Expanding your HVAC business can be the best thing that happens to you - all depending on where the economy stands, what your competitors are or aren't doing, and your willingness to departmentalize.
Here are a few things to consider before growing:
Can you actually save money by buying in bulk now that you've expanded? This is a huge question to ask yourself, and it's important to know if the cost effectiveness outweighs the amount you're putting out. Costs-per-unit generally go down once you've expanded your business, and you'll be able to use your resources across multiple platforms.
Look at competitors
If your competitors are looking into other service offerings like plumbing or even furniture and appliance sales, you can do one of two things: take a wait-and-see approach or follow their lead. Looking at how their customers respond to the growth can be beneficial to your decisions on expansion.
Willingness to delegate
Expect a change in how you fit into the company. Perhaps you're used to overseeing every single aspect of the operations; when your company expands to additional services, it's important to delegate key areas to other employees. Your ability to micromanage will diminish, and you should have people to put in place whom you can trust.
As your company grows, you'll definitely need specialized training for all those new supervisors. Look into programs that are cost-effective and give multiple employees training that's convenient.