Repair shop revenue hit by pandemic
Fifty-four per cent of heavy-duty repair shops suffered a decline in repair revenues in 2020, according to a new report from the Technology & Maintenance Council (TMC) and Fullbay. The U.S. report found average annual gross revenue per shop was between US£500,000 and £2 million, with 54% of respondents reporting a decrease in revenue due to the Covid-19 pandemic. “The obstacles faced by heavy-duty repair shops aren’t new, but it is obvious that the pandemic presented a whole new set of hurdles for our industry,” said TMC executive director Robert Braswell. “At TMC, we have been helping industry professionals for decades to improve its maintenance and maintenance management.
Our Recommended Practices offer the perfect companion to repair shops looking for guidance on dealing with these challenges.” Repair shops cited their main challenges as: hiring technicians; repair inefficiencies; and properly managing inventory. “This report gives repair shops great insight and benchmarks to compare against their own business,” said Jacob Findlay, CEO and co-founder of Fullbay. “Our unique blend of qualitative and quantitative data, along with a focus solely on the maintenance of heavy equipment and commercial vehicles, means it’s a true apples-to-apples comparison.”
The report is based on a combination of survey data from more than 340 Fullbay users and non-users, as well as shop management data from a sample of 250 repair shops that use the Fullbay platform for a full year.
“This report isn’t just something you read and throw away,” Findlay said. “There’s examples and guidance to apply in your day-to-day that will improve your business.”
The report is available through TMC.