Gray, Gray & Gray Oilheat Survey released

Written on: July 24, 2013 by Mike SanGiovanni

The Certified Public Accountant firm of Gray, Gray & Gray, out of Westwood, MA, has released the results of the firm’s 2013 Oilheat Industry Survey. The survey was distributed to retail fuel oil and propane dealers throughout the Northeast and Mid-Atlantic regions of the U.S.
“This was a relatively stable winter across the heating industry, thanks in large part to an extended spell of cold weather,” said Joe Ciccarello, CPA, managing partner at Gray, Gray & Gray. “In addition to the weather, the stronger results were due to a combination of better pricing, with dealers able to maintain their margins, and increased efficiencies. Like every business, companies had to learn to do more with less and consider diversifying their product/service offerings.”
Some of the highlights of the 2013 Gray, Gray & Gray Oilheat Survey results include:

• Nearly one-third of survey respondents (31%) reported a gain in the number of customers this year, up strongly from 2012 results in which only 18% of dealers added customers.
• The pace of homes being converted from heating oil to pipeline gas slowed dramatically, with 41% of dealers reporting losing customers to gas conversion, compared to 74% losing customers to gas in 2012.
• More dealers are focusing on providing service in addition to product delivery, with respondents reporting that an average of 48% of customers were on paid service contracts during the year.

The full survey, courtesy of Gray, Gray & Gray, can be viewed and downloaded here.
Gray, Gray & Gray’s offices are located at 34 Southwest Park, Westwood, MA. The firm also has offices in Framingham and Boston, MA.