Benchmarking Your Way to Profit Master Status
• If you have a board of directors/advisors, use this data when reporting company performance to that group. Also, if you do not belong to a peer group of non-competitive firms, you should join one. Such groups can be the most valuable resource in helping you improve profitability.
At Allegra Network, we have taken benchmarking to another level through our Profit Mastery Program. We have been conducting annual ratio studies since 1993 and have great data to use in growing profitability. We also run Performance Groups made of six companies of similar profile. These groups meet twice a year and update their benchmarking data and business plans before each meeting.
Performance Groups function like a board of directors on steroids. Additionally our Regional Directors, who facilitate those groups, conduct regular Profit Mastery Assessments that provide a road map for our franchise members’ business plans. The results have been dramatic in profitability growth for the centers that participate and take action on their Profit Mastery business plans.
Become a “profit master” by benchmarking your business and turning the information into an actionable business plan.
Carl and his wife, Judy, owned and operated their own successful Allegra franchise for nearly 20 years before selling the $2.3 million operation in 2003. He is a PrintImage International/NAQP Honorary Lifetime Member and was inducted into NAPL’s prestigious Soderstrom Society in 2010 in recognition of his contribution to the industry.