Though most shop owners in the 2023 Ratchet+Wrench Industry Survey said they didn’t designate a specific budget for equipment, results showed their sweet spot fell between 1% and 10%.
While this may not seem a hefty investment, nearly nine out of 10 shop owners said they foot the bill in providing tools for their technicians.
Percent of Budget Used for Tech, Tools and Equipment
- Less than 1%: 3%
- 1-5%: 26%
- 6-10%: 19%
- 11-15%: 10%
- 16-20%: 6%
- 21 or more: 3%
- No specific budget: 33%
About the Author
Chris Jones
Group Editorial Director
Chris Jones is group editorial director for the Vehicle Service & Repair Group at EndeavorB2B.
A multiple-award-winning editor and journalist, and a certified project manager, he provides editorial leadership for the auto care industry's most trusted automotive repair publications—Ratchet+Wrench, Modern Tire Dealer, National Oil & Lube News, FenderBender, ABRN, Professional Distributor, PTEN, Motor Age, and Aftermarket Business World.
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