Released quickerr_bip.368
Yes, you read that right. Let me lay it out for you.
If your shop does 150 jobs a year and you save 5 minutes per job, that is 750 minutes or 12.5 hours saved over the course of the year. Your labor rate at $25 hour (this is what you pay for labor cost) - $312.50 in labor savings. So, if one tool costs you less than $312.50 it will pay for itself in one-year, and you have multiple years of use or 'free money' from that one tool!
If your shop does 600 jobs a year, and you save 5 minutes per job it will net 3,000 minutes or 50 hours or $1,250 in labor savings. Now you can spend $1,250 per tool and it cost you nothing.
Let's take this a step further. With this explanation we are talking about your cost. What about the increase in revenue because now you can get more work done? So, the first example, saving 12.5 hours in labor now gives you the ability to bill out at your shop rate (whatever it is), for example at $100.00 an hour so now that tool that you purchased for $312.50 pays you back $1250 in the first year.
In the second example, saving 50 hours at $100.00 per hour means that the tool that you bought for $1,250 pays you back $5,000. I am no mathematician, but these are some great returns on investment!