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Almost 90% of new HVAC/R companies fail within five years of startup. Few failed because the owner lacked technical skill related to his or her trade. Many of those companies were actually showing a profit on their financial statements when they filed for bankruptcy! In those cases, cash flow was not sufficient to pay creditors on time and operations could not be sustained. The cause of business failure in the vast majority of cases wasn't poor technical skill; it was weak business management skills. Many, if not most, of the new owners had years of technical training and little, if any, business training. The Handbook of Profit Management for HVAC/R Contractors is designed to help owners and managers of HVAC/R and other trade-related businesses begin their journey toward mastery of solid business skills needed to operate a successful company. The information contained within can help you learn how to use data on your financial statements for analyzing operating performance. HVAC/R and plumbing businesses differ from other retail enterprises because the product delivered to the consumer has a major labor component. You can use the information in this Handbook for more effective management of profits earned!