Would you like to know how your business performs compared to the rest of your industry sector? Knowing whether your operating profit margin, comparable sales or average ticket is higher or lower than the industry average is an important part of planning for the successful growth of any business.
During lockdown it is even more important to understand performance metrics in the wider industry. Benchmarking gives you the tools to know where your business should be, it helps you
Gain an independent perspective about how well you perform compared to other companies in your segment and the industry as a whole
Drill down into performance gaps to identify areas for improvement
Develop a standardized set of processes and metrics
Enable a mindset and culture of continuous improvement
Set performance expectations
Monitor company performance and manage change – the most important aspect for you right now!
Finding out this information is challenging at the best of times, that is why I am launching a completely FREE service to hospitality operators, (including coffee shops) and coffee roasters. By filling in a benchmarking survey I can confidentially take an average of all the results and present them back to you in a useful report. The report will categorise operators by type, show the averages for each segment and overall. For the first time you will be able to see where you need to improve or where you are out-performing and have the reassurance you need.
The survey not only asks for pre-lockdown information to help benchmark your business before all this happened, it asks for estimates for post-lockdown so you can see if your plans match the rest of the industry.
All the information you provide is kept entirely confidential and stored as per GDPR guidelines. In other words, I only use the information to create the averages. No-one else will see the information you provide.
To get your FREE report, fill in the survey (or surveys if you are a roaster/operator) and I will send you the report once there is enough data to give you a useful resource.
The surveys will be open until each one reaches 100 responses (or until 11 May 2020), whichever is sooner) and the report should be released by the end of May.
Please be honest with your information, if you provide incorrect data it will only badly skew the average and you won’t benefit. Make sure you click submit at the end of the survey so the results are received, without that I won’t know you have done the survey!
To take part in the Operator survey click here: https://www.surveymonkey.co.uk/r/3B2Y6TF
To take part in the Coffee Roaster survey click here: https://www.surveymonkey.co.uk/r/RWXSGN9
This initiative is also supported by The Beverage Standard Association, who are offering free membership (up to the 31st March 2021 and then the current Membership fees would apply) to around 50 independent cafes. To keep this simple, the first 50 independent cafes to sign up through the Newsletter link here will be automatically enrolled as BSA Members.
Let’s help each other get out of this lockdown as safely as we can!