In early June, the U.S.-based fabricator members of the Marble Institute of America (MIA) will receive what it describes as a “benchmark” industry survey. The survey will help them strengthen their financial position by providing an analysis of how they stand compared to other firms their size.
“The economy has demonstrated an ability to sustain growth, and with the benefit of sales growth, stone fabricators should be producing higher profits,” said Gary Distelhorst, Executive Vice President of the organization. “Unfortunately, higher profits are not automatic. Profits must be earned. One way to help ensure that fabricators reach their full potential is a set of realistic financial benchmarks.”
The information gathered in the survey (sales, payroll and other operating expenses, gross margin, average collection period, etc.) is arranged to provide direct comparisons to other participating firms all based on size.
Profit Planning Group, a well-regarded association profitability and compensation analysis firm, will manage the survey for the MIA. Members’ proprietary financial data is kept strictly confidential. Only employees of the survey company will see the data. In over 20 years of conducting benchmarking surveys, Profit Planning Group has an unblemished record of maintaining confidentiality.
The survey results and final reports will be available at no cost to those firms that participate in the study. Non-participants will be charged a fee to receive a copy of the consolidated Performance Analysis Report.