Most firearms retailers are small businesses that have limited opportunity to compare their financials with similar companies. Now that is changing, thanks to a new report issued by the National Shooting Sports Foundation (NSSF) on financial benchmarking that gives firearms retailers the ability to compare their business performance with companies similar to their own, take advantage of trends in the market and plan for growth.
This report is also very helpful to those planning to open a retail establishment as it allows them to estimate what returns they can expect, which is useful when trying to obtain funding.
Information in the Financial Benchmarking Report can help retailers . . .
- Monitor and manage expenses
- Measure and improve productivity
- Protect the bottom line
- Evaluate employee effectiveness
- Compare their business to others in the industry
View the table of contents.
Every Firearms Retail should have this report! This report provides the Firearms Retailer truly usable and viable benchmarks for comparison to their own business performance. It will help them identify not only areas of excellence but more importantly opportunities for improvement and additional profit. If you are a Firearms Retailer who wants to make more money this report is the tool to get you aiming in the right direction!
- Tracy Moffatt, Adjunct Professor at Florida Gulf Coast University
Important benchmarking data includes comparative financial ratios on key performance measures, such as return on asset, asset turnover, cash cycle and inventory turnover; employee and space productivity measures; income and balance sheet breakouts; sales mix data; and advertising and marketing information, among other metrics.
Key data categories such as profitability, shooting sports revenue, retailer square footage, community size and geographic location, and seasonality will help retailers see how their business stacks up against similar companies. Also included in the report is 2011-2013 trend comparison.
The report was prepared by Industry Insights Inc., an independent research and consulting firm that specializes in customized financial and market research.
NSSF Member price - $250
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