To help you find these leaks before they drain your profits, we are sharing with you a series of questions that we use in our “Profit Leaks Audit” we offer to companies to pinpoint where they’re leaking profits and how much.

 

Let’s dive in.

Profit Leak #1: Real-Time Processing of Service Requests

• How many service requests (calls, emails, portals) are you getting a day?

• How many service requests are you processing in real-time?
• Out of those you're not resolving in real time, how many don’t convert to work orders?

Profit Leak #2: After Hours Service Requests

• How many service requests are you getting outside of work hours each week?

• How many of these are canceled or don’t convert to work orders?

  
  

Profit Leak #3: On-Site Work Orders

• How many new on-site work orders does your technician generate each week? 

• How many estimates are going out in real-time while technicians are on-site?

• How many of these are canceled/rejected/don’t turn into work orders?

 Profit Leak #4: Invoice Disputes

• How many invoices per month are being disputed?

• How long does it take to resolve a dispute? How many service requests do you miss out on meanwhile?

 

Profit Leak #5: Credit Hold and Collections

• How many accounts per month are being put on credit hold?

• How many work orders do these accounts usually generate each month?

• What percentage of monthly sales goes to external (third-party) debt collection?

• How many accounts on credit hold/debt collection never reorder (lost customers)?

 Profit Leak #6: Preventative Maintenance

• How many active accounts do you have?

• How many of them have recurring preventative maintenance programs?

 

Profit Leak #7: Employee Productivity

• How many $50/hr employees are doing $5/hr jobs?

• How many invoices does your staff currently process?

  
  

 Profit Leak #8: Multiple Truck Rolls/Triage

• How many multiple truck rolls per service request do your techs go out on?

 Profit Leak #9: Inactive Client Accounts

• How many clients haven’t put in a service request in the past six months or longer?

Ok, that was a lot of questions! But you’re still here, right? 🙂

Answering these questions is critical to uncovering where your business could be leaking profits.

And by now, you’ve probably identified one or more leaks that could be costing you hundreds of thousands in profits (and maybe even millions every year).

Finding these leaks is the first big step. But then the question is, how do you plug these leaks?

Check out our “Profit Leaks Fix” series tackling each of the areas above to help Field Service Companies keep and add more profits to their bank account without hiring new techs (or while hiring fewer techs).

 

Meanwhile, if you’d like to do a deep dive into these questions…

 

Right now, we’re offering the “Profit Leaks Audit” to help HVAC Equipment Service Companies uncover where they’re leaking profits and map out an action plan to plug the holes in their business and add more profits to their bottom line.

 

As you can imagine, it takes a lot of work to dive into your business, uncover these leaks, and map out a custom action plan for you. We could easily hang a $1,000 price tag on this and have our pick of people. But because of everything going on with COVID and the economy, We don’t want to make it any harder for HVAC Equipment Service Companies to keep more profits in their bank accounts.

 

We’ve decided to offer ten slots of the Profit Score Quiz (each worth $1,000) for the next ten executives who reach out to us to run their business through this.

 

If you’d like to claim your “Profit Leaks Audit”, send us a message and let’s schedule a Zoom call.

 

We’d love to hear from you on how many Profit Leaks you've identified in your business. Leave a comment below with your answer.

 

Yassin Shaar

Chief Growth Officer