Business is looking good.
Information within this year’s 2018 PTEN Purchasing Study revealed that most of you (91 percent) anticipate your shop’s revenue to be the same or higher than last year. That’s excellent news! Now let’s dive a little deeper. How will revenue rise? What type of repairs will contribute to the ongoing success of your business?
The clues are in the numbers, found in this year’s fourth annual Aftermarket Profile. Here’s a brief look at the findings:
I was not surprised to read that 89 percent of the 485 shop owners and technicians we surveyed in the purchasing study said their business offer electrical and diagnostic repairs – by far the largest repair type of all categories (followed by brake and under hood service). Not only that, but these shops expect to perform more diagnostic services, maintenance services, and electrical work than any other work in the coming year. There’s a big chunk of your anticipated revenue.
The knowledge of electrical systems in vehicles, and the complex tools used to service them, is quickly becoming required knowledge for all technicians, even in the sleepiest of shops. Perhaps it’s no surprise that this is the same area where 70 percent shop owners and technicians feel more training is needed. As long as vehicle manufacturers continue to add more sensors and systems to vehicles, technicians will need to have knowledge of each system and ensure each system is properly restored post-repair.
Another facet of electrical work is learning how to use electrical equipment (such as electrical testing tools, multimeters, and those frequently updated scan tools) to aid in vehicle diagnosis.
How are these skills learned – or improved?
In a previous editor’s column I talked about how these days, as a shop owner or technician, you need to be open to learning all the time. That’s just the nature of this industry as both vehicles and tools continue to pack in new features. It makes sense that this year’s aftermarket profile results show that many of you (64 percent) reference manufacturer or organization websites to stay on top of training information. You also find trade magazines, instructional videos, and manuals helpful when it comes to keeping up with the times.
While the numbers in this year’s profile show business is on the rise, it’s by no means easy money. Rather, it’s a matter of investing in the right technicians, tools, and knowledge to meet customer demand.
Turn to page 30 to take a look at shop expectations and purchase plans for all repair types and product categories.
