May 2021 - 8

Garden Center Group Releases
Latest P&L Study Results
running and most comprehensive study of its kind in North
America. Any center who has participated in past years
knows this for a fact. What began as a simple compilation
of just a few numbers has continued to develop into a very
complex and detailed benchmarking system. The average
individual center's report is now 18 pages - that's not just
a few numbers! "
Steve Bailey describes the earliest attempts to bring
The Garden Center Group has released results from its
17th Annual P&L Study for 2020. The study, which was
first conducted in 2004, has never seen the level of
increases reported this year. The results were shared
during the GROUPtalk LIVE Series Session during a
presentation by Steve Bailey and Tim Quebedeaux of
RetailKPI Consulting, The Garden Center Group's financial
programs managers.
Total sales were reported at +25.1% over the previous
year. This was a result of both average sale increase of +10%
and transaction counts increase of +14%. The overall gains
by all member IGCs reporting resulted in a new higher level
of benchmarks.
Past years have featured three levels of benchmarks:
Total Group, High Achievers (net profit of 5% to 9.9%) and
Best Practices (net profits above 10%). The 2020 study
resulted in a new higher level of benchmarks with a 4th
tier of Best of the Best being added. For instance, Total
Sales for the Total Group was +25.1% increase over 2019,
while the Best Practices Group reported up +28% and Best
of the Best increased +30%. The Best of the Best reported
the sales as a result from Average Sale increase at +5% and
Transaction Counts increase at +24%.
During the presentation, Bailey and Quebedeaux shared
a graph of an average IGC member with annual sales of
$1 million illustrating the growth and revenue over
17 years of the study. You can see in the illustration the
effects of the Great Recession (2009-2012) as well as the
growth that followed, and the quantum leap in 2020. Of
course, this revenue growth was a result of increased
consumer interest in gardening during the pandemic,
but interestingly amid a time when most IGCs were
operating with unprecedented restrictions, reduced hours
and less staff.
The Total Group reported a net profit of 13.6%, compared
to 5.6% in 2019. The Best of the Best reported a net profit
of 21.3% compared to Best Practices at 14.6% in 2019.
Overall, the study recognized the largest number ever of
member centers being awarded Best Practices Awards.
" We expected the results to be higher than normal,
but they have set a new level of benchmarks, " said Danny
Summers, managing director. " Our P&L study is the longest
Benary has announced it is kicking off the 2021 California
Summer Trials early. Now through Aug. 31, visitors can
come to the Benary trial grounds in Watsonville, California,
at any time during business hours.
Now that traveling is becoming a bit easier again, Benary
picked this early start date so that you don't have to wait
together a few member IGCs' P&L reports as a difficult task
he compares to " herding cats. " He, Robert Hendrickson,
Sid Raisch and others developed a standardized Chart of
Accounts they felt most member IGCs could report. The
results of continual improvement over 17 years, dedication
to both refining the processes and comparisons, and
IGCs' commitment to participate and share their financial
data has brought this Annual P&L Study to its recognized
position as an industry exclusive benchmarking program.
But being an industry exclusive benchmarking study isn't
the real story; rather, it is in the benefits gained by all who
participate in the study. There is a real difference in the way
they manage their operations and the results achieved.
For more information, visit
BFG Supply Acquires L&L Nursery
BFG Supply recently announced it has acquired L&L
Nursery Supply. The acquisition reportedly will significantly
expand BFG's geographic footprint and ability to serve
customers in the Pacific region. The combined company
operates 14 warehouses across the U.S., totaling more than
1 million square feet.
Headquartered in Burton, Ohio, BFG was founded in
1972 and has been serving the green industry for five
decades. L&L, headquartered in San Bernardino, California,
was founded in 1953 and has served customers for close
to 70 years.
Benary Expands CAST '21 Dates

May 2021

Table of Contents for the Digital Edition of May 2021

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