Do you want to know how much money you can make doing paintless dent removal? If YES, here are 6 factors that determine the profit margin for paintless dent removal businesses. In order to have an idea of the amount a paintless dent business is expected to make monthly or yearly, you should clearly define the service offerings of the business.
A paintless dent shop is expected to offer services that involve the repair of hail damage, door dings, minor creases, large dents and bodylines damage. A host of body damages in automobiles can be repaired using Paintless dent repair (PDR) techniques as long as the paint surface is intact. PDR may be used on both aluminum and steel panels.
With that in mind, we can estimate what a paintless dent business is expected to make but it is important to point that there is no one-mold-fits-all when it comes to how much such business is expected to make. There are some factors that we are going to look into before giving an estimate of how much an average paintless dent business can make yearly and these factors are;
6 Factors That Determine How Much Money You Can Make Doing Paintless Dent Removal?
Table of Content
- 1. The Size of the Paintless Dent Business
- 2. The Location the Paintless Dent Business is Covering
- 3. The Management Style of the Paintless Dent Business
- 4. The Business Approach of the Paintless Dent Business
- 5. The Advertising and Marketing Strategies Adopted by the Paintless Dent Business
- 6. The Number of Years the Paintless Dent Shop is in Business
1. The Size of the Paintless Dent Business
One cannot conveniently state the amount a paintless dent business is expected to make yearly if you do not know the size of the business. As a matter of fact, you can not equate the amount a paintless dent business that is just starting out in business with a well – established paintless dent business that offers robust services and operates from a standard garage.
2. The Location the Paintless Dent Business is Covering
We must not rule out the fact that the location the paintless dent business is covering is a major factor that will determine the amount it is expected to earn monthly. The truth is that you will struggle to make good money as a paintless dent business if you locate the business in an area filled with low income earners or in a ghetto.
If you locate your paintless dent business close to a highbrow area or an area with loads of automobile repair garages and automobile owners, you are likely going to make good returns from the business.
3. The Management Style of the Paintless Dent Business
Another key factor that will determine the amount a paintless dent business is expected to make yearly is the management style of the business. Trust me, the results you will get when you are a good manager will definitely be different from a paintless dent business with a poor manager. The idea is that a good paintless dent business will not just retain their old customers, they will also keep getting new customers especially through recommendations.
4. The Business Approach of the Paintless Dent Business
There are different business approaches that a paintless dent business can choose from and no doubt it will greatly influence the amount they make monthly and yearly. Of course, we know that paintless dent business may decide that they want to work alone and do their marketing alone, but they can also decide to partner with other businesses that will recommend clients to them.
It is easier to find paintless dent businesses partnering with automobile dealerships and garages, and corporate organizations with pool of cars. In essence, a dent business that works with others will surely make more money than a solo business.
5. The Advertising and Marketing Strategies Adopted by the Paintless Dent Business
Another key factor that will determine the amount a paintless dent business can make yearly is the advertising and marketing strategies adopted by the business. Trust me, there are several advertising and marketing strategies that can help a business increase their earnings, but you may be expected to spend more.
But the results you will make will far outweigh the amount you spent on advertising and marketing. Of course, you don’t expect a paintless dent business that is engaging in aggressive advertising and marketing to make same amount yearly with one that is passive with its advertising.
6. The Number of Years the Paintless Dent Shop is in Business
In business, the number of years you are in existence will go a long way to determine the amount you will make especially if the business is well – managed and creativity always come to bear. For example, in your first fiscal year (FY1) you might make one hundred and twenty thousand dollars ($120,000), in your second fiscal year (FY2) you might make one hundred and fifty thousand dollars ($150,000) and in your third fiscal year (FY3) you might make two hundred and fifty thousand dollars ($250,000).
Averagely, a paintless dent removal technician charges between $50 to $120 for a 1-inch dent. Today, experienced Paintless Dent Removal (PDR) Techs are now making $250,000 a year or more. But generally, paintless dent removal businesses make between $70,000 and up to $200,000 a year if they operate in major cities.