Latest Solomon Coyle Dealer Benchmarking Survey Will Be Released January 16

Survey links are scheduled for release on Monday, January 16, to selected contract furniture dealers based in North America who are being invited to participate in this year’s Solomon Coyle Operational Performance and Financial Benchmarking Survey. They will be asked to provide data based on the dealership’s fiscal year ending in 2016 (also termed YE2016). Survey responses in most cases will be due March 15. Survey participation is free of charge.

Starting about a week after the surveys are emailed, the Solomon Coyle team will conduct a series of webinars explaining the survey benefits and methodology and showing dealers how to complete the survey. Webinar dates and times will be included in the survey invitations.

The reports of survey results, to be published in early May, will enable the participating dealers to compare their performance to dealerships most like them in terms of installed margin, revenue, service mix and market size. The reports give dealers the ability to compare themselves to dealers within their dealer network and to all dealers that participate in the survey. Members of Solomon Coyle dealer peer groups will also be able to benchmark against other members of their peer group.

The benchmarking research is sponsored by Allsteel, Haworth, Herman Miller, Knoll and Steelcase. “We are excited and grateful to have the manufacturers’ support again this year,” said Solomon Coyle Managing Principal David Solomon. “Their involvement helps to assure wide participation and recognizes the value of this research in targeting and achieving higher levels of performance and profit within their dealer networks.”

Nearly 290 Allsteel, Haworth, Herman Miller, Knoll and Steelcase dealers contributed to the YE2015 survey. Solomon Coyle’s findings, reported in 2016, were based on 267 complete and valid surveys — a 16% increase in participation over the previous year.

The Solomon Coyle methodology is uniquely aimed at driving improvements in operational performance and profitability. Applying the Solomon Coyle key performance indicators – which are included in the survey report – the participating dealer can easily identify areas representing the best opportunities for improvement, establish realistic goals, and plan and budget accordingly.

Solomon Coyle offers a distinct combination of research, consulting, education and peer group management designed to help today’s dealers perform better, profit more, and operate sustainable businesses. Please address inquiries about the Solomon Coyle YE2016 dealer benchmarking survey to Jean Pierre, jpierre@solomoncoyle.com, 703-574-9106.