With the pandemic and the war between the two European countries, the financial analyst predicted a recession.
The heating industry has been grappling with challenges since the pandemic.
As a heating company, my board of directors and employees were looking for ways to stay afloat. Inflation has been on the rise since, making businesses almost nonprofitable. We have developed a few strategies to ensure that the heating business is still operating and earning profit even with the upcoming recession. One of the ways we intend to survive is to digitalize many of our processes, including booking appointments. We work with a set of engineers who developed applications, linked to our website. These applications allow our customers to book heater maintenance appointments with our heating technicians and keep up with the changing trends in the industry, including new heating devices such as heat pumps and smart thermostats. The engineers work with our HVAC professionals, who know more about heating and can advise on the industry’s behavior patterns and trends. Digitalizing the processes save on operational costs, which would otherwise weigh the company down. Another strategy we have devised includes having contractual heating dealers to help with indoor comfort. Services such as heat pump installation are charged extra because of the high fuel prices and device costs. Even with the high inflation, we have provided our customers with whole-home heating. We receive excellent customer reviews, which shows us that we are on the right track with service production. We predict success for the business even with the impending recession because the weather patterns are still present, and homeowners still need quality comfort.