Address
City: Detroit
Neighborhood: Franklin Park
State: Michigan
Postal Code: 48228
Country: United States
Business facts
Estimated annual revenue~$1.6M
Estimated employees~8
Annual payroll (2021)~$339.0K
In business since1959
Based on reported payroll data
Contacts
President
Area statistics (48228)
Population54,670
Median household income$33,229
Source: US Census ACS
About
Tech Tool is located in Detroit, Michigan, and was founded in 1959. At this location, Tech Tool employs approximately 6 people. This business is working in the following industry: Tool Manufacturer. Annual sales for Tech Tool are around $500.0K – $1.0M.
Market analysis
Earning below its category median in a stable category (Tool Manufacturer).
EstimateCategory trend: 2024, +1.4%
Revenue trend (modeled)
~$1.5M2019
~$1.4M2020
~$1.6M2021
~$1.6M2022
~$1.6M2023
~$1.6M2024
Modeled from official industry statistics+1.2%/yr since 201980% confidence band: ±51%
Company profile
Incorporated1959 (MI)
Employees (reported band)8-15
Facility size~8,880 sq ft
Observed
Property
Lot size0.40 acres
Land use301
ZoningM2
CountyWayne
Parcel ownerB & D INDUSTRIAL INC
Assessed value$83.1K
Last sale$250.0K (1712102400000)
ObservedPublic assessor / cadastre record
Federal support (SBA)
PPP loan (2020)$70.6K · 8 jobs reported · implies ~$338.9K annual payroll · $71.2K forgiven
Second PPP loan (2021)$70.6K · 46 jobs reported · $71.0K forgiven
Receiving a second draw required certifying a ≥25% revenue drop in a 2020 quarter.
ObservedSource: US SBA public records
Category context
| Businesses | Total revenue | Mean | Median | Median rating | vs median | |
|---|---|---|---|---|---|---|
| Tool Manufacturer in Michigan | 300 | ~$1.9B | ~$11.8M | ~$4.8M | 4.7★ | 0.3× |
Tool Manufacturer in Michigan: revenue figures from the 157 of 300 businesses with estimates
Category revenue trend2024: +1.4%2023: -0.7%2022: +4.3%2021: +11.2%Modeled from business-level estimates
Chain pressure1 chains expanding in this category, led by ARCH Cutting Tools (+2 locations since 2016)
Revenue trajectory vs benchmarks (indexed, 2019 = 100)
Estimate
Immediate area (1 km)
| Businesses | Total revenue | Mean | Median | Jobs | Estimated wage bill | vs median | |
|---|---|---|---|---|---|---|---|
| 1 km area (all businesses) | 109 | ~$162.3M | ~$1.5M | ~$536.0K | 601 | ~$42.8M | 3.0× |
| Manufacturing | 10 | ~$7.6M | ~$757.3K | — | 50 | — | — |
1 km area (all businesses): median from the 92 of 109 businesses with estimates
Estimate
Area conditions (48228)
Population54,670 ±3,252
Median household income$33,229 ±$2,202
Median home value$48,700
Bachelor's degree or higher0.1%
Unemployment rate0.2%
Source: US Census ACS