How Valuable is Management Training?
It can be difficult for shop owners and their teams to carve out time to attend industry-specific management training. The guidance can pay dividends, but to what extent?
Here are figures from FenderBender’s 2016 Education and Training Survey that shed light on the value of management training, based on shops that had at least some members of their teams attend training annually.
72.4% of respondents said their yearly sales volume was at least $1 million
48.3% had an overall gross profit margin of 40 percent or better
65.5% boasted a net promoter score (NPS) of 90 percent or higher
41.4% claimed an overall net profit margin of 11 percent or better
72.4% said their total annual sales have grown at least 1 percent during the last five years
27.6% have plans to expand their facility and/or locations in the near future