Fullbay recently completed a study on heavy-duty repair shop profits and revenue, which the company shared in its State of Heavy-Duty Repair Report. The 2022 study of more than 1,600 individuals from the commercial freight, logistics and repair industries reported that 52% of repair shops reported a net profit of 11% to 30%. In 2020, 20% of shops didn’t know their net profit, but that number dropped to 10% in the 2022 study.

According to company findings, 25% of shops surveyed were grossing between $1 to $2 million each year, while 17% reported revenue between $250,000 and $500,000. According to the data, most shops that crossed the $2 million mark were at least 16 years old.

According to Fullbay, the data suggests that, generally speaking, more services – encompassing any repair or maintenance service like mobile repairs, tire repair, and welding/fabrication, among others – offer a route to more revenue. While shops offering only one service see average gross revenues between $250,000 to $2 million, 28% of shops offering seven services crossed into the $4 million-plus revenue threshold.

Shops also generally saw revenue increase as they added technicians. Growing from three to four technicians will yield a 40% increase in revenue, for example.