays and disruptions
- Inflationary pressures increasing the cost of doing business
If you don’t play close attention to your pricing strategy, these factors can damage your profits and growth prospects.
Dial in Your Pricing Strategy
When your costs increase, whether it’s equipment or labor, it’s critical to have a strategy for how you incorporate those costs into your business. HVAC businesses are not alone in dealing with this problem. We’ve scanned the web for some expert advice, and found a few that are worth your time.