The automotive repair industry is a surprisingly egalitarian one. Due to some of the characteristics of the industry, it has largely resisted the same sorts of extreme consolidation seen in businesses like banking and farming. It has been estimated that the top 50 companies in the automotive repair industry only account for around 10 percent of the profits, an extremely wide and equal distribution of profits for any modern American business.
And this unusual equality and the opportunity that comes with it is one of the reasons that owning an automotive shop or a chain of independent shops can be one of the best businesses to get into. The industry is largely non-seasonal. And it has traditionally grown every year since the beginning of the automotive industry itself. While cars last longer today than they ever have in the past, this can actually present even more opportunities for shop owners as people who are driving older cars need more out-of-warranty maintenance and repair work done on those vehicles. Additionally, the systems used by modern cars continue to increase in complexity, giving potentially huge market advantages to those shops that can master many different systems, including hybrids and electric vehicles.
Tekmetric can give you cutting-edge analytics in one of the most dynamic businesses
There are a few other things that make the automotive repair business a potential source of huge profits for those who are able to use all of the tools at their disposal. One of those things is the fact that, unlike almost all other walk-in retail businesses, automotive repair shops almost never operate on fixed prices. Instead, the revenue model for auto repair usually relies on estimates and individual customer quotes based on a large number of unique factors.
This is where digital vehicle inspection software can really make the difference. Tekmetric digital vehicle inspection software is able to help shop owners develop comprehensive labor and parts matrices that ensure that those shops can meet their overall profitability goals. Moreover, Tekmetric digital vehicle inspection software can help manage dynamic pricing, taking into account current wholesale costs, current market conditions, workflow prioritization and many other factors. With a powerful digital vehicle inspection software, not only can you help your team of technicians work more efficiently, but you can also ensure that you are maximizing your own profit on any given job even when that might mean turning down a job altogether in order to make more room for more profitable customers.
Digital vehicle inspection software compliments your technicians’ talents
In addition to some of the most powerful back-office capabilities of any shop management system on the market today, Tekmetric’s digital vehicle inspection features allow for shop technicians to more quickly and accurately diagnose problems with vehicles that come into the shop. The system is also able to help conduct and track routine maintenance, ensuring that customers do not overextend wearable parts and, simultaneously, ensuring that your shop stays on top of every possible business opportunity.
Tekmetric software also helps to organize workflow, allowing technicians to cooperate more effectively and eliminating unnecessary downtime and workflow errors that may not seem like much but that can add up to serious time and money over the course of an entire year.
But most importantly, in a business where time really is money, Tekmetric can help your shop to get jobs done sooner, with fewer errors and with more customer satisfaction. This improves your hourly net revenues, keeps more bays open for more customers and drives positive word-of-mouth reviews of your business. Tekmetric is your best move for staying competitive in the automotive shop repair business.