Numbers: What Shops Budget for Tools

Jan. 30, 2024
A look at the percentage of the budget shop owners use for tool purchases annually.

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 | Editor

Chris Jones is the editor of Ratchet+Wrench magazine and host of its companion podcast, Ratchet+Wrench Radio, a weekly show featuring automotive professionals across the auto care landscape.

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