Data from the 2017 Cost of Doing Business Study shows that at a typical independent home improvement store, the average customer spends $22 per transaction. At a high-profit store, that number jumps to $30 per sale.
When was the last time you inspected the financial health of your business and how you compare to the average home improvement retailer?
NRHA has recently released the 100th annual Cost of Doing Business Study to help retailers evaluate their businesses and make informed decisions for their operations. For this annual benchmarking study, NRHA compiles data from approximately 1,000 American independent home improvement companies.
How to Access the Study
Paying NRHA members can access a PDF version of the study at no charge by logging into NRHA’s website and clicking Cost of Doing Business under the NRHA Studies tab.
Want a hard copy? Visit the NRHA online store through the members-only portion of the website to purchase it at a discounted rate. If you need your member login information, email member services or call 800-772-4424.
Did you participate in this year’s study? You will receive a FREE copy of the PDF study in the mail along with a personalized financial analysis. If you’d like information about participating next year, email Dave Gowan at firstname.lastname@example.org.
Additional Financial Resources
In addition to the study, NRHA and Hardware Retailing have created additional resources to help you evaluate your business and educate your staff in areas including increasing average transaction size, payroll and gross margin return on investment (GMROI).