The Best of the Best group from this year’s P&L Study really stood out. Who are they… you will find out, but first what defines Best of the Best? They are the top ten in profitability from those who filled out all 5 parts of the P&L Study. They performed to the tune of 18-25% Profitability… WOW!
For the P&L Study 2020, one word is being used to describe it… WOW! Even with our expectations of a great year, we were still amazed at what was reported.
Let’s start with how revenues increased year over year. The previous year revenues increased 2019 over 2018 at 2.2% compared to 25.1% increase for 2019 over 2020. Amazing! This graphic below illustrates how the 5 year trend of a typical Center with $1 million in sales has grown over the period and the dramatic affects of the 2020 year results.
We all remember historic events that occurred in our lifetimes. Whether it is 1945 when V-Day celebrated the end of WWII, 1963 when John F. Kennedy was assassinated, 1969 when man landed on the moon, or 09/11/2001 when the twin towers were bombed. I don’t think I will forget where I was and what I was doing during the pandemic of 2020. A key part of my memory will be the WDR. I was anxiously awaiting report after report every week to see what was happening. It was my weekly peak into what was going on across the country at Garden Centers, and the Mid-Year Report summed up what we all were seeing.
It has been almost a year since I started work with Steve Bailey. During that time, I have done onsite visits, attended Fall Event as a service provider, compiled the WDR weekly, and helped complete the P&L Study. I have gained a great appreciation for accountability in numbers and in the resolve of Garden Center owners to succeed. From those early Garden Center days to today, I recognize valuable information that I could have used 20 years ago, when I started managing Garden Centers.
A few years ago, when I was introduced to the Weekly Department Review as a Garden Center General. Manager, I was in awe. There was so much data that I could use to analyze and improve how we were operating the Centers that I managed.
