How to Build the $3M Shop
You might call the $3 million, single store, general repair business a unicorn—at least that’s how Bill Adams and fellow shop owners in his network have come to think of it.
“It’s entirely its own beast,” he says.
Adams may have grown Adams Autoworx, his Castro Valley, Calif. operation to nearly $3.5 million in annual revenue, but he’s well aware of the challenge shop owners face in trying to break the $3 million ceiling.
The processes, procedures, tips, and tools that got a shop to its first $1 million, may not carry it through to its next breakthrough.
“There are so many owners who know it’s doable and been done, but they’ll hit the $1 million or $1.5 million mark and see that growth stall out,” he says. “They’re scratching their heads on what to do next and feel like they’ll just never get there.”
So, how exactly can a plateaued shop break through to the next pivotal milestone? Ratchet+Wrench pulled insight from the 2021 Ratchet+Wrench Industry Survey for the demographics that make up today’s $3 million dollar shop, and tapped the leaders of three growing operations for the strategies they found critical in clearing this major hurdle.
Thanks to AutoZone for sponsoring the 2021 Ratchet+Wrench Industry Survey!