Setting New Levels of Benchmarks

Setting New Levels of Benchmarks

by Danny Summers

The results are in from The Group's Annual P&L Study for 2020. And we all agree... the bar has certainly been raised!

I must admit when we first created the "Raising the Bar" theme for what was then to be our 2020 Fall Event, we had no idea how relative this theme would be in representing the year's total results.

With its beginnings in 2004, the 2020 P&L Study is The Group's 17th annual study and is the longest running and most comprehensive study of its kind in North America.

Any Center who has participated in past years knows this for a fact. What began as a simple compilation has continued to develop into a very complex and detailed benchmarking system. The average individual center's report is 18 pages – That's not just a few numbers!

Steve Bailey describes the earliest attempts to bring together a few Centers' P&L reports as a difficult task he compares to "herding cats." He, Robert Hendrickson, Sid Raisch and others brought together a simple Chart of Accounts they felt most Centers could report.

The results of continual improvement over the 17 years, dedication to both refining the processes and comparisons as well as commitment by Group Centers to participate has brought this Annual P&L Study to its recognized position. It is The Best of its kind!

The Real Story
But just being The Best Benchmarking Study isn't the real story. The real story is in the benefits gained by all of The Group Centers who have participated over the 17 years that has made a real difference in the way they have managed their operations.

I wish we had time in this article to get comments from many of the Centers' owners, both current and past, on how they have utilized this unique tool and how it helped them in their quest to building their business, but we don't. However, you can read the many comments on our What Our Clients Say page in The Group's WebSystem. As you read their comments, watch for their words about PROFIT and SHARING. You can quickly see what an impact this unique study has made.

Reporting Centers - Schedule Your Session!
For those Centers who participated in the 2020 P&L Study, each are encouraged to schedule a session with Steve and Tim to walk through your individual results as well as discuss The Group's benchmarks. This can be a very productive hour for you and your team.

A New Series Coming
This week, we share the beginning of a new series highlighting just some of the key benchmarks set by the 2020 P&L Study. The work of Steve Bailey and Tim Quebedeaux will be shared for everyone's review. If your Center did not report and if you were not part of the March 11th GROUPtalk LIVE Series presentation, this can be a good starting place for you to see how your 2020 numbers compare. I also encourage you to connect with Steve and Tim to be positioned to report in the 2021 Study! You can begin by seeing the first article below.

And why wouldn't you report... the Annual P&L Study is included in your Group Retainer! Yes, you have to put in some time to do the reporting but tracking your progress from year to year against the Group's benchmarks is your pathway to greater success. I encourage you to get on board today!

Congratulations to out P&L Study Participating Centers on a Rewarding 2020 Year!

Sharing is at the heart of The Group and your ideas are very important. Are you and your staff all subscribed to our eLists such as GroupEs, Retail-Grower, Retail-Landscape, Owners-Only, and a number of others? Need help subscribing? Let me know as I can show you how you can sign up.

Thanks for sharing!

Danny Summers
[email protected]
Tel: 678-909-7770
Cell: 678-761-7145

REMEMBER: Your interaction (by phone and email) with Group Service Providers such as Steve Bailey, Tim Quebedeaux, Sid Raisch, Robert Hendrickson, John Kennedy, Jean Seawright, and of course Danny Summers are included in your retainer!

Share this post:

Comments on "Setting New Levels of Benchmarks"

Comments 0-5 of 0

Please login to comment