Chicago—The North American Association of Floor Covering Distributors (NAFCD) has announced the opening of the 2019 NAFCD Financial Benchmarking Survey, conducted in partnership with Mackay Research Group. The report is designed to optimize distributor performance in an environment of relentless pressure on profit margins.
Distributor participants in the program receive a side-by side analysis of their performance metrics next to industry averages, allowing for easy identification of areas for improvement and a better understanding of "best practices" of distributor companies.
"We are pleased to provide a tool for distributors to assess their business' performance, identify areas of improvement and uncover opportunities for growth," said Kevin Gammonley, NAFCD executive director. "The Financial Benchmarking Report that comes from the survey results will address critical business questions with unprecedented ease, speed and accuracy."
Some of those questions include: What is the "profitability gap" between High Profit distributors from the rest of the pack? What is a competitive gross margin in the distribution channel? What type of productivity should a distributor owner expect out of employees? Are payroll expenses in line with industry benchmarks?
"With the Financial Benchmarking Report, participating distributors develop an understanding of their strengths and weaknesses, as well as those of their competitors," Gammonley added. "It not only serves as a performance metric, it magnifies small issues that could be improved upon or corrected before they snowball into big issues."
For more information, visit nafcd.org/2019Survey, or contact NAFCD headquarters at 312.321.6836.