IRVINE, Calif. (BRAIN) — The National Bicycle Dealers Association's new program, P2 Launch, is being positioned as an entry-level version of the dealer organization's Profitability Project (P2), a peer-to-peer program intended to help retailers increase profitability through shared performance metrics.
While P2 is an intensive, yearlong program with a significant upfront cost of $1,500 for each six months, P2 Launch is free for NBDA members this year and requires less of a commitment.
P2 Launch is offered in conjunction with Retail Toolkit, a retail analytics program.
"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 bench mark their shops against others by examining indicators related to labor burn, overbuying, scheduling, and vendor pricing.
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 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's 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 on their businesses, as opposed to in their businesses."
More information: retailtoolkit.com/p2-launch.
