Hardware Retailing

OCT 2016

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://www.hardwareretailingarchive.com/i/730317

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Page 22 of 94

HARDWARE RETAILING | October 2016 18 NRHA News Financial Benchmarking Tool Now Available K nowing how you measure up to industry financial averages is crucial for evaluating your business. To help you with financial planning for business expansion, NRHA has once again compiled financial data from more than 1,000 independent home improvement stores to complete the 2016 Cost of Doing Business Study. Instructions on how to access the industry's only inclusive benchmarking study are available at TheRedT.com/2016-codb. The graph to the right illustrates profits for typical and high-profit stores based on data from this year's study. The full study shows the variation between income statements from stores performing at different levels, explaining why high-profit stores outperform the rest. To further illustrate the metrics presented in the study, NRHA has created retailer case studies, best practices and videos. Learn more about average transaction size at TheRedT.com/transaction-size, and visit TheRedT.com/ payroll for resources on understanding payroll. Net Operating Profit for High-Profit Stores vs. Typical Stores Source: 2016 Cost of Doing Business Study Lumberyards Home Centers Typical High-Profit Hardware Stores 0% 2% 4% 6% 8% 10% 3.8% 4.1% 3.7% 9.2% 7.5% 5.2% n New Low VOC 50 g/L formula. n Can be tinted. Carry one SKU and get endless colors. n Extreme water resistance, color retention, durability and chemical resistance. n New eye catching packaging design. E1 1-PART EPOXY FLOOR PAINT Visit us at www.ugl.com or call 1-800-845-5227 to see how we can partner with you to create a successful UGL dealer program.

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