Yes, yet another new guy here
. Like some of us, I'm looking at WSR as a potential part-time gig. More specifically, a Tent location on Saturdays.
Since retail customers are what I'm targeting, I thought I might try to find a way to determine what I can reasonably expect setting at a tent location all day. Obviously, there are going to be variables that can't be accounted for, but from what I've read so far in the forum, it appears that 4 - 8 repairs per day is considered "good".The question is:
How much traffic do you really
need to get those 4-8 repairs per day?
Here's the industry statistics and math I've come up with. But, I'd like to hear from any of the WSR veterans to see if you agree or disagree with what the numbers say.
* According to Hedges Company research, there are currently 261.8 million (cars & light trucks) in operation here in the US as of 2016.
* Delta's website says "There are over 248 million vehicles on the road today which puts the estimated number of vehicles with repairable windshield damage between 24 and 30 million"
- this basically breaks down the number of "vehicles with repairable windshield damage", at any give time, to 9.7% - 12%
* There is a certain company that sell's "coaching" on the WSR biz, that says based on their research and other industry data, they estimate that only about "10% - 15% of the rock chips on the road are being repaired"
So here, we have the elements needed for a TAM, SAM, SOM market analysis (see attached pic for definitions).
I then broke these numbers down in an excel spreadsheet (2nd pic).
As you can see, I used the 261.8 million as the TAM
, and then calculated at 5%, 7%, 9% and 10% as the "number of vehicles with repairable windshield damage" at any given point as the SAM
. Then, I wanted to know how many of those were actually getting the repair done, so I broke that down again by 5%, 10%, and 15% (I refer to this as the "fix rate") - which gives us the SOM
Now all that was left to do is figure out the TAM:SOM as a ratio (ie...How many cars does it take to get 1 repair?)
When it's all said and done, it looks like worst case, you'll need 200 cars for every 1 repair (10% SAM/5% fix rate). Best case, it looks like 200 cars will give you 3 repairs (10% SAM/15% fix rate).
Again, I'm sure if you set up near an interstate or there are a lot of gravel roads in your area, you're numbers and other variables would make this irrelevant. I was just trying to establish a benchmark. Maybe my numbers are off....maybe all the vets out there already know this.
I'm curious if anyone agrees/disagrees?
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