Recession, what recession?

Your first glance at 2009 is extremely encouraging. Our most recent study showed a lot of interesting data for next year.

Revenue expectations for 2008 show 70 percent of you predicting revenue to be equal to or greater than 2007. Nearly 14 percent of you will experience growth that exceeds 5 percent, which is even more impressive. Only 6 percent of you say you expect to see a reduction in the number of techs you need in 2009.

Looking into the crystal ball for 2009, all signs are encouraging: 85 percent of you are saying that revenue will be equal to or up over 2008; 13 percent are expecting to show an increase of 5 percent or more. This is in line with actual results for 2008.

As for purchasing different categories of tools, by far you expressed the need for more diagnostic tools and equipment: 41 percent of you said you are going to buy ‘more’ with another 50 percent of you saying you will buy an equivalent amount in 2009. Wow!

Not far behind the leading categories for purchasing more (only more) are:

Category Purchasing more than 2008
Specialty tools 31 percent
Repair information services 28 percent
Hand tools 26 percent
Cordless power tools 23 percent
Shop lights 20 percent

Given the results of this survey, it appears we can look forward to a year similar to 2008. Older cars will remain on the road even longer. The public will hold off buying new cars, which means business will continue for repairs and preventative maintenance.

My personal thanks go to everyone that responds to our questions. We can’t do it without you sharing your insight into the future, as well as your comments on how you read our magazine.
So as we head into fall, Happy 2009!