Chicago – As part of its work to deliver continuous value to members and the industry, the North American Association of Floor Covering Distributors (NAFCD) is conducting an updated 2012 financial performance benchmarking survey, and encourages all members to participate.
The survey, similar to the well-received survey 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 with a wealth of financial and operating guidelines.
Hoy Lanning, CEO of CMH Flooring, participated in the 2008 survey. He found the report offered critical information that led to important financial decisions for his company, and he is looking forward to participating in the upcoming survey.
“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,” said Lanning. “We have very few opportunities to compare our numbers to those of our peers. We found this report to be confidential, and I am confident that our information is protected. I am very happy to have this report back at NAFCD and applaud the Board for bringing it back. We need the total participation from our members to make this the valuable resource we all need!”
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 is impossible to know where you are going, unless you know where you are today,” said Bob Weiss, president and CEO of All Tile, Inc. “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. For independent companies like ours, this is an extremely valuable tool.”
The survey is managed by third party research firm Profit Planning Group. All responses remain completely confidential. Industry data within each report is not associated with any individual firm, but is compiled and shared in aggregate.
NAFCD members can login to www.nafcd.org to begin their survey, and are encouraged to submit their responses before the deadline of August 15, 2012. Members can contact NAFCD at info@nafcd.org for more information.