Industry Benchmarks

All businesses are unique, and some even within the same industry can have certain factors that make them seemingly incomparable. There are though, particular ratios and percentages that can help you to judge in general terms how your business is performing in relation to your peers.

If you could compare gross margins, marketing and promotion costs and overheads as well as any other percentage or ratio you'd like to measure your business against - this would be an easy way to confirm where you're doing a great job. Or, alternatively, help give yourself a bit of a nudge to pull in the purse-strings where you may be over-spending - and under performing. Enabling you to FIX IT before it becomes a major problem!

What could you find out by comparing Industry Benchmarks?

• Restaurants & Cafes can check their Food Cost Percentage or Wage Percantage?
  
• Are you paying too much in bank charges compared to others in your Industry?
  
• Staff costs, vehicle operating costs, rent, insurances?
  
• Average wages and salaries of businesses of a similar size in your Industry?
  
• Ratios such as Gross Margin and Net Profit.

As you can see - there's a lot you can learn by comparing yourself to others in you Industry. The above list is a small sample of the ratios and measurements available.

Send a request for a Benchmarking session by clicking the
Ask a Question button on the left.

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