Bottom line up front: I’ve partnered with Raymond James Capital Markets to create a unique survey, the first of its kind, that leverages the unique research capabilities of Raymond James Capital Markets equity analysts and Supplement Advisory’s unique insight into the North American collision repair industry. You can participate and access the results at https:/supp-co.com/survey
When I was in Europe a few weeks back as one of the keynotes at the IBIS Conference, there was a lot of talk about the uncertainty of the industry. When one considers the amount of capital being invested into vehicle technology, it is wise to be concerned about the impact that technology can have on an industry that is completely dependent upon human error.
When I presented on North American collision industry trends at IBIS, I took a somewhat contrarian position. Based on the data I’ve gathered, the data suggests the next 5 years will likely be a great time to be in the collision industry. Miles driven is projected to increase as is frequency, or the rate of accidents per mile driven, severity, and the number of vehicles on the road. These are all great trends if you’re in the business of fixing cars.
At times I feel I am one of the few people in the world proclaiming now is a great time to be fixing cars. But I am confident in my statement because the data I have supports my position. And the data is based on present day data, not projections on what may happen 10, 15 or 20 years from now.
One of the attendee at IBIS came up to me at the gala dinner and said “you know, there were a lot of great presentations today, but something about your presentation just seemed more credible to me. I just trust your numbers more than the others.”
I’ve always enjoyed data. I feel that data tells a story. Without data, we only have opinions. Opinions are great, but only when they are correct and supported by data.
One of the things I’m most proud of is my ability to bridge the gap between operations and finance, between Main Street and Wall Street (or Bay Street for my friends in the North). I’ve partnered with Raymond James Capital Markets to create a unique set of data, the first of its kind in the industry. We want to hear from you. We want to know what is going on in your business. How is ADAS affecting your business? Is increased frequency is leading to more total losses? How you are coping with the technician shortage?
If you fill out the survey we will share our findings and analysis with you. You will have an exclusive first look at our reports and analysis. As soon as we have the data, you get the data. We hope that you will then put the data to work in your business.
You want to know what is really going on in the industry, not just what the hype is. Please join us and fill out the survey at https://mewescfo.wpengine.com/survey.