Irvine, CA – Final month the Nationwide Bicycle Sellers Affiliation (NBDA) introduced their efforts to strengthen their assets for Canadian members. The newest of this consists of the formation of a Canadian-Particular P2 Profitability Venture group.
Launched in 2006, P2 is an NBDA initiative geared toward offering specialty bicycle retailers a collaborative useful resource to assist them enhance gross sales, profitability, and buyer expertise. Since its conception, over 90 retailers have participated. Presently, 45 US-based retailers are a part of 4 teams. The newly fashioned Canadian-specific group has 8 retailers. The non-competing retailers meet nearly each month and in-person twice annually to share, examine, community, study, and analyze particular information from their companies to assist one another in operations and technique.
Heather Mason, NBDA President and moderator of the P2 Program, commented, “Our Canadian retail members face distinctive challenges from our US retailers, and we needed a peer group that might actually perceive all of the aspects distinctive to the bicycle business. The present group of shops is actually dynamic, and we look ahead to the expansion of the group,” she stated.
A key characteristic of the P2 Program is its customized P2 Retail ToolKit Knowledge Dashboard. Gathering metrics from members, this dashboard compiles the info to establish key efficiency indicators (KPIs) that drive profitability and graphically illustrate for the retailers their labor gross sales as a share of complete gross sales, bicycle gross sales as a share of complete gross sales, gross margins on bicycles, common gross sales per transaction, gross sales development, stock turns, and development in common transaction worth amongst different metrics. This dashboard exhibits retailers how their shops stack up in opposition to prime retailers and the remainder of the business.
The NBDA sees this as solely the start. “We proceed to develop this system to greatest meet the wants of our retailer members. We have now room for retailers to affix in every of our P2 teams. With a max of 20 per group, we welcome extra members to this system because it makes for richer conversations and information,” added Rachelle Schouten, NBDA Growth Director.
The P2 Profitability Venture is the last word group expertise for the specialty bicycle retailer.
Extra details about P2 will be discovered on the NBDA’s web site.
Retailers inquisitive about becoming a member of a P2 group ought to contact Heather Mason at [email protected].
The Nationwide Bicycle Sellers Affiliation (NBDA) is the bicycle business retailer affiliation fashioned in 1946, representing and empowering specialty bicycle sellers in North America by means of schooling, communications, analysis, advocacy, member low cost packages, and promotional alternatives. A few of its packages embody Profitability Venture (P2), a mastermind group for bicycle store house owners and the Bicycle Retailer Excellence Awards credentialing program.
NBDA member advantages embody bank card processing and POS reductions, packages, entry to an internet sellers’ discussion board, instructional webinars, and digital member peer to see studying occasions. The NBDA moreover affords member financial savings with affiliation members on software program, communication and web site service suppliers. Annual dues are $250 for retailers; $195 for cell bike retailers; $129 for People; $999 for corporations related to the bicycle business with over $500,000 per yr in gross sales; and $699 for smaller corporations and business gross sales representatives.