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 Group Editorial Director for the Vehicle Repair Group at Endeavor Business Media. He’s a multiple-award-winning editor and journalist and a certified project manager now providing editorial leadership and brand strategy 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.