Revenue up 300% for mobile repair shop Wrench
Wrench, the US-based mobile vehicle repair and maintenance startup, is having a good pandemic. Its contactless service is exactly what customers – especially fleet customers – want. The four-year-old company has seen a 300% increase in revenue, year-on-year. Demand is driven in large part by delivery vehicles, which have been doing overtime during the pandemic. An added plus is that Wrench's services are entirely contactless.
Wrench's mobile mechanics come to the customer's location to do maintenance and/or repair, removing the need for a physical stop at a specific location. Over 40% of Wrench's jobs are booked via a fully automated process. Over 85% of its repairs and services are completed on the first stop.
Capitalising on its success, Wrench has just concluded a deal with Tirescanner, an online tire retailer and mobile tire installer, writes GeekWire. The deal will further enhance Wrench's appeal to corporate fleets.
The company raised $20 million in funding in November – well before the outbreak of the pandemic. It claims that the trend to repair and maintenance 'on the go' was rising even before the outbreak of the coronavirus, and that it will continue long after as well. Merely by accident, the virus provided a welcome boost.