The High Cost of Doing Nothing
Buildings constantly change. Building owners need to constantly adapt to changing building conditions. That also means making decisions. Historically, calculating the return on investment (ROI) of a decision – e.g., maintenance, repair, capital improvement – is what has driven many building owners’ decision-making. Does the ROI yield real value?
But ROI can’t be the only factor driving decision-making. What about the cost of doing nothing? That is the negative impact to their building by not changing. If it’s not broken, why spend the time and money to fix it? Complacency often ends up doing more harm than good. Check out the famous quote from the late, great Ben Feldman who was one of the greatest salesmen in the history of the world and has been written up in the Guinness Book of World Records for his accomplishments.
There are some building owners that invest $0 in their building. What can happen? Loss of tenants. Loss of time. Unplanned major expenditures. Loss of peace of mind. And much more.
Let’s use a building HVAC system as an example. 80% of buildings do not invest in HVAC preventive maintenance (PM). Sometimes this is due to not having a reliable HVAC contractor but often it is a lack of understanding of how much money is wasted by not doing PM.
In this example, the $ shown in the last column is specifically based on the costs and savings to run a 5 Ton HVAC unit in Buffalo, NY.
As you can see, the savings more than justify the cost of the services alone and don’t take into account the additional benefits:
Reduce Operating Costs
Stop Wasting 30% to 70% on Cooling
Improve Workplace Comfort
Avoid HVACR Downtime
Prevent Unexpected Expenses & Crisis Management
Reduce Complaints – which Improves Productivity & Customer Experience
Increase Equipment Longevity & Lifetime Value ~30%
Minimize Equipment Failures
Avoid Unnecessary GHG emission
Offset Increasing Electricity Rates
Save on Labor Rates
The cost of inaction for building owners is unaffordable. The charts below illustrate the impact of doing nothing vs focusing on PM for reliability.
COOLNOMIX provides a compelling solution for building owners who understand the cost of inaction and the importance of proactive decision-making. In the context of cooling systems, where preventive maintenance is often overlooked, COOLNOMIX offers a tangible solution as a retrofit compressor controller. Reduced operating expenses and GHG emissions, as well as increased equipment longevity are just a few of the many benefits of COOLNOMIX. By embracing COOLNOMIX and focusing on other proactive measures like preventive maintenance, building owners can not only mitigate risks but also unlock significant long-term value, ensuring the optimal performance and sustainability of their buildings while avoiding the costly consequences of complacency.