OEC Data Bay: Tech & Tools
The data from the 2018 Ratchet+Wrench Industry Survey represents a cross-section of shops around the country and provides a glimpse into how the average shop performs, how its leadership manages the shop, and the tech and tools the shop uses.
A majority of shop owners say they have access to OEM repair information, at 86 percent, while the remaining 14 percent say they do not. This data runs true with the 2017 Ratchet+Wrench Industry Survey, with the exact same percentage breakdown, showcasing a steady pattern.
Shops that have access to OEM repair information outshine shops that do not in almost every KPI category. Forty-nine percent of shops that have access have an annual revenue of over $1 million; while only 30 percent of shops that say they do not have access make over $1 million. A similar trend continues throughout the data—59 percent of shops that have access to OEM repair information have an overall net profit margin of over 10 percent, whereas 42 percent of shops that do not have access have a net profit margin over 10 percent.
Ensure your shop commits to accessing the right OEM data. RepairLinkShop.com gives you parts illustrations directly from the OEM, so you can buy the correct parts you need the first time, every time.