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2017 Cost of Doing Business Study: What’s In It for You?

2017 Cost of Doing Business Study: What’s In It for You?

Would you like to know how your store compares to average and high-profit home improvement stores?

When you participate in the 2017 Cost of Doing Business Study, the North American Retail Hardware Association (NRHA) will give you free benchmarking tools to help you evaluate your business and make decisions for the future. Now in it’s 100th year, the Cost of Doing Business Study is an annual report comprised of data confidentially gathered from more than 1,000 stores across the country. This resource is the only inclusive benchmarking study specific to the home improvement industry.

Participate this year and receive a free robust Personalized Financial Analysis that includes:

  • WHAT-IF SCENARIOS. This section provides a summary of the information you submitted, and you can use it to create “what-if” scenarios. For example, if you think the cost of inventory may increase by 1 percent in the coming year, you can manipulate other areas, such as decreasing payroll, to see what changes need to be made to preserve net profit.
  • COMPOSITE FINANCIAL STATEMENTS. These pages provide financial statements for typical and high-profit stores, including your store’s financials for comparison.
  • STRATEGIC PROFIT MODEL. This section combines the principal elements of the income statement and balance sheet in a profit-planning equation so you can compare your results to both typical and high-profit stores.
  • YOUR RATIOS. This section includes your financial ratios along with a summary of the ratios used within the study.

Participation is free, easy and confidential. There are five ways to participate, and you can fill out the online submission form here. The deadline to participate is June 30, 2017.

About Hilary Welter

Hilary Welter

As the member services and communications coordinator, Hilary contributes to all member-focused communications efforts. She assists with communication aspects of member recruitment and retention and contributes to the marketing of member programs and benefits. Additionally, she is the voice behind NRHA and Hardware Retailing social media accounts. Hilary is currently working remotely while traveling abroad, tapping into the international hardware markets along the way. To follow her adventures, visit www.hardwareretailing.com/NRHA-Abroad starting August 1, 2016.