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Hope springs eternal, but sometimes we rely perhaps too much on mysterious external forces, to provide a ‘better year than last year.’ If it seems like you can never feel safely profitable enough to afford a proper vacation, or contribute to your retirement nest egg, it might be time for a financial best practices tune-up.

HRAI19082018hHRAI has developed a Financial Management Program (FMP) for HVAC contractors that reviews the basics of profitability, financial planning and even succession planning, for when it is time to sell the business. It was prepared by experts in our industry and costs just $50 for members.

It will help you ready your financial statements from a different perspective, understand why accountants emphasize the difference between fixed and  variable expenses, and identify exactly how many billable hours you need to cover your overhead.

Sometimes we think more sales will solve everything, when in fact they won’t, because we’ve established systemic barriers to profitability. HRAI’s Financial Management Program will help you reconsider your assumptions. Maybe service work is more profitable than retrofit work, and less sensitive to price increases. Maybe you should train more in some of the specialty niche areas, or newer energy-saving appliances. Are there ways to plan for longer margins without losing customers? If so, next winter you might find yourself sipping Mai Tais on a beach in Hawaii.

The HRAI Financial Management Program (FMP) is $50.00 plus applicable taxes for HRAI Members and $150.00 plus applicable taxes for non-members.

To obtain the order form please click here.

If you require more information, please contact Catherine Contreras at ccontreras@hrai.ca or call 1-800-267-2231 ext. 264