NAFCD releases 2017 Financial Benchmarking report

Home News NAFCD releases 2017 Financial Benchmarking report

Chicago—The North American Association of Floor Covering Distributors (NAFCD) has released its 2017 Financial Benchmarking report, a profitability analysis of NAFCD members designed to analyze and understand “best practices” of floor covering distributor companies. This financial benchmarking tool addresses critical business questions with unprecedented ease, speed and accuracy.

This past year, NAFCD’s board of directors made the enhancement of this program a top strategic initiative. A new partner was selected, Mackay Research Group, due to its history and success administering industry benchmarking reports. Other changes included a shorter and simpler survey, a Benchmarking Definitions document and a user-friendly final report featuring an interactive dashboard. The association experienced a 40% increase in member participation compared to the prior year.

Some of the questions this tool helps to answer include:

  • What is the “profitability gap” between high profit distributors and other distributors?
  • What is a competitive gross margin in the floor covering distribution industry?
  • What type of productivity should distributors expect out of their employees?
  • Are a distributor’s payroll expenses in line with industry benchmarks?

All distributor survey participants received:

  • 2017 NAFCD industry benchmarking dashboard—Based on actual distributor data, this customizable report provides industry averages across a variety of metrics and includes text that explains what the results mean.
  • How financial benchmarking works—This document tells distributors exactly what to do next with this data.
  • NAFCD individual company benchmarking dashboard—Distributors who submitted data received an individual report featuring their exact data to make benchmarking even easier, as well as a visual of strengths and weaknesses compared to other distributors.

The report is made available at no cost to participating NAFCD distributors. The 2018 NAFCD Financial Benchmarking survey will open in April.

For more information, visit nafcd.org.

Must Read

Building community during COVID-19

By Ken Ryan The way you behave during a crisis like COVID-19 is what your customers will remember—not what type of sale you ran or...

Obituary: Mohamed Farid Khamis, Oriental Weavers founder

Atlanta—Mohamed Farid Khamis, founder of Oriental Weavers, passed away at Emory Hospital, here, on Sept. 19, 2020, due to complications from a long-term illness. Khamis...

AHF Products launches Robbins rigid core flooring

Mountville, Pa.—AHF Products is launching Robbins Pro-Tekt, a new line of rigid core products. The new introduction addresses customer demand for a wood floor...

CTEF organizes online auction to raise funds

Pendleton, S.C.—CTEF, the Ceramic Tile Education Foundation, has organized an online auction to take place in October to raise funds in support of its...

Tom’s Tips launches part three of multi-part series

https://youtu.be/WAU5U3R-U-A Dalton—Throughout the pandemic, Tom Jennings, WFCA’s vice president of professional development, has shared valuable insights for retailers through short video lessons launched weekly. This week,...

MAPEI introduces new self-leveling underlayment  

Deerfield Beach, Fla.—MAPEI has introduced its smoothest, high-flow, self-leveling underlayment available, Novoplan HFL. Designed for use on interior concrete and engineer-approved concrete floors, Novoplan...
X