To Grow, You Need to Know Your Score
How Does YOUR Landscape Business Stack Up?
Watch the Video to see why it's important to benchmark your profits against peers and how the
7th Annual Landscape Industry Peer Benchmark Report will help you Know Your Score.
Interested in participating in the report?
Participants are invited to an exclusive 1-hour webinar discussing the report findings and how to get the most out of the report!
To Grow, You Need to Know Your Score
In business, the income statement is like a scorecard — a report that tells you and your team how the company did that month.
We get so excited about seeing the score; it is like opening a gift at Christmas when we were kids.
First, we wonder what’s there.
Will it be something we expect or a surprise?
Will we like it?
An Important Question
You and your team have worked hard, and you hope it will be good news.
Sometimes it is, and sometimes it’s not. Even for the business owners who regularly see good results, there is often a seed of doubt.
A curiosity. A question.
Is my business really performing at its best?
Or do we have some room for improvement?
How good could my business' profitability really be?
If you are like us, you wonder how your results compare with others in the landscape industry.
Proof Gives You Power
You may think your company is performing great, but you need proof.
Maybe you suspect that the company’s performance is weak, but you don’t know why.
Or you may hear numbers from industry experts, and wonder how realistic those numbers are in your situation.
As a business owner, you live and work in a highly competitive world.
You need to know the answers to these questions to survive and to thrive.
When you show proof to your team, it starts a conversation.
Imagine being able to point to hard data and say, “here’s where we can improve, and by how much.”
Data has the power to make your conversations straightforward.
"This Benchmark Report is unique. You see each company's data—revenue mix as well as expenses and net income as a percentage of revenue—and it's anonymous. I use it each year to see how my company is performing. I love it!"
-Nick DiBenedetto, ND Landscape Inc.
Learn from Past Years' Reports
In past years, up to 15% of the companies participating have reported net income that was more than 10% of revenue.
A handful of companies usually report that they lost money...
And the average net profit margins are typically less than 5%, which is not nearly enough.
Wouldn’t you like to see what the most profitable companies spent on labor, equipment, and overhead? Wouldn't it be nice to know how much enhancements were as a percentage of maintenance revenue — often a key factor in profitability?
These numbers can drive conversations with key members of your sales and management teams. As business owners, we want our people to perform “better” year over year.
Numbers give everyone clarity on what “better” really means.
Other Benchmark Reports
Numbers without context can harm you instead of help you.
You may have participated in other landscape industry benchmark reports — the ones where they give you long forms to complete, and then you see the results as simple averages without any context.
It's unclear about the mix of services or sizes of the companies.
Worse, it’s unclear about what you and your team should do with the information.
When you look at the results, you have to wonder whether everyone made the same assumptions you did about where to put their numbers on the form in the first place.
Because you know that if they don't, then the numbers are meaningless.
It’s apples and oranges.
The Landscape Industry Benchmark Report by The Herring Group eliminates this problem.
We make sure that you get the context you need so that the numbers are meaningful and actionable for you and your team.
So here’s how it works
When you sign up, you get simple instructions about how to upload your income statement and balance sheet directly from your accounting software to a secure server. We make it easy.
No forms, no complication, no wondering if you did it right.
Once we have all the data, we take every company’s revenue and expenses and make consistent classifications so that you can compare the results with confidence.
Then we convert all the major expenses to percentages of total revenue, and we make the results anonymous by deleting the names and showing each company’s results in a separate column from greatest revenue to least revenue.
And every year, we do a live webinar to review the report findings, answer questions, and show you how you can use the report in your company.
We make this report as simple and actionable as possible for you.
60 Day No-Risk Guarantee
We've been there in the trenches facing hard decisions, feeling stuck and unclear.
You don't have to guess because the data from your business and your peers can guide some of the decisions and make a big difference.
If you take the actions that we suggest, you will likely see at least a 10% increase in your net income.
Many businesses have seen much more.
Who is Greg Herring?
When I see numbers, I see a story.
That ability comes from how I am designed and from my years of experience as a CFO — a Chief Financial Officer. I have also been a Chief Operating Officer, so my focus is on actions — actions that produce results to change the story.
When I produce reports, they are actionable.
The Landscape Industry Peer Benchmark Report is an important tool for my success, for the success of the team here at The Herring Group, and for the success of our clients.
- Please note:
- If you are a current client of The Herring Group and your company is already on The Path to 12%, you will receive the 2020 Benchmark Report and an invitation to the webinar as part of your consulting package.
For more than 20 years, benchmark reports have helped me optimize profitability for companies in all types of industries, including the landscape industry. When properly constructed and used, this report is powerful.
This report helps management teams understand what is possible.
Most managers think they do a great job and if the profits are not there, then it just cannot be better.
The 2020 Landscape Industry Peer Benchmark Report sponsored by Aspire Software shows them clearly how much other companies are making and what expense ratios need to be present in order to make it happen. The report shows the results of each company (anonymously) in percentage terms to make the profitability and ratios easy to see.
If you show the right people the right data, they will respond with actions that will improve the results.
And that is what I have been doing for more than 20 years!
Also seen on:
What You Get from the 2020 Landscape Industry
Peer Benchmark Report
This report is specifically for Landscape Professionals to get clear about your business wins and losses
Growing Your Perspective
It all starts with knowing the important data points in your business. You will get answers to burning questions:
- How does my company's revenue growth compare with my peers?
- How can I be sure about why the business is successful?
- How does my landscape business profitability measure up to others?
- How do my big expenses like labor compare to others?
We will produce a report clearly showing how your company compares with your peers. Uploading is fast, easy and secure. There are no forms to complete, saving you time.
The report shows the revenue streams and expenses specific to running a landscape business.
Growing Your Company
It's more than data and statistics in this report. Yes, you will get to see the financial data of your peers (anonymously). Think of the Landscape Industry Peer Benchmark Report as a scorecard where you can see the places you are winning and where you're losing.
- How are my peers managing equipment expenses?
- How fast are my peers collecting accounts receivable?
- How profitable are larger companies and what are their expense ratios?
In addition to the detailed report, you get an exclusive invite to a private webinar. This webinar will be hosted by Greg Herring where he works with you to define clearly how you can use the benchmark report with your management team.
Your team can build on its wins and decide next steps to grow your profits and your business.
Growing Your Profit
The Landscape Industry Peer Benchmark Report is something you can reference for your planning and budgeting. It is an important tool to help you set expense and profit goals.
- See at least a 10% increase in your net income when you follow actions suggested by Greg. Most companies will see far more. What is a 10% improvement worth to you?
- Know the indicators for when you can afford to hire additional employees.
- Get metrics that can help you in the decision process about pricing your work and adding expenses.
Data is expressed in percentages, not dollars, and company names are kept anonymous—making it easy to compare, learn, and take action.
How Does It Work?
- After you check out, you will receive an email with instructions on how to upload your financial statements to a secure server.
- We will carefully review the numbers and make them comparable across all companies. We will arrange all of the companies in an Excel spreadsheet from largest to smallest so that you can compare to companies close to your size or see how larger companies perform. We will distribute the report in PDF form immediately before the webinar. You can see an example from last year above.
- You will also receive an Excel file with the data. You can use this spreadsheet to customize your analysis—getting rid of companies that are not comparable to your situation. As you eliminate these companies from your analysis, the Excel spreadsheet will automatically recompute the average, best and worst numbers for each line item including overall profitability. It's a great tool and one of the things that makes this benchmark report the best one in the landscape industry.
- PLUS you will be invited to a private one-hour webinar. Greg will help you make the best use of your report and understand the next steps that you need to take toward growing your profit and your business.