One of the best ways to keep any business operating successfully is by continually measuring and comparing its performance against industry averages. To do this business owners are frequently turning to benchmarking, in an attempt to beat competitors at their own game.
Our benchmarking service allows us to proactively produce a tailored report for your business, showing the key numbers and comparing those numbers to other businesses in the same sector. The focus is on profits and cash flow, which are crucial numbers for every business owner.
Determining whether you should invest in our benchmarking service really depends on how well you know your business. Ask yourself the following to determine whether you are on top of your business, its associated industry and of course, your competitors:
What are the most important measures and ratios for my industry?
What is my gross profit margin and net profit margin and how does this compare to the industry?
How much are my competitors charging for comparable products or services?
What is my competitor’s gross profit margin and net profit margin?
Am I spending too much on advertising (or not enough) compared to my competitors?
What is this as a percentage of sales and how does it compare to my competitors?
How much are my competitors paying their staff (both permanent and contract) and what is this as a percentage of sales and profits?
Am I paying too much in rent for warehousing, office or retail space and what is this as a percentage of sales and profits?
How fast is my delivery and is it fast enough?
How much does delivery cost per sale and how does this compare to others?
If you would like further information regarding this service, please don’t hesitate to contact us.
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