In 2020, 20 percent of shops didn’t know their net profit, but that number dropped to 10 percent in the 2022 study.
“The diesel industry can be lucrative – but how much a shop earns can depend on many factors, like what services it offers, the number of techs on staff, and even where it’s located,” said Patrick McKittrick, CEO of Fullbay. “On top of that, it’s important for these shops to be able to have visibility across the shop with comprehensive reporting. The more small businesses are aware of their profits or losses, the better they’re going to do.”
According to the report, 25 percent of shops surveyed were grossing between $1 to $2 million each year, while 17 percent reported revenue between $250,001 and $500,000. Shops passing the $2 million mark were at least 16 years old.
Additionally, shops offering more services, such as mobile repairs, tire repair, and welding/fabrication, etc., reported more revenue than shops offering just one service. Those with one service show average gross revenues between $250K - $2M, 28 percent of shops offering seven services crossed into the $4M+ revenue threshold.
