Chances to Expand Your Revenue are Here
Demand for commercial maintenance vendors in HVAC/R, lighting, plumbing, signage, electrical, and more can ebb and flow depending on the industry being served and broader economic factors. But when shifts occur, it’s important to take note and pivot where possible to identify new sources of revenue — whether it’s service work on existing assets purchases and installation on new assets.
In today’s climate, various trends in the commercial service industry, the U.S. economy, and even adjacent industries have come to the forefront as opportunities for commercial service vendors to potentially increase their revenue. However, there is a key must-have that will make all the difference. But before we get into that, let’s explore these trends and why they’re opportunities for vendors looking to grow their businesses.
1. Transition to New Refrigerants
The push to reduce reliance on global warming potential (GWP) refrigerants is picking up, with an upcoming 40% reduction in hydrofluorocarbon (HFC) substance production. Facilities with equipment that uses high-GWP refrigerants such as R-404a will eventually need to transition to a lower-GWP option — ideally via retrofitting equipment as opposed to continually sourcing existing refrigerants. As time passes and facility managers transition their systems to more environmentally friendly options, they will rely on commercial maintenance vendors for assistance and expertise.
2. Energy Efficiency Incentives
The recent Inflation Reduction Act offered incentives for commercial building owners and managers to claim tax benefits — up to $5 per square foot — for improving energy efficiency. This presents a great opportunity for building owners and facility managers looking to upgrade aging systems, but expertise will be needed for implementation. Commercial maintenance vendors have an opportunity to assist their clients with taking advantage of this tax credit and making their facilities current with HVAC equipment.
3. Industrial and Retail Commercial Facility Growth
While the commercial real estate industry overall has been struggling for the past year, a couple specific asset classes have seen considerable growth and popularity. After struggling during the pandemic, retail facilities are making a comeback with store openings outpacing store closures. Additionally, the adjacent industrial asset class (warehouses, distribution centers, etc.) has seen explosive growth with companies needing more space for storage and production. Many companies are reshoring production as well in order to avoid the supply chain and logistics challenges of recent years. Commercial maintenance vendors have an opportunity to support the construction and revitalization of these facilities.
And Now for the Must-Have: An Aggregator Partner
As a commercial maintenance vendor, you could certainly support existing customers with these trends and needs as they arise or pursue them in your respective market. But getting access to new opportunities can be time-consuming and costly. Fortunately, partnering with a facility management aggregator serves as a faster alternative — and one with greater long-term reward.
An aggregator works with self-performing service companies such as yours to execute preventive maintenance and other programs for clients in multiple industries across the country. There are numerous advantages to working with an aggregator, which you can explore in-depth here. But at CLS Facility Services, we rise above the rest through a relentless commitment to each of our vendor partners. We don’t just look for partners to execute preventive maintenance — we look for long-term relationships where we can add value to the vendor’s business and they can add value to ours.
With that approach, we have successfully established partnerships nationwide with vendors in HVAC/R, lighting, signage, electrical, plumbing, and more — all with an average relationship tenure of more than 12 years! We’re always looking to welcome more vendors to our family, so if you’re interested in how you can grow your commercial maintenance business with an aggregator, explore our resource center here or start your journey by applying to become a vendor with us.