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%
