Issue link: https://www.e-digitaleditions.com/i/508347
8 FEDA News & Views Association Highlights FREE FEDA 2015 Profit Survey New performance dashboard feature introduced Ray Herrick Executive Vice President ray@feda.com Need more information on how FEDA can help you? Contact me by phone at 800-677-9605 or by email. F rom a sales perspective, life for most FEDA members seems to be back to normal. While the economy is not roaring, it is moving forward steadily. Some level of sales growth is now the new normal. However, for many firms, profits are not keeping up with the growth in sales. Price pressures, which seemingly should go away in good times, remain a drag on performance. At the same time, expenses—especially payroll costs— are beginning to outpace sales growth. The profit environment is still challeng- ing. At a time like this, benchmarking metrics are more important than ever before. The 2015 FEDA PROFIT Survey provides two key sets of numbers that you can't get anywhere else and will pro- vide you with a wealth of information on how your firm stacks up against firms of similar size and with similar operating characteristics. It also provides compari- sons to the most successful firms. The industry-overview report pro- vides detailed information on what influ- ences profitability performance in the industry. It emphasizes the key perfor- mance metrics such as sales size and gross margin. It identifies very clearly where firms should focus their attention. Performance comparisons reports evalu- ate your firm's results relative to firms of similar size and similar operating charac- teristics. It lays out a road map for profit improvement. Along with your Profit Improvement Profile, you will receive access to Profit Toolkit Online, a Microsoft® Excel spread- sheet designed to help you plan critical financial improvements for your firm. New This Year The Performance Dashboard is an Excel-based template that provides a visual comparison of how you rank on each of the key metrics in the survey. It also provides a way to see how changes in your business would impact overall profitability. It is a great new tool. Please remember that all of your information is confidential. All surveys are sent directly to the Profit Planning Group, which has conducted the survey for FEDA for more than 20 years. Survey results are free to participants, otherwise they are not available. Note: The 2015 Profit Survey will be mailed to the primary FEDA contact at each member firm in early June. 2016 FEDA Convention….. Save the Date Plan to be with us March 30 through April 3, 2016, for FEDA's 83rd Annual Convention at the gorgeous JW Marriott Starr Pass Resort & Spa in Tucson, Ariz. Convention Chair Jay Ringelheim, Globe Equipment Co., and Assistant Chair Paul Parr, Hockenbergs, look forward to see- ing you there. Well Done FEDA owes a great debt of gratitude for the outstanding work by Convention Chair Carl Gustafson, Ace Mart Restaurant Supply, and Assistant Chair Jay Ringelheim, Globe Equipment Co. It was a wonderful success due to their hard work. Pictured: Carl Gustafson, left, and FEDA President Brad Pierce.