Newsline: MIA Announces 2011 Fabricator Survey

In late October, the MIA began conducting its fourth Fabricator Performance Analysis Survey. The Fabricator Performance Analysis Survey is a report that compares a given fabrication company with similar firms and provides suggestions for improving profitability. The report is customized to any specific company, and it is used by many firms when working with lenders to discuss loans and lines of credit.

Thanks to the generous sponsorship of Laser Products and Moraware, participating fabricators will only be asked to pay $25 to cover shipping/handling and a portion of the processing fee. This fee is paid when company financials are submitted.

“The value of the MIA Performance Analysis Report to me and my organization at its basic level is two-fold,” explained Paul Menninger of Capitol Granite, LCC, a former Stone World Fabricator of the Year. “One, it quantifies what it is we do at all levels in ways we never dreamed of, particularly when addressing financial institutions; and two, it historically tracks my key performance indicators and anonymously compares them to other fabricators of similar size. The value created for the investment cannot be compared anywhere else.”

“The MIA Report provides a scorecard that allowed our company to improve in areas where we may not be doing as well as the industry as a whole,” added Dick Laliberte of Ripano Stoneworks Ltd., another former Stone World Fabricator of the Year. “We have found that just looking at your own historical data does not uncover weaknesses that you may have in your company. By comparing yourself to your peers, you can spot the areas that need attention.”

Companies that choose to participate can expect to receive a 23-page report that is organized into the following sections, each designed to assist managers in specific areas of inquiry:

Executive Summary - Provides an overview of the study results, with emphasis on the difference between the typical firm and the high-profit company.

Detailed Results - In-depth reporting of return on investment, income statement, balance sheet, financial ratios and productivity ratios is provided in this section of the report. Management commentary is provided to focus on the importance of these operating statistics.

Appendix - Finally, the appendix provides an overview of the survey methodology and detailed information on the calculation of the financial ratios used in the report.

Fabricators that are curious about what exactly they will receive when participating in this program can review last year’s report for free. To obtain a free copy of the 23-page 2010 survey (which provides an overview of the study results, with emphasis on the difference between the typical firm and the high-profit company), contact Mike Loflin at mloflin@marble-institute.com or visit www.marble-institute.com/survey2011.