Trade Talk with JB Warranties

We've been talking about the upcoming HVAC regulation changes recently, and we've got some more experts joining us to dig in some more. Matt Michel from Service Roundtable and Bryan Davenport from Trane Technologies sat down with Tommy Cue to discuss the changes.

Here's a breakdown of what they discuss:

• Expected changes
• Efficiency and testing changes
• System match-up changes and ratings
• Existing inventory
• Expectations for number of units sold in 2023
• Equipment pricing
• How to prepare

On this episode of Trade Talk, Tommy Cue talks with Allison Skidd the Sr. Manager of Global Regulatory Affairs with Rheem about the upcoming 2023 HVAC regulations. Allison is considered an expert on the regulations and shares her insight on what HVAC contractors can expect.

Connect with Tommy and Allison:

Tommy Cue, JB Warranties
Allison Skidd, Rheem

On this episode of Trade Talk, Brian Bohannan talks with Kevin Thornton about the new JB Warranties Marketplace. The Marketplace offers dealers and other types of businesses (even doggy daycares) the opportunity to work on their own businesses to help them thrive and accomplish business goals with vetted businesses.

Here's a breakdown of what you'll learn:

• Why did the marketplace come about?
• Three key purposes of the marketplace is to help businesses:Grow revenues
  Stay on top of or maintain their business expenses effectively
  Mitigate risk
  
• No pay-to-play necessary - you don't have to be a registered JBW dealer to participate.
• Deep dive into the four categories available:

Financing & Accounting
Human Capital Management
Marketing & Communications
Field Service Management

Connect with Brian and Kevin:

Host:
Brian Bohannan

Guest:
Kevin Thornton

On this episode of Trade Talk, Marc Piper the Project Manager for JB Warranties shares some details about the free print materials they provide to customers to help them market extended warranties.

Here's a breakdown of what you'll learn:

• Quick walkthrough of JBW free print marketing materials available to customersPrintshop capabilities
  HVAC trifold, flyer, postcard, and coverage form
  
• NEW Addition - Renewals Postcard
• Direct Mail MarketingSpecifically targeted
  It’s tangible. The recipient has to touch it so they have to see it.
  It’s personalized.
  Mail is familiar to everyone.
  Direct mail response rates are between 5% and 9%. The 5% rate is mostly for envelopes.
  

Connect with Participants:

Hosts:
Alanna Jackson and Stacy Jackson

Guest:
Marc Piper

On this episode of Trade Talk, Rick Nadeau the Director of Training and Technical Services for Samsung shares some of his insights on HVAC trends, training, and technology. Rick has been in the HVAC industry for 36 years and is a thought leader when it comes to HVAC.

Here's a breakdown of what you'll learn:

• How he got started in the HVAC industry
• What it’s like working for Samsung
• Wind-Free™ Technology
• Trends over the last couple of years dealing with COVID and ways Samsung has adapted
• What’s involved with Samsung’s Mobile Training Centers
• HVAC trends related to support and technical training

Connect with Nick and Rick:

Host:
Nick Ahrens

Guest:
Rick Nadeau, Samsung

On this episode of Trade Talk, Dustin Gregoire, a National Sales Manager from Bosch, joins us to share some of his insights on several topics. He's been in the HVAC industry for a while, so he knows a thing or two about a lot of different areas.

Here's a breakdown of what you'll learn:

• What it's like working for a global company.
• Dustin explains why their identity of "high volume provider of niche products" and slogan "Invented for life" is key to their success.
• Purchasing HVAC trends.
• What contractors want from distributors.
• How IoT has impacted the HVAC sales process.
• The Next BIG thing in HVAC.
• Benefits of geothermal systems.
• Should contractors offer geothermal systems?

Connect with Nick, Brian, and Dustin:

Hosts:
Nick Ahrens and Brian Bohannan

Guest:
Dustin Gregoire, Bosch

On this episode of Trade Talk, Chad Martin from Atwood Rentals HVAC shares his insight on why more and more customers and contractors are looking to them for help when purchasing a new AC system. He digs into the rent-to-own side of HVAC and how it's becoming more popular with contractors and customers.

Here’s a breakdown of what you’ll learn:

• Importance of the partnership with JB Warranties.
• How to help customers get a new AC system without having a great credit score.
• What’s needed from a homeowner to rent an AC system?
• Why each system comes with a 5-year warranty - How long are the rental terms? And does the homeowner get to choose their terms?
• How their model is built for success - win for the contractor and the customer.
• 2020 vs 2021 vs 2022 - How has business been and what does the future look like?
• How does a dealer get involved with Atwood Rentals?

Connect with Tommy, Will, and Chad:

Hosts:
Tommy Cue and Will Basko, JB Warranties

Guest:
Chad Martin, Atwood Rentals HVAC

If you've thought about selling your HVAC business, then you don't want to miss this episode of the three-part series of the Trade Talk podcast. Brandon Bolen from Live Oak Bank and Patrick Lange from Business Modification Group breaking down what HVAC owners need to do to prepare their business if they want to sell. They offer advice on how to boost the value of a business to ensure a seamless process.

In part 3, you'll learn:

• What’s the value of service/maintenance contracts and warranties? Do they boost the value of your company?
• Are self-funded warranties a good process to have in place when selling your business? What are the risks?
• Four key areas to focus on if you want to sell:
  - Business focused on maintenance/service
  - Clean books and records
  - Minimize involvement in the field
  - Invest in technology
• What’s the timeline when someone wants to sell their business?
• Final advice for buyers and sellers.

Contact Guests:

Patrick Lange, Business Modification Group

Brandon Bolen, Live Oak Bank

If you've thought about buying an HVAC business, then you need to catch part two of this three-part series episode of the Trade Talk podcast. Brandon Bolen from Live Oak Bank and Patrick Lange from Business Modification Group are digging into the process of buying an HVAC business and answering the questions you may have if you're looking to buy. Make sure to listen in and don't forget to catch part 1 on selling your HVAC business.

In part 2, you'll learn:

• What is an SBA 7A loan?
• When to get a Conventional loan vs an SBA loan.
• What is the approval process and timeline look like?
• Will the bank look at my personal credit?
• When it comes to private equity - How do you compete with those out there willing to spend more money?
• What FAQs do banks get asked the most?
• Is it more difficult for a family member to purchase a business rather than an outsider?
• How do you go about a group buying purchase?

Connect with Guests:

Patrick Lange, Business Modification Group

Brandon Bolen, Live Oak Bank

If you've thought about buying or selling an HVAC business, then you need to catch this three-part series episode of the Trade Talk podcast. Patrick Lange from Business Modification Group and Brandon Bolen from Live Oak Bank are answering the questions many of you have regarding this topic. Watch all three parts to learn about the ins and outs of buying, selling, and funding an HVAC business.

In part 1, you'll learn:

• What business owners need to do with their accounting to make it easy to sell their HVAC business.
• Why repeat revenue and warranties help sell your business.
• Why you should minimize involvement in new construction.
• Why involvement from the owner should be minimized.
• What to do if you're looking to acquire.
• What buyers need to know.
• What to do to get your business listed to sell
• and a lot more!

Connect with Guests:

Patrick Lange, Business Modification Group

Brandon Bolen, Live Oak Bank