HVAC vs. Security: If You Had $5M, Where Would You Invest?

If someone handed you $5 million… would you buy an HVAC business or a security/alarm business?In this episode of Owned and Operated, John Wilson is joined by Stephen and Collin from the Entry Exit Podcast to debate where they’d place the bet.HVAC has massive buyers, big platforms, and strong exit demand — but it’s also weather-driven, cyclical, and much less “truly recurring” than most operators think. Security (especially commercial security) can offer real monthly RMR, faster tech upgrade cycles, and sticky accounts — but it comes with licensing complexity, scope creep, and higher-stakes failure points.If you’re thinking about acquisitions, roll-ups, or just want a clearer lens on what $5M can actually buy in different trades, this episode is for you.In this episode, we cover:The $5M question: Why the “best” business depends on your goal (sleep-at-night vs. build-to-sell)Recurring vs. sticky revenue: Security RMR vs. HVAC memberships (and why they aren’t the same)Commercial vs. residential: Where security wins, where HVAC wins, and how each segment behavesRoll-ups and multiples: What’s getting bought right now and why commercial fire/security is heating upGeography matters: Why Texas (and other growth markets) changes the math💼 Extra Special Thanks to Service Scalers!We’ve been partnering with Service Scalers to maximize our Local Service Ads (LSAs) and optimize our Google My Business profiles, and the results have been incredible. With hundreds of thousands in sales and 900+ calls in a single week, GMBs are now our top-performing organic lead channel.Want to learn how Service Scalers can do the same for you? 🔗Check Them Out Here    💼Shoutout to Avoca AI!Looking to train your call center and improve technician performance? Avoca AI helps teams identify issues, improve call quality, and drive results from start to finish. 🔗 Schedule a demo📞 Sponsored by Quo — The Modern Business Phone for Service ProsMissed calls mean missed business. Quo (formerly OpenPhone) is the AI-powered phone system that logs calls, creates summaries, and automates follow-ups — keeping your team connected and customers happy.?🎁 Start your 7-day free trial and get 20% off your first six months 🎙️ HostsHost: John Wilson — https://x.com/WilsonCompaniesGuests: Stephen + Collin — https://www.entryandexit.co/Send Us Mail!More Ways To Connect with O&OJohn's Podcast YouTube ChannelOwned and Operated Newsletter Bonus Videos From JohnLeave a ReviewJohn Wilson, CEO of Wilson CompaniesJack Carr, CEO of Rapid HVAC📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.