• Industry Benchmarks Report

Performance metrics for fire & life safety contractors

The 2022 ServiceTrade Benchmark Report enables fire and life safety contractors to see how they stack up against industry peers.

This benchmark report consists of comparative performance data compiled from hundreds of ServiceTrade customers in the fire and life safety industry. Performance for the 25th, 50th, and 75th percentiles of mechanical contractors are included in each chart.

Charting the following five KPIs alongside industry peers can add powerful context to your business’s overall health status.

See how you compare in the areas of service efficiency, invoicing, repair revenue generation, and overall revenue growth.

On-Time Completion Rate

On-Time Completion Rate measures the percent of work orders that were completed in the time in which they were due.

Days to Invoice

Days to Invoice is calculated by averaging the number of days between the last appointment on a job and the transacted date of the first invoice for all jobs with a transacted invoice in the same time period.

Top Performers

<1 Day

Top performers invoice their customers less than 1 day after completing a work order.

Middle Performers

1.6 Days

Middle performers invoice their customers 1.6 days after completing a work order.

Bottom Performers

5.4 Days

Bottom performers invoice their customers 5.4 days after completing a work order.

Read: How ServiceTrade helps VSC Fire and Security drive efficiency

Pull-Through Work Rate

Pull-through work includes repairs, upgrades, replacements, and installations that come from existing relationships with the customer. Anything you’ve proactively suggested or planned with your customer outside of routine maintenance and construction work.

For top-performing fire and life safety contractors in this category, 19% of all work orders fell into the category of pull-through work.

Pull-Through Efficiency

We use the term pull-through efficiency to better understand how well contractors are identifying equipment issues during routine work, how often they are quoting these found issues, and at what rate repair quotes are approved.

The percentages represent the rate at which routine work resulted in a pull-through work order (repair, upgrade, replacement, etc.).

Pull-Through Work’s Impact on Growth

The top half of fire and life safety contractors in total pull-through performance grew year-over-year revenue 33% faster than their bottom half performing counterparts.

Looking to grow revenue from pull-through work?
Read: 5 steps to growing pull-through repair revenue

Year-Over-Year Revenue Growth

Year-Over-Year Revenue Growth is calculated by totaling all transacted invoice revenue from the period year and dividing by the total transacted invoice revenue from the previous year.

Additional Research: Business Growth Trends for Commercial Service Contractors

Download the Fire & Life Safety Contractors Benchmark Report