Hearthlist Digest #203 - Saturday, September 12, 1998
 
Dealer Operating Study
  by "Timothy James Nissen" <[email protected]>
 

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Subject: Dealer Operating Study
From: Timothy James Nissen <[email protected]>
Date: Fri, 11 Sep 1998 20:59:02 -0500
 
 
 
Following on Sue Kalish's comments:
 
One of the significant competitive advantages that my business had when we
opened was the coursework I had taken in financial and managerial
accounting.  I didn't know anything about woodstoves, but I knew my way
around a set of financial statements.
 
Even though I knew the basics, the Pat McGraw taught seminars at the last
two HPA Expos have added considerably to my financial management knowledge.
I have indeed changed my mindset away from the notion of moving product and
more toward the notion of managing our assets:  cash, receivables,
inventory, equipment, to boost our bottom line.  However, it has been
frustrating that we lack hearth industry data and case studies.  Our
business is different than others in its seasonality, combination of goods
and service, and buyer/seller characteristics.
 
The HPA Operating Ratio Study is designed to benefit the participants in a
very direct way, and to provide the data and case studies for future
education programs.  Dealers get most of the benefit in return for their
participation.  Participants also get discounted rates on an individual
company analysis and training at the Phoenix Expo.
 
If you are happy with your bottom line and return on assets and investment
then you may as well devote the hour or so it takes to fill out the survey
to something else.  Otherwise, it would be real stupid to let this
opportunity pass.
 
Call or e-mail me with any questions or concerns.
 
Tim Nissen
Home Fire Stove
503-364-6339