READ THIS: The Cost of Waiting Close — Part 1: The Layout.

The way to close sales when the existing system is still running is with the "Cost of Waiting Close." You may have seen a similar version to this close called the "Return on Investment Close", but what you haven't seen my take on it.
 
This technique requires the use of a plain pad of paper, a writing utensil, and a calculator. (SEE BELOW TO DOWNLOAD CALCULATIONS)
 
In this 3-part series, I'll:
1.  Describe the basic layout of the chart
2.  The ongoing dialogue
3.  The three closes you'll use.
 
Preparation:
You'll need to have done an equipment inspection, made a list of what you believe the equipment will require to operate for a given period of time in a safe and healthy manner, and priced out those solutions.
 
Determined what the annual energy savings will be with the new equipment.
 
Become very educated on any utility company rebates, especially when it comes to expiration dates. All rebates have an expiration date. Even if your utility company has been handing out the same rebate for the last decade, there has always been expiration dates, and it's just been renewed a number of times. These expiration dates rarely stretch beyond year or two. Note: The utility rebates these days are usually lower than they've been in years past, and I find HVAC replacement salespeople downplaying them because of that. Don't ever decide for yourself that a customer won't welcome the rebate. Your customers will be grateful to get whatever rebate is offered.
 
Become very aware of the details on any manufacturer rebates, especially with regard to expiration dates.
 
A new concept:
This may be a new concept for you, and it sold a lot of jobs for me; especially to "payment buyers." I've often said to have the standard price for your jobs the amount of money you would require to install a furnace or an air conditioner on your busiest days of the year. The entire rest of the year, you can point to those prices, then show a discount, a company rebate, or ... get this ... a trade-in. The equipment would still have to be working because we would donate it to charity.
 
Here's another twist on this rebate  ̶ didn't take it off the price of the job. We sent them a check. We also arranged for their utility rebate and their manufacturer rebates to be delivered to them in the form of a check. In fact, we delivered them in person. That meant that the rebate checks could amount over well over $1,000. That would equate to several month's worth of payments. Adding the utility savings to the amount they would receive in rebates meant that they'd often have no out-of-pocket expenses for up to year, and be more comfortable and live in a healthier environment.
  
The basic layout:
Line 1: When prospects want to put off replacing their equipment now, get a commitment as to when they think they'll do it or how long they think they have before they're out of options and have to replace it, whether they want to or not. Two years is a very common response, which is why I used it for my example. Experiment using different time frames. This chart will never let you down. This chart will always show that it will cost them thousands of dollars to put off replacing their equipment now, even if they say they only want to wait one year. It works if they say they want to wait five years. It always works.
 
Line 2 - Columns A & B:The point of this close is to show the financial penalties of waiting versus the financial gains in taking action now. In a situation where the equipment is still operational, you might want to use the headings "Now" in Column B, and "Wait" or "Later" in Column A. In the case of non-working equipment, you can use the label "Repair" in Column A, and "Replace" in Column B.