BOLT ON TECHNOLOGY, an automobile service-technology company, has earned its spot on The Philadelphia100 list of the fastest-growing privately held companies in the region for the fifth consecutive year. To qualify for the Philadelphia100, companies must be privately owned, established in the first quarter of 2015 or earlier, have at least $125,000 in revenue in 2015 and have increased revenue through the following two years.
Over the past three decades, this award, presented by the Entrepreneurs’ Forum of Greater Philadelphia, has become one of the most sought-after business achievements in the region because of its merit-based program. The 2018 award is given to companies with continuous growth over a three-year cycle from 2015 to 2017. BOLT ON’s Philadelphia100 award follows a three-year sales growth rate of 244 percent and a 30 percent increase in workforce.
“The BOLT ON team is extremely proud to, once again, to be among the region’s fastest-growing companies,” said CEO Mike Risich. “Since 2009, our mission has been to help shop owners stay ahead of the curve in the auto repair industry by providing tools that promote transparency of their services and improve all shop processes which, in turn, supports customer retention and drives profits.”
The company’s growth is demonstrated through an array of new products and industry partnerships as well as the expansion of its BOLT ON University education training, that will be traveling to six cities this year, including Denver, Orlando, New Orleans, Las Vegas and Philadelphia.
The company’s success over the past decade is driven by the development of award-winning shop management tools. BOLT ON’s shop management software increases operations efficiencies by streamlining scheduling and updating customer information, produces more accurate reporting, communicates customer-facing visual summaries of vehicle needs and allows shops to stay on top of business performance through review management systems.
“We expect BOLT ON’s growth to continue as we develop new products that address the changing needs of our customers as the industry evolves,” adds Risich.
The Philadelphia100 award comes just one month after BOLT ON earned a spot on the Inc. 5000 list of fastest-growing private companies in America.
