What's your definition of a millionaire? Someone who's total net worth exceeds a million dollars? Or someone who's sitting on a million liquid?
Why limit yourself to just a million...

 

What you take home in a year.

 

yes and I couldn't fix an ac unit if you had a gun to my head.

 

?

 

Define millionaire please. Could you use it in a sentence, Alec?

If you want to be a "millionaire" there are many other ways that will get you there quicker with much less headache and physical labor.

 

What other ways are you talking about? And it's simple. Can YOU become a millionaire as an hvac business owner. Not as a company. As the owner.

 

Your going to bleed, sweat, be stressed both physically and mentally and have to be around lots of undesirable people and places.
Do it long enough and you'll probably make $1 million. Now, I don't know if you'll have $1 million dollars at the same time, but you may have made that amount over time.
No, I'm aware of no millionaire techs. I do know some greaseball greedy dishonest business owners who have big fancy houses, which will probably be taken when there business runs out from being lying scumbags.
Get into this trade because you want to. Not because you see it as profitable and a way to make it rich.

 

Oh yes, I am definitely getting into because I want too. Not trying to be misunderstood as a guy that's looking for a way to get rich quick.

 

Oh yes, I am definitely getting into because I want too. Not trying to be misunderstood as a guy that's looking for a way to get rich quick.

 

And there has to be millionaire business owners out there. The owner of Bruno's heat and air out of Florida had revenue of 11 mill.

 

Revenue isn't profit. If I bill a customer for $3000 for an A/C install that bill has to make up the cost of the A/C, wall brackets, copper for the lineset, t-stat wire, gas to and from the location, wages for the help I'd need etc. There are lots of guys making a good living and sure there are some millionaires but the same is true of people in any trade. Naturally the best way to become a millionaire is to not live like you are a millionaire work hard, spend little, save a lot.

 

Having an excellent cash flow and P/L statement does not necessarily mean that your company performed shady work. There are highly successful business owners who simply know how to run profitable businesses. They may run businesses when they have no clue how to perform the front line work. What they do know is how to hire the right people to work for them.

No apology should be required or expected from a person just because they know how to be successful.

 

Defiantly very true.

 

Oh, here we go!

My spidey senses are detecting a franchise pitch coming up.

Edit: I read a comment wrong. I thought I saw "You CAN", but what was written was "can YOU".

 

I would bet anyone who is in the millionaire (assuming you mean rich) category would not step up and announce this is so. i know I wouldn't, however I would suggest you diversify into more than one business. I have many rental properties, and 2 Dairy Queen treat stores, and trade in stock options. Would I say I'm rich? No.

 

Right, but you don't have to worry about anything.. Correct me if I'm wrong.

 

It's not what you make, it's what you keep.

 

And more so, are you using that money properly to make more money?

 

:cheers:That's sweet, you guys started a thread about me!:cheers:

 

Well,you can go ahead and close this thread. The village idiot has arrived on the scene...

 

They asked for a millionaire , that keeps you out of the race by $999,500 And the BALZ to even get close don't help ! whistle:

 

A million dollars in my neck of the woods is easy

 

How so?

 

Pros are held to a higher standard.
per the site rules lets keep it professional

 

How many "real friends" does a millionaire have anyway? I heard it's lonely at the top.

 

Achieving the million mark has a lot of factors, it will take a lot of hard work, dedication and the correct fundamentals. I would not set the mark at a million starting a new business, because you may get burnt out before you get half way there. Running a business comes with a lot of stress, more so in the first several years, until it is established and thriving. Then its up to you to maintain and grow the business toward your goals. You should surround yourself with positive dedicated employees and treat them well (remember they are the face of your company). Run a honest business and provide a good quality service to your customer market. Make smart financial decisions and be conservative with the "business money". Also you really need some understanding of how a business operates financially, like how to read and understand financial statements, to see how your business is performing. You can turn a lot of money and profit very little. In the end its not how much money you generate but how much you actually retain.
Don't worry about what other business owners are buying or spending their money on. (In other words don't try to keep up with someone else life style), because you don't truly know their financial status. Having a huge house and high end vehicles don't necessary make you rich, it may mean their credit is maxed out and they are spending beyond their means. Having high end things means you have to have a lot of flow coming in to maintain those things. If there business collapsed, more than likely their property would vaporize like a drop of water on a hot highway. You don't want to set yourself up like that.

This is just my opinion, I am not a millionaire nor am I close, my financial statements show that I am profitable and as long as I am profitable then I consider myself moving forward and not backwards.

 

How many of you took a business class before you stated your business?

 

I wish I had... It's a great idea.

Most hvac businesses fail because you can be a great technician but a lousy businessman.

 

I have a BBA. It led to a soul destroying corporate job but even having totally changed career direction it has been handy.

 

Oh yeah?, how so?

 

Check out a book called Mark Up & Profit by Michael Stone. Book contains some very good business information, in my opinion. The author is more geared toward general construction, but you can apply the principles in your own business. The website has a lot of other resources and training materials as well.

http://www.markupandprofit.com/

 

Went to customer w have cond fan motor compressor and filter drier replaced and ho complained unit still notvworking so i went out and unit had clogged evap coil causing it to freeze. Im sure that guy is headed toward millionaire status. Oh home warratny paid for new parts.

 

BBA-Finance..... Sooty is right. It's very important to understand net working capital (and more) and how it affects you as a business owner. I'd even recommend taking a few business courses.

 

I am defiantly looking into taking a business course, once I get settled in my job though. Won't be looking at opening up a business for quite some time. I'm only 18, so I am trying to soak up as much advice and knowledge as I can before I start.

 

So are you an hvacr service technician? Or your looking to find a million dollar business to start? If i did not love this trade i think i would go crazy everyday at work. Yes its good money but its hard work. I don't think i can do this job just for the money.

 

Gee 18 you should be a millionaire by 25 just keep your call back percentage below 100 percent.
Real millionares have people who bring money to them on daily basis...

 

To answer the original question, there are plenty of owners out there who are millionaires. if you are knowledgeable and able to run a successful business, understand how to make profit, understand how to secure and maintain business as well as manage employees, you too can be one.....in time. It doesn't happen overnight, it takes a few years.
If you plan on starting a business, make your goal about running a better business, your way, profitably, while treating your employees well. The millions will come.

 

If I had money I wouldn't be talking to any of you!!!!! Besides a million won't buy you an empty lot close to the beach don't dream about being on the beach. Well maybe i would talk to you but I'd be talking down to you LOL