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Local Businesses

Local Businesses

5 November 2014

Benchmarking Your Business

Introduction

Know whether your business is performing better, worse or on par with others in it's industry. Benchmarking is one way to measure your business performance.  

A benchmark report will typically reveal average revenues and cost in terms of a percent of revenue.
From this you can determine typical profit levels, wages, cost of goods to income and overheads along with other important ratios.

Sources 

Don't rely on one source of data and consider the quality of the data.  If your business is supported by an industry association they will most likely have benchmarking and industry profile data for it's members.  Some banks supply a basic list of industry benchmarking reports along with a number of private organizations.


Sources include:

Industry Associations
Local Councils 
IBISworld (Private)
FRMC Benchmarking (Private)
ANZ Bank (Free)

Reviewing your industry  

The table below offers benchmarking and industry profile reports for your use.  Most are dated 2010 so some consideration around CPI needs to be included.  More current version can be purchased online at FRMC Benchmarking

Steps:-
  1. Identify your industry from table below
  2. Open each file and save to your computer if you wish.  (See download under File menu option)
  3. Review data - Contact your coach if assistance is required
  4. Review data with your business results
  5. Set action to improve areas (Business plan)

Benchmarks Reports

 Industry  ANZIC  Benchmark  Profile
 Accountant  6932  Open
 Architect  6921  Open
 Auto electrical services  9411  Open  Open
 Automotive mechanical repairs - general repairs  9419  Open  Open
 Bakeries and hot bread shops  4129  Open  Open
 Beauty salon operation  9511  Open  Open
 Books retailing  4244  Open  Open
 Building, non residential construction - commercial buildings, hotels, etc  3020  Open  Open
 Building, residential - flats, home units, apartments, etc  3019  Open  Open
 Bus, coach transport - long distance  4621  Open  Open
 Bus, coach transport - short distance  4622  Open  Open
 Butchers, butcher shops - retail  4121  Open  Open
 Cabinet making, joinery - on site fabrication of built in furniture or other joinery  3242  Open  Open
 Cafe operation  4511  Open  Open
 Car accessories dealing  3921  Open  Open
 Car dealer - new and/or used  3911  Open  Open
 Caravan parks and camping grounds  4400  Open  Open
 Child care service  8710  Open  Open
 Chiropractor service  8534  Open  Open
 Civil engineering - non building construction nec  3109  Open
 Civil engineering service  6923  Open  Open
 Cleaning service  7311  Open  Open
 Clinic - dental  8531  Open  Open
 Clinic - medical - general practice  8511  Open  Open
 Commercial printing  1611  Open  Open
 Computer retailing  4222  Open  Open
 Concreting services  3221  Open  Open
 Confectionery retailing  4129  Open  Open
 Delivery service - road  4610  Open  Open
 Desktop publishing service  7292  Open  Open
 Dry cleaning service, agency  9531  Open  Open
 Earthmoving plant hire - with operators  3292  Open  Open
 Electrical services  3232  Open  Open
 Engineering surveying service  6922  Open  Open
 Fabricated structural steel mfg - ready made parts for structures  2221  Open  Open
 Farm produce or supplies  3319  Open  Open
 Financial service nec  6419  Open  Open
 Fish and chips retailing - take away  4512  Open  Open
 Fitness centres  9111  Open  Open
 Floor coverings retailing   4212  Open  Open
 Florist operation - retail  4274  Open  Open
 Footwear retailing  4252  Open  Open
 Fruit retailing - fresh  4122  Open  Open
 Gardening service nec  7313  Open  Open
 General store operation - main grocery  4110  Open  Open
 Gift shops  4279  Open  Open
 Grocery supermarket operation  4110  Open  Open
 Guest house operation  4400  Open  Open
 Hairdressing service  9511  Open  Open
 Hardware retailing - domestic   4231  Open  Open
 Health foods retailing  4129  Open  Open
 Hotel operation - mainly drinking place  4520  Open  Open
 House painting  3244  Open  Open
 Household appliances retailing  4221  Open  Open
 Ice cream retailing  4512  Open  Open
 Insurance broking service  6420   Open  Open
 Jewellery retailing - except direct sellers  4253  Open  Open
 Landscape construction  3291  Open  Open
 Liquor stores  4123  Open  Open
 Menswear retailing  4251  Open  Open
 Motel operation  4400  Open  Open
 Motor vehicle smash repairing  9412  Open  Open
 Newsagent operation  4244  Open  Open
 Non residential building construction  3020  Open  Open
 Nurseries - retail  4232  Open  Open
 Ophthalmologist  8512  Open  Open
 Orthopaedic specialist  8512  Open  Open
 Pest control service nec  7312  Open  Open
 Pharmacy operation - retail  4271  Open  Open
 Photographic film processing  9532  Open  Open
 Physiotherapy service  8533  Open  Open
 Plasterers  3241  Open
 Plastic surgeon  8512  Open  Open
 Plumbing - except marine  3231  Open  Open
 Podiatry service  8539  Open  Open
 Psychiatrist  8512  Open  Open
 Pubs, tavern and bars  4520  Open  Open
 Real estate agency service  6720  Open  Open
 Residential building construction  3011  Open  Open
 Restaurant operation  4511  Open  Open
 Road freight transport service  4610  Open  Open
 Screen doors mfg - aluminum  2223   Open  Open
 Service station operation  4000  Open  Open
 Smash repairing  9412  Open  Open
 Specialised foods retailing nec  4129  Open  Open
 Specialist medical practitioner nec  8512  Open  Open
 Sporting equipment retailing- except clothing or footwear  4241  Open  Open
 Surgeon nec - medical  8512  Open  Open
 Take away foods - retailing  4512  Open  Open
 Taxi cab service  4623  Open  Open
 Taxi truck service  4610  Open  Open
 Tiling services - floor and wall  3243  Open  Open
 Travel agency service  7220  Open  Open
 Tyres or tubes for motor vehicle - retailing  3922  Open  Open
 Valuation service - except for real estate, wool or livestock  6999  Open
 Valuing service - real estate  6720  Open  Open
 Veterinary hospitals  6970  Open  Open
 Video tapes and games hiring to general public  6632  Open  Open
 Women's wear retailing  4251  Open  Open