Chicago—The North American Association of Floor Covering Distributors (NAFCD) is conducting an updated 2012 financial performance survey and is encouraging all members to participate.
The survey, similar to the one conducted in 2008, is being reintroduced based on requests from several NAFCD members. Responses will be aggregated into the NAFCD Performance Index and will be made available to participants free of charge. This includes the Industry Chart Book Report profiling the entire industry as well as a Profit Improvement Profile—a customized, confidential report comparing respondents’ performance with that of the industry. The documents answer strategic questions related to issues such as margin management, expense control and growth strategy.
Hoy Lanning, CEO of CMH Flooring, participated in the 2008 survey and found the report offered critical information that led to important financial decisions for CMH. “The Chart Book has helped us benchmark our business in the past and will continue to provide us with a resource to set goals for our business and support our annual budget.”
In addition to the report and profile, participants will receive a Profit Toolkit, a spreadsheet to assist with financial planning based on the report. “It’s impossible to know where you are going unless you know where you are today,” said Bob Weiss, president and CEO, All Tile. “The Profit Index Report allows our company to understand where we have room for improvement within our operations. It allows us to benchmark with companies in our industry in a confidential manner and help set our goals.”
NAFCD members can log on to nafcd.org to begin their survey and are encouraged to submit their responses before the Aug. 15 deadline.
For more information, members can contact NAFCD at info@nafcd.org.