The 2020 Cost of Doing Business Study is now available! For decades, independent home improvement retailers have trusted this annual benchmarking tool to understand where their operation falls in the U.S. marketplace and set goals for future success.
Featuring financial data from independent home centers, hardware stores, lumberyards and paint and decorating outlets, the study offers a wealth of data to help independent operators visualize their business’s operations and determine how they can streamline them.
“With this study, retailers can determine where they stand compared to typical and high-profit peers,” says Dave Gowan, vice president of finance and business services for the North American Retail Hardware Association. “This information gives you a head start to make quick adjustments.”
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.
Uncover the $100,000 Difference
Personalize the Study
Retailers across the U.S. rely on the Cost of Doing Business Study to help them understand their businesses better, establish new performance standards and illustrate their place in the industry to people outside it.
Analyze Your Performance
“It’s amazing to see the number of companies with multiple stores that have truly been successful and around for generations still participate in the study,” Gowan says. “They still want to benchmark their performance. They’re always questioning how they can get better.”
Set New Goals
By participating, you get a free copy of the Cost of Doing Business Study. Along with those results comes a What-If Scenario tool. You can adjust your operation’s performance to see how minor changes in certain metrics can yield results across your business.
Confirm Your Position
“Every time you borrow money, you’re educating the lender about your business,” Gowan says. “They don’t understand your business like you do. Having an in-depth tool like the Cost of Doing Business Study offers a representation of the industry to a bank or financial institution.”
Prepare for the Future
“The Cost of Doing Business Study helps you stay agile,” Gowan says. “The study lets you make strategic decisions to better position your business for the years ahead.”