It’s time for the 2019 Cost of Doing Business Survey (CODB). Again this year, it is imperative that at least 100 equipment dealers submit financials for the CODB Report to be credible.
It is important that our dealers participate in this annual study/project:
- Participants can compare their financial performance to that of all dealers (regardless of lines or manufacturers represented);
- Dealers/Members need this information to assist in the valuation process of their businesses for estate planning, buy/sell agreements, sales, merger/consolidation purposes;
- The CODB Report will include benchmarks in the survey so dealership goals and budgets can be established for future years;
- A trade association should establish the tradition of generating this type of survey so that trends in business can be established and information can be gleaned that will help dealers improve financial performance in future years.
Equipment Dealer Consulting, P.C. Certified Public Accountants – Lonnie Finch, CPA; Tom Hancock, CPA; and Bridget Staker – will take the information you provide and compile the results into a Study that will be a useful tool in the management of your dealership(s) and that has results you can trust and take pride in.
The completed survey results will be priced as follows:
- Equipment Dealers who submit financials – No charge.
- Members who do not submit financial information – $300 per survey.
- Nonmembers who do not submit financial information – $550 per survey.
You have two options to submit your financial information – one is to complete this template by transferring the numbers from your financial statements to the template. The other option is to simply send a copy of your year-end financials.
Please reply with your most recent year-end financial statement (after prudent adjustments truly reflecting your year-end results have been made). Note: This statement may differ from your “13th month statement.” Finally, please answer all questions on the enclosed transmittal sheet and send the transmittal sheet along with your financials. The transmittal sheet is also included in the “template” for your convenience.
Please assist us in making the 2019 Study meaningful and useful to the entire industry.
Your information will be kept in strictest confidence and if you choose to not disclose your store/dealership name, which is certainly acceptable. (If you choose to submit anonymously, be sure to send us the tear-off from the enclosed form separately to get the results at no charge.)