We've had some intense days of back to back zooms and thank goodness that internet connections improve year on year with only a couple of tricky virtual tours. The first year we did these via Zoom my motion sickness was off the charts. We're scouting around Sydney tomorrow seeing a variety of different sized shops, with different business models - there are so many ways to skin a cat in this industry.
Diversification
It's been great to see so many shops embracing diversification. Whether its offering mechanical, windscreen or ADAS calibration services or wheel repairs more and more independents are branching out with the added benefit of having so many services on site that they don't need to sub let. This dramatically, according to everyone we talked to, cuts down key to key times and adds a welcome boost to the bottom line.
On the whole business owners are 'tails up' with plenty of work and while obviously the insurers could and in many cases should pay more, everyone appears to be turning a dollar.
New shop owners
It has been so good to meet new, entrepreneurial business owners. When I talk to the MSOs they point out how expensive it is to set up a collision repair business and how difficult business compliance is becoming - how much easier that is when you have a centralised HR/payroll etc - and they make a good point. But that hasn't seem to have daunted some 'new owners' we have met who have set out on their own. It isn't just MSOs that are stepping in to take over a shop when the previous owner wants to retire and some have worked at MSOs or managed other people's businesses giving them a taste for going solo and carving their own niche. It's definitely a good time in the industry to be starting out as there is plenty of work and those we've talked to have hit the ground running.
Specialist repairer
We've really enjoyed this new category which has included such diverse businesses from hail repair companies that have diversified in so many directions, to truck repair, restoration and even NDIS vehicle conversions. This is going to be an ultra tough category for the judging panel.
