Throughout this issue of Professional Tool & Equipment News you'll notice a greater focus on ROI, or return on investment for some of the more popular tools and equipment that you use every day.
In putting this issue together, our goal was to offer feedback on how investing in newer models of more expensive products can pay off when it comes to long-term shop profitability. Afterall, it's profitability per job, not the total number of services performed that separate a successful shop from those simply trying to survive. In gathering information pertaining to labor rates, overhead costs and service charges of shops from across the country, it became clear that it takes more than a high car count to grow and succeed. A working knowledge of how to attract and price these services is also vital to your success.
This is reinforced by the growing importance of maintenance dollars. A crucial part of which entails a proactive approach to capturing these service opportunities. A number of shop owners and technicians that we talked to repeatedly discussed how advertising and direct mail campaigns have helped attract new customers, as well as grow their business with current customers.
But none of this matters if the end result fails to produce greater profits for the shop. That's why we've assembled this data and worked with a number of the industry's leading manufacturers to show how these products will help you see a greater return on your tool and equipment purchases.
While we've tried to adjust for geographic differences, we're confident that these numbers offer solid averages that you can plug in and utilize when working to understand what kind of impact your tool and equipment purchases can have in enhancing the profitability of your shop.
If we've missed something that you have a return on investment question about, feel free to contact me at the phone number or e-mail listed below.
Thanks for reading.
Jeff Reinke, Editor
1233 Janesville Ave.
Fort Atkinson, WI 53538
Phone: (920) 568-8363
Fax: (920) 563-1699