Over the last several posts, I’ve detailed several niche applications for variable speed, constant pressure systems that had nothing to do with constant pressure.
This week, I want to step back and talk about the overall financial opportunity presented by constant pressure systems. I’m going to make a few assumptions here, but I think my point will remain the same.
Of course, there are a lot of factors that determine how long a submersible system will last before some type of service is required. Tanks need replaced, pressure switches fail, and the generally accepted longevity of a submersible pump/motor is 10 – 20 years. Let’s assume that on average, a submersible installation needs some type of service every 15 years. Now let’s figure that into the 15 million homes in the United States that are on private water systems. If there are 15 million systems that need service every 15 years, that means there are about 1 million service calls made each year in our industry.
One million service calls mean 1 million opportunities to offer and sell your customer improvements to his existing system. With Franklin Electric and a couple of other manufacturers offering variable speed, constant pressure systems that can be retrofitted without pulling the existing pump and motor, that means you have more to offer than ever before. For just about every service call, there’s a potential for a constant pressure system. Just need a new tank? Offer a smaller tank that comes with a constant pressure system and put the savings towards constant pressure. Pump or motor need replacement? If you have to pull and replace, then the benefit versus the incremental cost of adding a constant pressure controller may be very compelling to the homeowner. As one contractor told me awhile back, “Even if it’s just the pressure switch that needs replacing, I’m explaining and offering constant pressure.”
Of course, you’re not going to sell a constant pressure system each time you make a service call. But, let’s say it’s 1 in 10. That 1 in 10 could have significant impact on your business. Even if you don’t sell the homeowner a constant pressure system right then and there, you’ve at least planted a seed that may bear fruit down the road.
Quibble with my numbers if you want, but the logic still applies. Think it about for the geographical area where you do business. How many service calls are you doing each year, and how many of those deserve to have a premium water system? There’s something in it for everyone. For the homeowner, it offers the benefits of constant pressure at every tap regardless of usage, faster fill rates for appliances, more utility space by replacing the large tank with a small one, water delivery that matches demand, and built-in system protection. For you, it means the chance to not only increase your incremental revenue per service call, but also to build a following of satisfied customers. But, you can’t sell what you don’t offer; why limit yourself?