Data Shows HVAC Businesses Bouncing Back
There’s no denying the devastating effect that COVID-19 has had on the U.S. economy. But to better understand the specific impact of the pandemic on the trades, Housecall Pro, a leading software platform for home service professionals, created real-time industry-specific reports using data from over 70,000 home service businesses. The reports provide a comparison of scheduled and completed jobs and cancellations between 2019 and 2020 per state and nationwide.
The data reveals insights on how the pandemic has impacted field service businesses in different regions of the country. Individual businesses can use the data to see how they’re faring compared to state and national averages. The data can also be used to predict future trends within the industry.
“Running your business without knowing your numbers is like running a business blindly,” explained Roland Ligtenberg, co-founder and Senior Vice President of Growth and Innovation at Housecall Pro. “Industry benchmarks help you contrast and compare where you are in relation to the industry and also your location. Not using it to your advantage puts you at an immediate disadvantage.”
These benchmarks can help businesses be more strategic about things like their marketing spend and hiring decisions.
Number of Scheduled Jobs Are Bouncing Back
Since the fourth week of the year, the number of scheduled and completed jobs have trailed behind what we saw in 2019. As expected, numbers dropped most significantly in March. State-specific data shows a direct correlation between when a state-issued its stay-at-home order, a decline in scheduled jobs, and an increase in cancellations. But as states begin to reopen, the number of scheduled jobs are bouncing back across home service industries, including heating and air conditioning.
In the 22nd week of 2020, beginning May 24, the number of scheduled jobs surpassed last year’s numbers for the first time since January. For HVAC businesses in particular, the indexed average of scheduled jobs rose to 170 in week 22 compared to 153 scheduled jobs in 2019. The data also shows a nearly unbroken upward trend since week fourteen.
“Looking into the 2020 numbers, it’s amazing to see it beyond 2019 levels, but what it really tells us is that with the increasing dwell time of homeowners comes increased usage of systems to keep them comfortable,” Roland explained. “This means that typical lifecycles are accelerated and will need repairs more quickly, more often, and ultimately need replacement much sooner. This will boost demand to levels much higher than simply just ‘returning to normal,’ the new-normal is above the old normal. Companies using Housecall Pro will be able to see and take advantage of that, and those not will be at a disadvantage.”
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