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Cost of Doing Business

Benchmark Your Business With the NHPA Cost of Doing Business Study

How do your numbers stack up against industry averages? The North American Hardware and Paint
Association (NHPA) is now inviting hardware stores, home centers, lumberyards and paint and decorating outlet retailers to participate in the 2023 Cost of Doing Business Study. Submissions are open from now until June 30 to share your operation’s financial data.

Every year, NHPA’s Cost of Doing Business Study offers data and insights to home improvement retailers on how to increase their profits and strategize for the future. For more than 100 years, NHPA has collected information from independent retailers for this study. Individual financial data is held in strict confidentiality and financial and operational data will only be published in aggregate.

Cost of Doing Business Study participants will receive a free copy of the study ($499 value), a personalized financial analysis with their operation’s financial results compared to industry averages, a what-if scenario generator to calculate how small changes can make a big impact and other financial metrics.

“Participating in the Cost of Doing Business Study gives retailers access to a wide range of data, from typical operations to high-performing operations, to give them a benchmark for their performance,” says David Gowan, NHPA chief financial officer and executive vice president of business services. “This way, retailers can make well informed decisions to better position their operations for years to come.”

To participate today or learn more about the study, visit YourNHPA.org/codb.

How to Participate

Choose from four easy ways to share your information and participate in the 2023 Cost of Doing Business Study.

• Online – Complete the online Cost of Doing Business Study form and/or submit your 2022 year-end financial documents at YourNHPA.org/codb.• Email – Send your company information and 2022 year-end financial statements to NHPA CFO David Gowan at dgowan@YourNHPA.org.
• Mail the Survey – Print and complete the survey using your 2022 year-end financial data and mail it to NHPA.
• Mail Statements – Fill out the company information section of the survey, attach a copy of your 2022 year-end financial statements and mail them to NHPA.
NHPA’s Mailing Address
Attn: NHPA CODB Coordinator
1025 E. 54th St.
Indianapolis, IN 46220

About Lindsey Thompson

Lindsey joined the NHPA staff in 2021 as an associate editor for Hardware Retailing magazine. A native of Ohio, Lindsey earned a B.S. in journalism and minors in business and sociology from Ohio University. She loves spending time with her husband, two kids, two cats and one dog, as well as doing DIY projects around the house, going to concerts, boating and cheering on the Cleveland Indians.

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