Vincent Romans Predicts 2020 Trends at MSO Symposium
LAS VEGAS, Nov. 4, 2019—On Monday, Vincent Romans, the founder and CEO of The Romans Group LLC, kicked off the first presentation in the annual MSO Symposium. The symposium was held the day before the official start of the 2019 SEMA Show.
Market characteristics have and are shifting in the digital age, which began in earnest in 2010. Collision repair shops are becoming business ecosystems. Romans shared a look at the 2018 market, in which out of 32,000 collision repair shops, about 99 MLOs, operated with a revenue equal to $20 million or greater.
As of 2018, the MLOs operating with a revenue equal to $20 million or greater, represented approximately 28.5 percent of the collision repair industry revenue.
According to Romans, the top four independent MLOs as of 2018, were Caliber, ABRA Corporate & Franchise, Service King, and the Boyd Group. When ABRA's franchise locations are taken out, the top four independent MLOs include Caliber, Service King, the Boyd Group and ABRA Corporate.
One overall trend that Romans noted is the shifting repair authority between the OEM and the insurer. He says that currently, OEMs are working toward and wanting proper and safe repairs. OEs especially want brand recognition and want to sell more OE parts. Right now, however, OE parts are down to a fairly low, 60 percent share.