Chicago—The North American Association of Floor Covering Distributors (NAFCD) has released the 2018 NAFCD 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.
The report is organized into a number of sections, each designed to assist management in a specific area of inquiry. These sections include an executive summary, sales volume analysis, product focus analysis, imported product analysis, market size analysis, trend analysis and more.
The following are some of the questions this tool helps to answer:
- 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 a distributor expect out of their employees?
- Are operating expenses in line with industry benchmarks?
All distributor survey participants received:
- 2018 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 view of strengths and weaknesses compared to other distributors.
The report is made available at no cost to participating NAFCD distributors, and is available for purchase on the NAFCD online store. The 2019 NAFCD Financial Benchmarking Survey will open in April.
To learn more about this new business tool and all NAFCD products and services, visit: nafcd.org.