NBDA Rolls Out P2 Launch, an Insightful New Program to Help Retailers Thrive
Through the program, business analytics powered by Retail Toolkit will be available to member shops at no charge in 2019
The National Bicycle Dealers Association (NBDA), the nonprofit organization that leads bicycle retailers to excellence through education, research, communication and advocacy, today announced a new program, P2 Launch , which is available to its membership fee-free in 2019.
Offered in conjunction with Retail Toolkit , a company that helps specialty retailers manage costs and increase profits, NBDA’s P2 Launch is designed to help retailers become more successful by reviewing their relevant key performance indicators. It is an entry-level version of the NBDA’s well-regarded Profitability Project (P2) , an intensive, yearlong, peer-to-peer mastermind group.
“P2 was instrumental in helping me understand my business,” said Kent Cranford, chairman of the NBDA board of directors. “It is one of the best investments I ever made.”
“The learning and sharing of my shop’s financial KPIs was like turning on headlights in a dark tunnel. I see P2 Launch as a way to make it easier to help brighten that tunnel for all our members. It will also help them understand the value of the P2 program and see how it can help them succeed in these crazy times.”
P2 Launch allows NBDA member retailers using most major point of sale systems to benchmark their bike shops against others by examining key performance indicators that contribute to labor burn, overbuying, scheduling, and vendor pricing.
Through easy-to-read dashboards, charts and reports, P2 Launch helps retailers identify areas of improvement for their business. For all of 2019, the NBDA will cover the cost of P2 Launch for its members. Starting in 2020, it will charge a small monthly fee to cover its administrative costs.
“Data tools are incredibly critical to smaller shops, but our members often tell us they don’t know where to begin,” said Brandee Lepak, NBDA president. “P2 Launch is a training platform that will help specialty bicycle retailers become data fluent, prepare for the more robust P2 program, and learn how to work o n their businesses, as opposed to in their businesses.”