HVAC
HVAC Close Rate Calculator
Measure what share of quoted work becomes sold work, and what a few points would be worth.
Result
A close rate is only comparable against your own history. It moves with how you count a quote, with the mix of work and with how quickly you follow up, so the trend matters more than the number.
Get a Free Business AuditWhat moves the number
- Follow-up, since most unsold quotes are never mentioned again.
- How the quote was presented, particularly whether options were offered.
- Speed, because the first credible quote has an advantage.
Where this one goes wrong
Measuring close rate without defining what counts as a quote. If verbal prices are excluded in one month and included the next, the trend means nothing.
Questions
About this calculator
What is a good close rate?
It depends on how you count and on the work type. Your own trend is the useful measure, and consistency of definition matters more than the number.
What raises it most?
Following up at all. A large share of quotes are sent once and never mentioned again, and customers frequently do not decline so much as forget.
Should I track why quotes are lost?
Yes. Losing on price, on timing and on scope are three different problems with three different fixes, and you cannot tell which you have without recording it.
The formula
close rate = jobs won / quotes given
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How to use this calculator
- Quotes given per month. Enter your own figure; the page starts at 64.
- Jobs won. Enter your own figure; the page starts at 26.
- Average job value ($). Enter your own figure; the page starts at $620.
- Improvement to test (%). Enter your own figure; the page starts at 5%.
The result updates as you type, so you can try a figure, see what it does to close rate, and change it back. Nothing you enter is sent anywhere or saved.
A worked example
These are the figures the calculator opens with. Every number in the results column below is produced by the same calculation the page runs, so you can follow it through before putting your own figures in.
What goes in
| Input | Value |
|---|---|
| Quotes given per month | 64 |
| Jobs won | 26 |
| Average job value | $620 |
| Improvement to test | 5% |
What comes out
| Result | Value |
|---|---|
| Close rate main result | 40.6% |
| Revenue from quotes won | $16,120 |
| Revenue at the higher rate | $18,104 |
| Extra revenue per month | $1,984 |
| Value sitting in lost quotes | $23,560 |
You close 40.6% of quotes. Lifting that by 5 points is worth $1,984 a month, and there is $23,560 a month sitting in quotes you did not win.
How sensitive the answer is
Holding everything else steady and changing only average job value, this is what happens to close rate. It is worth knowing which of your inputs the answer actually hinges on, and which barely move it.
| Average job value ($) | Close rate |
|---|---|
| $310 | 40.6% |
| $465 | 40.6% |
| $620 example above | 40.6% |
| $930 | 40.6% |
| $1,240 | 40.6% |
Every other input is held at the example value while this one changes, which is not how a real job behaves. Treat it as a guide to which number matters most, not as five separate quotes.
What each figure means
- Quotes given per month
- A number, between 0 and 5000, starting at 64.
- Jobs won
- A number, between 0 and 5000, starting at 26.
- Average job value ($)
- A money amount, starting at $620.
- Improvement to test (%)
- A percentage, between 0 and 60, starting at 5%.
What the results tell you
| Result | What it is |
|---|---|
| Close rate | The headline result. A percentage. |
| Revenue from quotes won | A money figure. |
| Revenue at the higher rate | A money figure. |
| Extra revenue per month | A money figure. |
| Value sitting in lost quotes | A money figure. |
Before you rely on this number
Sizing, capacity and load figures here are planning estimates. A real installation depends on the manufacturer's data for the specific equipment, the duct system it is going into, and a proper load calculation for the building. Use this to sanity-check a number or price a job, not to select equipment.
Estimating is the easy part
The jobs you never hear about cost more than the ones you mis-measure. BDEVY builds the marketing, systems and automation that bring them in.