The North American Retail Hardware Association (NRHA)’s 2020 Cost of Doing Business Study is now available. The study has been conducted annually for more than 100 years and collects detailed financial information from hardware stores, home centers, lumberyards and paint stores.
The Cost of Doing Business Study is designed to help independent home improvement retailers understand how their businesses compare financially to typical and high-profit operations—and to help retailers make informed decisions for their operations. This year, more than 1,000 retailers participated in the study.
“This study is such a valuable tool for retailers of all sizes,” says Dave Gowan, vice president of finance and business services at NRHA. “You can compare your operation’s performance across dozens of metrics, from transaction size to sales per square foot and more. And you can compare how your operation performs compared to typical and high-profit operations. This kind of data can be critical to turning around a business or further accelerating growth.”
Visit nrha.org/codb to purchase a copy of the 2020 Cost of Doing Business Study today and find out how your operation compares to your peers.