Thinking about opening a geothermal heating and cooling business? We tell you what you need to know to get started.
Geothermal HVAC Startup Tips
Geothermal HVAC is a sustainable and efficient method for residential heating and cooling. Using geothermal technology and the air exchange between the structure and the ground, geothermal has the potential to reduce HVAC energy consumption by up to 80% - a big savings for consumers and B2B customers.
With energy costs skyrocketing, now is a good time to get started in geothermal heating and cooling entrepreneurism. But the first step is to get educated in the application of geothermal technology and climatic conditions in your target market. Organizations like GeoExchange provide training and other resources for HVAC entrepreneurs eager to take advantage of geothermal energy.
Marketing Advice for Emerging Geothermal Businesses
Although most energy consumers are passionate about efficiency, relatively few are familiar with the benefits geothermal heating and cooling. So to successfully market your startup, you'll need to create a marketing strategy that promotes your business while educating consumers about geothermal HVAC.
- Business Website. In the current consumer energy economy, a first-rate business website is foundational for marketing geothermal products and services to the public. A content-rich website with abundant educational resources is more effective at educating consumers than other traditional marketing resources and with a little SEO, your company will quickly appear on consumers' radar.
- B2B Marketing. Unless you plan to focus exclusively on the residential segment of the geothermal market, you'll need to design a strategy to market your startup to other businesses. B2B marketing tactics are not the same as B2C techniques. For example, in B2B you'll need to intentionally target and pursue individual prospects rather than blanketing the marketplace with messaging and hoping for the best.
- Public Relations. In an era of rising energy costs, PR can be a great way to educate the public about geothermal heating and cooling. Consider creating a press kit to lay the ground for a strategy designed to attract media attention to your business' unique approach to energy efficiency.
How to Write a Top Quality Geothermal Heating & Cooling Company Business Plan
If it includes hard numbers, a geothermal heating and cooling company business plan can become the catalyst for an executable business strategy.
In contemporary business culture, business plans are also litmus tests used by external interests to assess real world viability and marketability.
Learning how to write the market analysis section of a business plan is a critical skill for startup entrepreneurs. It includes the identification of your target market and in many cases, the inclusion of supporting research to back up your claims and sales forecasts.
Before you open a geothermal heating and cooling business in your area, it's a good idea to see how you will fit in the competitive landscape. We've provided the link below to help you generate a list of competitors in your area. After following the link, enter your city, state and zip code to get a list of geothermal heating and cooling businesses in your area.
Is the local market large enough to support another geothermal heating and cooling business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
If you want to open a geothermal heating and cooling business be sure to learn as much as you can from somebody who is already in the business. If you think owners of nearby geothermal heating and cooling businesses will give you advice, think again. The last thing they want to do is help you to be a better competitor.
However, a fellow entrepreneur who has started a geothermal heating and cooling business in a location that is not competitive to you will be much more likely to talk with you, given that you don't compete with them in their area. Many business owners are happy to give advice to new entrepreneurs If you are persistent, you can find a business mentor who is willing to help you out.
How would you find an entrepreneur who is running a geothermal heating and cooling business in another city who you can speak with?
Simply, try our helpful link below, type in a random city/state or zipcode, and start calling.
Getting Started in Geothermal Heating & Cooling Business Ownership
Would-be geothermal heating and cooling business business owners can either launch a new business or acquire an existing operation.
Startup geothermal heating and cooling businesses can be attractive because they allow the entrepreneur to have more control and greater influence. Yet startups are also more difficult to finance because their nature is inherently risky.
Armed with several years of actual financials and a current asset appraisal, it is much easier to convince lenders to take a chance on a geothermal heating and cooling business acquisition. On the whole, buying a business minimizes uncertainty as well as many of the objections lenders use to disqualify startup entrepreneurs from financing.
Consider Buying a Franchise
The probabilities on your making a success of your new business immediately improve if you opt for franchising and leverage their successful brand and track record.
Before you consider starting a geothermal heating and cooling business, it's worthwhile to assess whether buying a franchise could make your life much easier.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you currently own a geothermal heating and cooling business, these resources will come in handy:
If you sell to geothermal heating and cooling businesses, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.