Things you need to do for a successful auto repair shop
The automotive industry is one of the largest in the world. It is currently valued at $ 5,000 billion and is expected to reach nearly $ 9 trillion by 2030. The demand for vehicles is growing every day as more and more people consider buying one for their family or add one to their collection. One of the industry’s most essential services and a growing sub-sector is the auto repair industry.
The overall market size of the automotive repair and maintenance industry is estimated at $ 516 billion and is expected to reach $ 810 billion by 2026, with a compound annual growth rate of 5.8%. If you are in this industry, consider yourself lucky because only a few industries in the world have this growth rate. However, being part of this industry is not enough if you want to be successful. Here are some ways to be successful in your auto repair shop.
The majority of your investments will go into your equipment. You will therefore need to invest in the best quality equipment for your stores.
You will need various tools such as air compressors, wrenches, and grinders. These are minor investments, and you may want to bring some tools that you already have at home, as they are reliable enough to use. However, one of the most significant investments you will have to make is purchasing a heavy duty mobile car lift. As a mechanic, you will spend a great deal of your time under a vehicle. The same goes for your employees. It is dangerous to go under a vehicle without the necessary equipment. Having a car lift can also make your store even more efficient. This is why a car lift is a significant investment that you will need to make along with other types of equipment in your store.
Make sure you are investing in the most reliable and durable equipment on the market. Because if you don’t, you’ll be spending most of your income to replace it. Do your research, find the best brands in the business, and get them even if you consider them expensive.
A competent human resources employee
If you own a local auto repair shop, which is not from a franchise, you are very familiar with the reality of running an auto repair shop. The reality of auto repair shops is that if you have one, you will likely be running it on your own or with a handful of people. However, while you can handle all repairs yourself, you will still need employees if you want your store to grow. But it can be quite difficult.
The Bureau of Labor Statistics has said it needs more than 46,000 auto technicians and mechanics to fill the auto repair industry through 2026. The problem is, no one wants this job. There has been a shortage of mechanics for some time now, because the more students get a bachelor’s degree, the less likely they are to get a blue collar job. Blue collar jobs are grueling and demand a lot of your physical body, which is why college graduates shy away from becoming a mechanic.
Plus, the median salary ($ 44,000) for mechanics is much lower than the average annual income of a working American (about $ 61,000). You have to be a top earner if you want to achieve this middle income bracket. So what is the solution for this? Quality rather than quantity.
You are indeed going to need employees to develop your auto repair business. But the truth is, you won’t need an army of them. Consider hiring a knowledgeable human resources employee to find talented mechanics throughout your state. Hire only a few, but pay them more than the median mechanics’ salary. Tell your HR employee to give them access to the training programs they need to develop their skills. This will ensure that they will stay with your business and grow as an individual.
Have an online presence
Everyone is on the Internet these days, and your best customers can be found there. That is why you need to establish an online presence for your auto repair shop. Owners of traditional auto repair shops would say this is not a need. So that your local and regular customers can pay the bills and more.
It may be true, but it will not grow your business. Having an online presence, however small, will help you market your business for free. Who would say no to free marketing? To create a social media account for your store, or maybe even a blog. All of this is enough to establish your internet presence and help your business grow.
Here are three easy ways to run your auto repair shop successfully. It may be difficult to do, but it is doable. In a few years, you will see your business grow in no time.