Member companies who participated in the Association’s 2020 Business Profile & Financial Performance Survey can expect their reports this week.
The Association received its 30-page, data-rich document Friday. Companies will get the same report plus a specific report card that shows how you compare to other companies with comparable sales volumes.
Among findings: Profit leaders who took the survey—companies whose return on assets was in the top 50 percent—gained their edge by better controlling operating expenses. Cost control more significantly influenced the bottom line than gross profits.
Participants will see a breakdown of those findings as well as comparison data on turnover rate, for example, cost of direct labor as a percent of net sales, net sales growth last year, changes in health care costs, your preferred sales channels (OEM, direct to dealer, wholesaler, etc.), and salaries in key positions.
This is the third year the Association has offered this service to regular