Understanding how your business compares to similar operations is a crucial step in mastering your finances and planning for future success.
Each year, the North American Retail Hardware Association (NRHA) surveys thousands of retailers to deliver that knowledge to independent operators across the U.S. The result is the annual Cost of Doing Business Study, a powerful financial tool that helps hardware, home center and lumberyard operators find ways to cut costs and operate more effectively.
“With record participation of over 1,100 stores, the Cost of Doing Business Study proves the independent hardware channel is alive and well and continues to thrive in these challenging times for retailers,” says Dave Gowan, vice president of finance and business services at NRHA. “The study helps independent operators see where they stand and how they can improve operations year over year.”
What’s New in 2019
This year, the industry’s only benchmarking study is stronger than ever. With a record-setting number of independent businesses participating, the latest data is timely and incisive, giving retailers a complete view of how typical and high-profit operations in their field are managing their finances.
For the first time in the study’s history, the 2019 Cost of Doing Business Study also includes financial data from paint and decorating retailers. Reviewing the results of this portion of the study can help you strategize and see how industry-adjacent businesses are succeeding.
The complete study is now available for purchase. Retailers who participated in the study will receive an electronic version along with a personalized financial analysis. Visit NRHA online to order your copy today.